Troubled Asset Relief Program
Troubled Asset Relief Program

Author: Matthew J. Scire

Publisher: DIANE Publishing

Published: 2010-11

Total Pages: 64

ISBN-13: 1437935354

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Congress created the Troubled Asset Relief Program (TARP) to, among other things, preserve homeownership and protect home values. In March 2009, the U.S. Department of the Treasury (Treasury) announced the Home Affordable Modification Program (HAMP) as its cornerstone effort to achieve these goals. This report examines: (1) the extent to which HAMP servicers have treated borrowers consistently; and (2) the actions that Treasury has taken to address the challenges of trial modification conversions, negative equity, redefaults, and program stability. The report obtained information from 10 servicers that account for 71 percent of HAMP funds and spoke with Treasury, Fannie Mae, and Freddie Mac officials. Includes recommendations. Illus.

Troubled Asset Relief Program
Troubled Asset Relief Program

Author: Gene L. Dodaro

Publisher: DIANE Publishing

Published: 2009-11

Total Pages: 112

ISBN-13: 1437913008

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This is the second report on the Troubled Asset Relief Program (TARP). It follows up on the nine recommendations from a December 2, 2008, report. It also reviews: (1) the nature and purpose of activities that had been initiated under TARP as of January 23, 2009; (2) Treasury's Office of Financial Stability (OFS) hiring and transition efforts, use of contractors, and progress in developing a system of internal control; and (3) preliminary indicators of TARP's performance. To do this work, the auditor reviewed signed agreements and other relevant documentation and met with officials from OFS, contractors, federal agencies, and some participating institutions. Charts and tables.

Troubled Asset Relief Program: Status of Programs and Implementation of GAO Recommendations
Troubled Asset Relief Program: Status of Programs and Implementation of GAO Recommendations

Author: Orice Williams Brown

Publisher: DIANE Publishing

Published: 2011-04

Total Pages: 119

ISBN-13: 1437944973

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Since the Troubled Asset Relief Program (TARP) was implemented, GAO has issued more than 40 reports containing more than 60 recommendations to the Treasury Dept. (Treasury). This report assesses the status of Treasury's implementation of these recommendations and current condition of TARP. Specifically, this report provides info. on; (1) the condition and status of active TARP programs; (2) Treasury's progress in implementing an effective management structure, including staffing for the Office of Financial Stability (OFS), overseeing contractors, and establishing a comprehensive system of internal control; and (3) trends in the status of key relevant economic indicators. Illus. A print on demand report.