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Treasury

Treasury

The Department of the Treasury is organized into two major components the Departmental offices and the operating bureaus. The Departmental Offices are primarily responsible for the formulation of policy and management of the Department as a whole, while the operating bureaus carry out the specific operations assigned to the Department. Our bureaus make up 98% of the Treasury work force.

Mission
Serve the American people and strengthen national security by managing the U.S. Government's finances effectively, promoting economic growth and stability, and ensuring the safety, soundness, and security of the U.S. and international financial systems.

Contact:

Tel: (202) 622-2000
Fax: (202) 622-6415

Testimony of Federal Insurance Office Director Michael McRaith before House Financial Services Subcommittee on...

Chairman Luetkemeyer, Ranking Member Cleaver, Members of the Subcommittee, thank you for inviting me to testify today on the impact of U.S. – EU dialogues on insurance markets. Today’s hearing focuses on prudential aspects of international insurance matters, including the prospect of an agreement on such matters between the United States and the European Union.  With respect to these topics, Congress granted the Federal Insurance Office (FIO) the following authority

U.S. Treasury Annouces Over $90 Million in Awards for Affordable Housing

The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded 32 organizations nearly $91.5 million in grants today for the development of affordable housing and community facilities in low-income communities.  These awards were made through the fiscal year 2016 round of the Capital Magnet Fund and will support financing for the preservation, rehabilitation, development or purchase of affordable housing for low-income communities as well as related economic development and community service facilities such as day care centers, workforce development centers and health care clinics

Treasury, HUD and FHFA Release White Paper on the Future of Foreclosure Prevention

The U.S. Department of the Treasury, the U.S. Department of Housing and Urban Development (HUD), and the Federal Housing Finance Agency (FHFA) today released a white paper designed to serve as a guide for future loss mitigation programs that draw on the lessons learned from implementing the government’s crisis-era housing recovery programs.

Testimony of Federal Insurance Office Director Mike McRaith Before House Subcommittee On Housing and...

Chairman Luetkemeyer, Ranking Member Cleaver, Members of the Subcommittee, thank you for inviting me to testify today on “The Impact of Domestic Regulatory Standards on the U.S. Insurance Market.” While previous hearings have focused on the international leadership role of the Federal Insurance Office (FIO), FIO also has an important role in domestic insurance matters.

Treasury Secretary Jacob J. Lew to Lead Delegation to Financing for Development Conference in...

Secretary of the Treasury Jacob J. Lew will lead the U.S. Delegation to the Third International Conference on Financing for Development, which will be held July 13-16 in Addis Ababa, Ethiopia

Testimony of Treasury Federal Insurance Office Director Michael Mcraith before the Senate Committee on...

The Federal Insurance Office (FIO) publishes an annual report to address the state of the insurance industry and related regulatory or macroeconomic developments. FIO’s 2014 Annual Report included sections describing (1) a financial overview of the U.S. insurance industry, (2) developments and issues with respect to consumer protection and access to insurance, (3) regulatory developments, and (4) international developments

Remarks of Counselor to the Secretary for Housing Finance Policy Dr. Michael Stegman before...

WASHINGTON, D.C. - March 3, 2015 - (RealEstateRama) -- I last joined you nearly 2 years ago to this day, and it is great to be back at the NCSHA’s winter legislative conference to update you on a few issues that we both care about deeply.  While I have worked with housing finance agencies (HFAs) on a wide range of affordable housing issues over several decades in good times and bad, Treasury’s intensive, hands-on experience with HFAs was forged after the financial crisis

Treasury and HUD Announce Enhancements to Housing Program

WASHINGTON, D.C. - December 4, 2014 - (RealEstateRama) -- The U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD) today announced enhancements to programs under Making Home Affordable (MHA) to better assist struggling homeowners and communities still recovering from the effects of the financial crisis. The enhancements are designed to motivate homeowners in MHA to continue making their mortgage payments on-time, strengthen the safety net for those facing continuing financial hardships, and help homeowners in MHA programs build equity in their homes, an important factor in stabilizing neighborhoods

Treasury, HUD and The Ad Council Launch New Public Service Ads to Reach Struggling...

WASHINGTON - September 25, 2014 - (RealEstateRama) - In an effort to increase awareness of the Making Home Affordable® (MHA) Program’s free resources and assistance for struggling homeowners, the U.S. Department of the Treasury (Treasury), the U.S. Department of Housing and Urban Development (HUD), and the Ad Council today launched a new series of public service advertisements (PSAs) as a part of their Foreclosure Prevention Assistance campaign

Remarks of Under Secretary for Domestic Finance Mary Miller at the Governor’s Housing Conference...

