Treasury’s Wolin: Five Things Worth Fighting for in FinReg
Today, Neal Wolin, the deputy secretary of the Treasury, gave a speech to the Financial Industry Regulatory Authority’s annual conference in Baltimore, and outlined five things Treasury will push for...
View Article1,295 Prisoners Claimed the First-Time Homebuyer Tax Credit
The Obama administration homebuyer tax credit program granted $9.1 million to 1,295 prisoners who were incarcerated when they said they purchased their home. Many such discrepancies are identified in a...
View ArticleFormer Fannie Exec Batters HAMP as a Failure
Today, Edward Pinto, Fannie Mae’s chief credit officer from 1987 to 1989 and a prominent housing consultant, testified before the House Oversight Committee on the question of whether loan servicers are...
View ArticleHiring Programs for the Long-Term Unemployed
This week, the Treasury Department delivered a report on an Obama administration program to encourage businesses to hire the long-term unemployed. It is also calling on Congress to re-up the expiring...
View ArticleObama Team Promises Housing Finance Reform Proposal by January
Despite Republican objections, congressional Democrats did not include reforms of Fannie Mae and Freddie Mac or of the broader mortgage market in the Dodd-Frank financial regulatory reform bill — now...
View ArticleFannie, Freddie Post New Losses; Bailout Tops $150 Billion
Last week, Fannie Mae announced it lost $1.2 billion in the second quarter and asked the Treasury Department for an additional $1.5 billion to see it through. In the first quarter, it lost $11.5...
View ArticleOn the Future of Fannie and Freddie
Today, I’ll be covering a Treasury Department conference on the future of Fannie Mae and Freddie Mac, the government-sponsored enterprises that provide liquidity to the mortgage market and have...
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The Death of HAMP
The foreclosure crisis is far from over. Rather, as this chart from Daniel Indiviglio at The Atlantic shows, it is in some ways just peaking. Last month, banks foreclosed on more homes than ever...
View ArticleElizabeth Warren Debuts
Yesterday, Elizabeth Warren, newly named as an adviser to the White House and Treasury Department on the Consumer Financial Protection Bureau, made her debut. She spoke at a forum on mortgage reform —...
View ArticleRepublicans Push Back Against Requests to Investigate Nonprofit Groups
After a spate of requests by Democrats and campaign finance groups for an IRS investigation of a number of section 501(c) organizations accused of abusing their status by engaging primarily in...
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