[PDF] Troubled Asset Relief Program Status Of Programs And Implementation Of Gao Recommendations Testimony Before The Committee On Banking Housing And Urban Affairs Us Senate eBook

Author : United States Government Accountability Office
Publisher : Createspace Independent Publishing Platform
Page : 28 pages
File Size : 15,67 MB
Release : 2018-01-14
Category :
ISBN : 9781983819889

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

Author : U S Government Accountability Offi Gao
Publisher : Independently Published
Page : 28 pages
File Size : 15,54 MB
Release : 2019-06-07
Category :
ISBN : 9781072623458

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TROUBLED ASSET RELIEF PROGRAM: Status of Prior GAO Recommendations

Author : A. Nicole Clowers
Publisher :
Page : 24 pages
File Size : 18,67 MB
Release : 2013-04-14
Category : Business & Economics
ISBN : 9781457844997

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The Emergency Economic Stabilization Act of 2008 (EESA) authorized the creation of the Troubled Asset Relief Program (TARP) to address the most severe crisis that the financial system had faced in decades. EESA provided GAO with broad oversight authorities for actions taken under TARP and required that they report at least every 60 days on TARP activities and performance. While the Treasury Dept. has addressed most of GAO’s recommendations, some remain outstanding. This 60-day report describes the status of GAO’s Troubled Asset Relief Program (TARP) recommendations to Treasury as of Feb. 2013. It focuses particularly on two major TARP programs: the Capital Purchase Program (CPP), which supports certain U.S. financial institutions, and Making Home Affordable (MHA), which is a collection of housing programs designed to help homeowners avoid foreclosure. Figure. This is a print on demand report.

Author : United States Government Accountability Office
Publisher : Createspace Independent Publishing Platform
Page : 112 pages
File Size : 28,32 MB
Release : 2017-09-07
Category :
ISBN : 9781976187353

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GAO's eighth report assesses the Troubled Asset Relief Program's (TARP) impact over the last year. Specifically, it addresses (1) the evolution of TARP's strategy and the status of TARP programs as of September 25, 2009; (2) the Department of the Treasury's (Treasury) progress in creating an effective management structure, including hiring for the Office of Financial Stability (OFS), overseeing contractors, and establishing a comprehensive system of internal control; and (3) indicators of TARP's performance that could help Treasury decide whether to extend the program. GAO reviewed relevant documentation and met with officials from OFS, contractors, and financial regulators. While Treasury has been generally responsive to GAO's prior 35 recommendations, GAO reiterates the importance of fully implementing several previous recommendations. GAO also makes three new recommendations. Specifically, the Secretary should (1) coordinate with the Federal Reserve and FDIC to help ensure that the decision to extend or terminate TARP is considered in a broader market context, (2) document and communicate the results of its determination, and (

Author : Government Accountability Office
Publisher :
Page : 26 pages
File Size : 43,18 MB
Release : 2017-08-17
Category :
ISBN : 9781974641369

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"Mortgage loan defaults and foreclosures are key factors behind the current economic downturn. In response, Congress passed and the President signed the Emergency Economic Stabilization Act of 2008, which authorized the Department of the Treasury to establish the Troubled Asset Relief Program (TARP). Under TARP, Treasury created the Home Affordable Modification Program (HAMP) as its cornerstone effort to meet the act's goal of protecting home values and preserving homeownership. This statement focuses on (1) HAMP's program activities to date, (2) status of GAO's July 2009 recommendations to strengthen HAMP's transparency and accountability, (3) preliminary findings from GAO's current work evaluating servicers' implementation of HAMP, and (4) additional challenges HAMP faces going forward.GAO obtained information from 10 HAMP servicers of various sizes that accounted for 71 percent of the TARP funds allocated to participating servicers. GAO reviewed their policies and procedures, interviewed management and quality assurance staff, and observed a sample of phone calls between borrowers and servicers. GAO is also reviewing samples of loan files for borrowers offered and denied HAMP trial modifications. Finally, GAO spoke..."