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Geithner Focused on Foreclosure Relief Effort.
Byline: Brian Collins
Washington-New Treasury secretary Timothy Geithner doesnat have very much time to put together a comprehensive plan to stabilize the banks, increase the flow of credit and curb rising foreclosures.
President Barack Obama expects parts of this plan will be unveiled as Congress continues its work on the massive economic stimulus package that the House passed recently.
This plan will offer banks several assistance options - such as capital infusions and loss-sharing arrangements or guarantees on distressed assets. Banks could also be given the option of selling defaulted or illiquid assets into a government-run abad bank.a
At his recent swearing-in ceremony, Mr. Geithner said the administration intends to move quickly and alaunch programs that will bring economic recovery sooner.a
The new cabinet secretary has worked at the Treasury Department before and most recently served as president of the New York Federal Reserve Bank where he was involved ...
- Five communities targeted for foreclosure relief.(REAL ESTATE &...
- Magazine article from: New Hampshire Business Review November 21, 2008 700+ words
...and Nashua are the first communities in line for funding through a $19.6 million grant from the federal Housing and Urban Development Neighborhood Stabilization Program. The communities were selected based on their concentrations of home foreclosures and...
- FHA Urges Industry to Extend New Foreclosure Relief in Gulf.
- News wire article from: Mortgage Line Collins, Brian September 17, 2008 700+ words
...Shortly after Hurricane Gustav slammed into the Louisiana coast last week, the Department of Housing and Urban Development declared a 90-day moratorium on Federal Housing Administration foreclosures and called on the mortgage industry...
- Mortgage aid dribbles out at slow rate; Q&A; Foreclosure-relief...
- Newspaper article from: The Seattle Times (Seattle, WA) July 28, 2009 700+ words
...mortgage executives from 25 companies to meetings today with top staffers from the departments of Treasury and Housing and Urban Development (HUD). Six other companies weren't invited because they just joined the program this month. Meanwhile, government...
- Bank of America Announces Foreclosure Relief Program Notifications Will Begin...
- Press release article from: PR Newswire July 23, 2009 700+ words
...borrowers who may be eligible for the foreclosure relief program included in an agreement...of 2010. Inquiries concerning the foreclosure relief program should be directed to Rust...countrywidesettlementinfo.com. The foreclosure relief program is one of three components...
- Bank of America starts foreclosure relief programme notifications.
- Magazine article from: Global Banking News (GBN) July 24, 2009 700+ words
...July 2009-Bank of America starts foreclosure relief programme notifications(C)2009...started notifying customers about its foreclosure relief programme. The bank said that it...borrowers who may be eligible for the foreclosure relief programme that was included in an...
- ATTORNEY GENERAL CORBETT ANNOUNCES $2.7 MILLION IN FORECLOSURE RELIEF FOR MORE...
- News wire article from: US Fed News Service, Including US State News July 27, 2009 700+ words
...that they are eligible for mortgage foreclosure relief as part of a settlement with Countrywide...Pennsylvania residents qualified for the foreclosure relief portion of the Countrywide Settlement...within a week. In addition to the Foreclosure Relief Program, the Countrywide ...
- Home Builders supports foreclosure relief plan.
- Magazine article from: Real Estate Weekly January 7, 2009 700+ words
...unsold homes. "The FDIC plan to use TARP funds to bolster foreclosure relief efforts is a creative approach to help strapped borrowers...NAHB President and CEO Jerry Howard said. "Effective foreclosure relief, along with a stimulus program that includes a meaningful...
- Servicers Agree to Streamline Foreclosure Relief Practices.
- Magazine article from: Mortgage Servicing News Cornwell, Ted August 1, 2008 700+ words
...provide borrowers with notice that they've received a foreclosure relief application within five days, a move that should improve...of the streamlined actions is to expedite delivery of foreclosure relief. "It's a bold and a dramatic statement that the industry...
Source: HighBeam Research, Geithner Focused on Foreclosure Relief Effort.