Many US developers are rushing to start construction of renewable energy projects before year end so that the projects will qualify for so-called section 1603 payments from the US Treasury.
The Department of the Treasury recently amended its Home Affordable Foreclosure Alternatives (“HAFA”) program to assist servicemembers who receive “change of station” orders, even if their income has not declined.
On August 10th, the Federal Housing Finance Agency, in consultation with the Treasury Department and the Department of Housing and Urban Development, announced a Request for Information seeking suggestions on what to do with foreclosed homes owned by Fannie Mae, Freddie Mac, and the Federal Housing Administration.
The New York Times is reporting that the government is soliciting ideas for turning its glut of vacant, foreclosed houses into rental units that could be managed by private parties or sold in bulk.
On July 20th, Bloomberg reported that the Treasury Department is examining the feasibility of selling non-performing and underwater home mortgages from private label securitizations in an effort to help distressed homeowners avoid foreclosure.
Today, July 21, 2011, registration and enforcement jurisdiction over the Interstate Land Sales Full Disclosure Act moves from the Office of Interstate Land Sales under the Department of Housing and Urban Development to the Bureau of Consumer Financial Protection under the Department of Treasury, established by the Consumer Financial Protection Act of 2010, aka Dodd-Frank, and organized by Elizabeth Warren at the direction of the President.
Ending months of suspense, on February 11, 2011, the Department of the Treasury and the Department of Housing and Urban Development issued a report to Congress unveiling the Obama Administration's plans for the two giant, governmentsponsored secondary mortgage market entities (GSEs), Fannie Mae and Freddie Mac, and for the future of the U.S. housing finance system generally (the “Proposal”).
Ending months of suspense, on February 11, 2011, the Department of the Treasury and the Department of Housing and Urban Development issued a report to Congress unveiling the Obama Administration’s plans for the two giant, government-sponsored secondary mortgage market entities (the “GSEs”), Fannie Mae and Freddie Mac, and for the future of the U.S. housing finance system generally
The federal approach to resolving the foreclosure crisis is at a crossroads.
On Tuesday, November 23, Treasury Secretary Tim Geithner, in his capacity as chairperson of the Financial Stability Oversight Council, or FSOC, hosted the second meeting of the FSOC at the U.S. Department of the Treasury.