March 9, 2010 Posted by Treasury
March 9, 2010 - (RealEstateRama) — I want to thank the National Council of State Housing Agencies for hosting me today. And I want to thank all of the housing finance agencies for being key partners in the Administration’s housing initiatives.
February 1, 2010 Posted by Treasury
Projected TARP Costs Down $224 Billion from August Mid-Session Review
To view the Treasury Budget. WASHINGTON, DC - February 1, 2010 - (RealEstateRama) — As a part of the Administration’s commitment to making tough choices and streamlining programs that work in order to lay the foundation for long-term economic growth, Treasury Secretary Tim Geithner today highlighted key components of the President’s FY 2011 Budget intended to continue our nation down the path to economic prosperity. “After stabilizing our economy and steering it back from the brink this past year, this Budget reflects the President’s commitment to invest in innovation and reform our financial system,” said Secretary Geithner. “We must make investments to put our country back on a path to economic prosperity, but do so in a way that is efficient and constrained. This Budget supports the critical work that Treasury is doing to encourage economic growth and ensure that the financial industry plays by new, safer rules.”
January 28, 2010 Posted by Treasury
WASHINGTON, DC - January 28, 2010 - (RealEstateRama) — As part of the Administration’s ongoing housing market stabilization plan, the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today released updated guidance for servicers participating in the Administration’s mortgage modification program. This guidance refines the […]
December 24, 2009 Posted by Treasury
WASHINGTON, DC - December 24, 2009 - (RealEstateRama) — Today, the U.S. Department of the Treasury provided an update on initiatives established under the Housing and Economic Recovery Act (HERA) of 2008, which supports housing market stabilization and provides relief to struggling homeowners. As part of a commitment to wind down programs that were established during the crisis and are no longer critical to financial stability, Treasury will terminate several HERA programs at the end of the year. Treasury will also amend the terms of its agreements with Fannie Mae and Freddie Mac to support their ongoing stability. The steps outlined today are necessary for preserving the continued strength and stability of the mortgage market.
December 9, 2009 Posted by Treasury
December 9, 2009 - (RealEstateRama) — It’s wonderful to be meeting with the New Markets Tax Credit Coalition again. We worked very closely with you to help launch the NMTC Program in 2000, and we owe much of the success of the program not only to the efforts of the NMTC Coalition in helping to shape it, but also to your tireless efforts to educate the public and advocate on behalf of the NTMC over the years. The Coalition should be proud of what it has accomplished, and the impacts that have been realized in low-income communities across the country.
October 23, 2009 Posted by Treasury
WASHINGTON, DC - October 23, 2009 - (RealEstateRama) — As part of the Obama Administration’s efforts to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced $284 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing in California.
October 19, 2009 Posted by Treasury
WASHINGTON, DC - October 19, 2009 - (RealEstateRama) — As part of its comprehensive plan to stabilize the U.S. housing market, the Obama Administration today announced a new initiative for state and local housing finance agencies (HFAs) that will help support low mortgage rates and expand resources for low and middle income borrowers to purchase or rent homes that are affordable over the long term. Following up on the intent to support HFAs first outlined in February under the Homeowner Affordability and Stability Plan, the Administration’s initiative has two parts: a new bond purchase program to support new lending by HFAs and a temporary credit and liquidity program to improve the access of HFAs to liquidity for outstanding HFA bonds
September 17, 2009 Posted by Treasury
WASHINGTON, DC - September 17, 2009 - (RealEstateRama) — This morning, Treasury Secretary Tim Geithner hosted Attorney General Eric Holder, Housing and Urban Development (HUD) Secretary Shaun Donovan, Federal Trade Commission (FTC) Chairman Jon Leibowitz, Financial Crimes Enforcement Network (FinCEN) Director Jim Freis and attorneys general from 12 states to discuss emerging trends and proactive strategies to combat fraud against consumers in the housing markets as well as best practices to bolster coordination across state and federal agencies. This meeting follows up on an announcement by the Obama Administration in April of a multi-agency crackdown on foreclosure rescue scams and loan modification fraud designed to protect homeowners from predatory financial practices.
August 4, 2009 Posted by Treasury
Public Release of Data Provides Transparency on Servicer Performance. WASHINGTON, DC - August 4, 2009 - (RealEstateRama) — Today, the Obama Administration released its first monthly Servicer Performance Report detailing the progress to date of the Making Home Affordable (MHA) loan modification program. The purpose of the report is to document the number of struggling homeowners already helped under the program, provide information on servicer performance and expand transparency around the initiative.
July 31, 2009 Posted by Treasury
Direct Cash Payments Will Advance Economic Development, Expand Renewable Energy Use. WASHINGTON, DC - July 31, 2009 - (RealEstateRama) — With the goal of expanding development of renewable energy projects throughout the United States and creating new jobs, the U.S. Department of the Treasury and the U.S. Department of Energy today announced they are now accepting applications for a program that will make direct payments in lieu of tax credits to companies that create and place in service renewable energy facilities. The two Departments estimate distributing at least $3 billion in financial support to approximately 5,000 bio-mass, solar, wind, and other types of renewable energy production facilities. The funding for this effort is made available through the American Recovery and Reinvestment Act.
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