BALTIMORE, MARYLAND - May 15, 2014 - (RealEstateRama) -- Good morning. Thank you, Secretary Skinner, for that kind introduction, and thanks for inviting me here today. I’m grateful to have the opportunity to talk about the housing market with you, and in my own hometown no less. Although I now spend most of the week in Washington, I’m proud to call Baltimore my home.

Remarks of Under Secretary for Domestic Finance Mary Miller at the Governor’s Housing Conference...

BALTIMORE, MARYLAND - October 17, 2013 - (RealEstateRama) -- Good morning. Thank you, Secretary Skinner, for that kind introduction, and thanks for inviting me here today. I’m grateful to have the opportunity to talk about the housing market with you, and in my own hometown no less. Although I now spend most of the week in Washington, I’m proud to call Baltimore my home

Treasury Announces $325 Million in Community Development Bonds for Financing in Low-Income Areas Nationwide

WASHINGTON, D.C. - October 1, 2013 - (RealEstateRama) -- The U.S. Department of the Treasury announced today that it has approved term sheets for $325 million in bonds with maturities up to 29.5 years that, when issued, will be guaranteed by Treasury for community and economic development financing through the fiscal year (FY) 2013 round of the CDFI Bond Guarantee Program. As the administrator of the CDFI Bond Guarantee Program, the Community Development Financial Institutions Fund (CDFI Fund) will commence final bond closings and issuance of guarantees during the next FY quarter. The CDFI Fund selected three Qualified Issuers to issue the bonds and, upon the final closing of the guarantees, to make bond loans to Eligible Community Development Financial Institutions (Eligible CDFIs) for investments in low-income and distressed communities across the country. The FY 2013 round is the inaugural round of the CDFI Bond Guarantee Program

Remarks of Counselor to the Secretary of the Treasury for Housing Finance Policy Michael...

LAS VEGAS, NV - January 30, 2013 - (RealEstateRama) -- Today, as we look around and take stock of a number of encouraging developments in the nation’s housing market, it’s easy to forget where we were only a few short years ago.

Obama Administration Releases December Housing Scorecard

WASHINGTON, DC - January 14, 2012 - (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 – a comprehensive report on the nation’s housing market. Data continue to show important progress across many key indicators with the housing marketing bottoming out nationally and clearly turning a corner – as home values continue to rise and home sales remained strong in November – although officials caution that the overall recovery remains fragile. The full Housing Scorecard is available online at www.hud.gov/scorecard.

Treasury, HUD and the Ad Council Launch National PSA Campaign to Reach Struggling Homeowners

WASHINGTON, DC - December 12, 2012 - (RealEstateRama) -- To increase awareness of the Making Home Affordable® Program’s free resources and assistance for struggling homeowners, the U.S. Department of the Treasury (Treasury), the U.S. Department of Housing and Urban Development (HUD), and the Ad Council today unveiled the third and final phase of their Foreclosure Prevention Assistance Public Service Advertising (PSA) Campaign.

Written Testimony of Treasury Secretary Geithner before the Senate Committee on Banking, Housing, and...

WASHINGTON, DC - July 26, 2012 - (RealEstateRama) -- Chairman Johnson, Ranking Member Shelby, and members of the Committee, thank you for the opportunity to testify today regarding the Financial Stability Oversight Council’s (the “Council”) annual report

SIGTARP, CFPB, and Treasury Issue a Fraud Alert to the Armed Services Community to...

WASHINGTON, DC - May 24, 2012 - (RealEstateRama) -- The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), the Consumer Financial Protection Bureau (CFPB), and the U.S. Department of the Treasury (Treasury) today issued a fraud alert to the Armed Services community to combat scams targeted at homeowners seeking to apply for mortgage assistance through the Home Affordable Modification Program (HAMP) and other federal programs.

Treasury Completes Wind Down of Mortgage-Backed Securities Investment, Generates $25 Billion Positive Return for...

WASHINGTON, DC - March 19, 2012 - (RealEstateRama) -- The U.S. Department of the Treasury announced the completion of the orderly wind down of its agency-guaranteed mortgage-backed securities (MBS) portfolio, which it acquired as part of its response to the financial crisis. Overall, Treasury’s MBS portfolio generated a positive return of $25 billion for taxpayers.

