Treasury

WASHINGTON, DC - May 18, 2011 - (RealEstateRama) -- The Consumer Financial Protection Bureau (CFPB) today announced the Know Before You Owe project, an effort to combine two federally required mortgage disclosures into a single, simpler form that makes the costs and risks of the loan clear and allows consumers to comparison shop for the best offer

WASHINGTON, D.C. - May 12, 2011 - (RealEstateRama) -- Chairman Johnson, Ranking Member Shelby, and Members of the Committee, I appreciate the opportunity to provide an update on the Treasury Department’s implementation of the Dodd-Frank Act.

WASHINGTON, DC March 21, 2011 - (RealEstateRama) -- Today, the U.S. Department of the Treasury announced that it will begin the orderly wind down of its remaining portfolio of $142 billion in agency-guaranteed mortgage-backed securities (MBS). Starting this month, Treasury plans to sell up to $10 billion in agency-guaranteed MBS per month, subject to market conditions

WASHINGTON, D.C. - March 15, 2011 - (RealEstateRama) -- Chairman Johnson, Ranking Member Shelby, and members of the committee, thank you for the opportunity to testify this morning. Last month, we released a report outlining our vision of the next steps for reforming the housing finance market. My testimony today summarizes the content of that report

WASHINGTON, D.C. - February 16, 2011 - (RealEstateRama) -- Chairwoman Biggert, Ranking Member Gutierrez and Members of the Subcommittee, thank you for the opportunity to testify today. I appreciate the opportunity to share insights resulting from the Administration’s efforts to mitigate the effects of the most serious housing crisis since the Great Depression.

WASHINGTON, DC - February 11, 2011 - (RealEstateRama) -- Today, the Obama Administration delivered a report to Congress that provides a path forward for reforming America’s housing finance market. The Administration’s plan will wind down Fannie Mae and Freddie Mac and shrink the government's current footprint in housing finance on a responsible timeline. The plan also lays out reforms to continue fixing the fundamental flaws in the mortgage market through stronger consumer protection, increased transparency for investors, improved underwriting standards, and other critical measures. Additionally, it will help provide targeted and transparent support to creditworthy but underserved families that want to own their own home, as well as affordable rental options.

WASHINGTON, DC - February 1, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the January edition of the Obama Administration's Housing Scorecard. The latest housing figures show increased new and existing home sales as home affordability remains high, but officials caution that the market remains fragile, as prices are unsettled. Foreclosure starts and completions remained low at the year’s end, as lenders continue to review internal servicing procedures.

WASHINGTON, DC - December 22, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the December edition of the Obama Administration’s Housing Scorecard. The latest housing figures show continued home affordability in the housing market, with interest rates near record lows, but the market remains fragile, as prices are unsettled. Foreclosure starts and completions dropped significantly in November, as lenders review internal servicing procedures. The housing scorecard is a comprehensive report on the nation’s housing market.

WASHINGTON, D.C. - December 2, 2010 - (RealEstateRama) -- Chairman Conyers, Ranking Member Smith, and Members of the Committee, thank you for the opportunity to testify today regarding issues surrounding mortgage servicing. This testimony will cover two key areas: first, the steps we are taking to ensure that servicers participating in the Making Home Affordable (MHA) program are adhering to program guidelines in light of the recent foreclosure issues, and second, the accomplishments of MHA to date and its impact on mortgage servicing.

WASHINGTON, D.C. - November 18, 2010 - (RealEstateRama) -- Chairwoman Waters, Ranking Member Capito, and Members of the Subcommittee, thank you for the opportunity to testify today regarding loss mitigation and issues surrounding mortgage servicing. The testimony will cover two key areas: first, the steps we are taking to ensure that servicers participating in the Making Home Affordable (MHA) program are adhering to program guidelines in light of the recent foreclosure issues, and second, the accomplishments of MHA to date and its impact on mortgage servicing.