Troubled Asset Relief Program (TARP): Treasury Sees Some Returns as It Exits Programs and Continues to Fund Mortgage Programs

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By Thomas J. McCool (au); A. Nicole Clowers (au); Mathew J. Scire (au)
Year: 2013
Pages: 69
Binding Paperback
ISBN 978-1-4578-4282-5

Product Code: 1457842823

Description

The Emergency Economic Stabilization Act of 2008 authorized the Treasury Dept. (Treasury) to create the Troubled Asset Relief Program (TARP), a $700 billion program designed to restore liquidity and stability to the financial system and to preserve homeownership by assisting borrowers struggling to make their mortgage payments. The act also required a report every 60 days on TARP activities in the financial and mortgage sectors. This report examines the condition and status of (1) nonmortgage-related TARP programs and (2) TARP-funded mortgage programs and Treasuryäó»s efforts to better ensure that servicers are implementing as intended two new requirements designed to improve interactions with borrowers (the Making Home Affordable [MHA] single point of contact and resolution of escalated cases requirements). Tables and figures. This is a print on demand report.

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