Obama Administration Releases November Housing Scorecard

WASHINGTON, DC - December 8, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the November edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. Included in this month’s report are detailed assessments for the 10 largest mortgage servicers participating in the Making Home Affordable Program with results from the third quarter of 2011. In addition to providing greater transparency about servicer performance in the program, the servicer assessments – first introduced in June 2011 and published quarterly – are intended to set a new industry benchmark for disclosure around servicer efforts to assist struggling homeowners, while prompting them to correct identified deficiencies.

Written Testimony of Deputy Secretary Neal S. Wolin before the Senate Committee on Banking,...

“Continued Oversight of the Implementation of the Wall Street Reform Act” WASHINGTON, D.C. - December 6, 2011 - (RealEstateRama) -- Chairman Johnson, Ranking Member...

SIGTARP, CFPB, and Treasury Form Joint Task Force to Combat HAMP Mortgage Modification Scams;...

WASHINGTON, DC - December 1, 2011 - (RealEstateRama) -- The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), the Consumer Financial Protection Bureau (CFPB), and the U.S. Department of the Treasury today announced the creation of a joint task force to combat scams targeted at homeowners seeking to apply for the Home Affordable Modification Program (HAMP). SIGTARP, the CFPB, and Treasury have partnered to protect taxpayers by investigating and shutting down these scams and by providing education programs to vulnerable homeowners. The joint task force today issued a consumer fraud alert to protect homeowners from HAMP-related mortgage modification scams. The fraud alert will also be provided directly to homeowners eligible for HAMP.

Obama Administration Releases October Housing Scorecard

WASHINGTON, DC - November 3, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the October edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. The latest housing data offer continued mixed signals as new home sales rose compared to August, but were still slightly down from the prior year. Mortgage defaults and foreclosure sales continued a downward trend as more homeowners were able to secure mortgage relief. However, foreclosure completions ticked slightly upward in September after months of decline.

Treasury Secretary Timothy F. Geithner Testimony before the Committee on Banking, Housing, and Urban...

WASHINGTON, D.C. - October 6, 2011 - (RealEstateRama) -- Chairman Johnson, Ranking Member Shelby, and members of the Committee, thank you for inviting me to testify today on behalf of the Financial Stability Oversight Council (the “Council”).

U.S. Department of the Treasury, U.S. Department of Housing and Urban Development and the...

WASHINGTON, DC - September 14, 2011 - (RealEstateRama) -- The Ad Council, in partnership with the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), have joined together to launch a new phase of their Foreclosure Prevention Assistance Public Service Advertising (PSA) Campaign. The campaign aims to increase awareness of the Making Home Affordable® Program’s free resources and assistance for homeowners who are struggling with their mortgage payments.

Obama Administration Releases July Housing Scorecard

WASHINGTON, DC - August 5, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the July edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. The latest housing data offer continued mixed signals as home prices improved slightly but showed continued strain from foreclosures and distressed homes. Also, as more homeowners secure mortgage relief, fewer borrowers entered the foreclosure pipeline in June. The full report is available online at www.hud.gov/scorecard.

Obama Administration Releases June Housing Scorecard

WASHINGTON, DC - July 4 30, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the June edition of the Obama Administration's Housing Scorecard– a comprehensive report on the nation’s housing market.

Remarks by Under Secretary Jeffrey A. Goldstein before the National Housing Conference’s Policy Summit...

WASHINGTON, D.C. - June 24, 2011 - (RealEstateRama) -- Good morning. Thank you, Maureen, for that kind introduction, and thanks to the National Housing Conference for inviting me here this morning. I’m glad to have the opportunity to talk about the future of housing finance, and also to hear your thoughts on how we can best move forward.

Remarks by Assistant Secretary Mary Miller at the Women in Housing Finance Annual Dinner

WASHINGTON, D.C. - June 15, 2011 - (RealEstateRama) -- Thank you very much for inviting me this evening. Reforming housing finance is a key priority for the Obama Administration, and it is great to be meeting with a group that focuses specifically on this area. I’m glad to have the opportunity to talk about the Administration’s views and hear some of your thoughts on how we can best move forward.

Obama Administration Releases May Housing Scorecard Featuring New Making Home Affordable Servicer Assessments, Regional...

WASHINGTON, DC - June 15, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the May edition of the Obama Administration's Housing Scorecard. New to this month’s report are detailed assessments for the 10 largest mortgage servicers participating in the Administration’s Making Home Affordable Program, setting a new industry benchmark for disclosure on servicer assistance to struggling homeowners.

Consumer Financial Protection Bureau Announces Initiative to Combine Mortgage Loan Disclosures

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

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