RealEstateRama Authors Posts by Treasury
Chairman Crapo, Ranking Member Brown, and members of the Committee, thank you for inviting me today. One of my top priorities as Treasury Secretary is sustained economic growth for the American people, and so I am happy to report that the growth rate of the economy over the past year was higher than the average over the prior twenty years and included two straight quarters of 3 percent or higher GDP growth.
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
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
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.
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
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
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
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
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.
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
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.
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.