Download or read book Troubled Asset Relief Program TARP written by Baird Webel and published by . This book was released on 2012-11-05 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Troubled Asset Relief Program Status of Programs and Implementation of GAO Recommendations written by Orice Williams Brown and published by DIANE Publishing. This book was released on 2011-04 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Troubled Asset Relief Program Status of Efforts to Address Transparency and Accountability Issues written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2010-11 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Troubled Asset Relief Program (TARP) has the authority to purchase and insure up to $700 billion in troubled assets held by financial institutions. This authority was granted in response to the financial crisis that has threatened the stability of the U.S. banking system and the solvency of numerous financial institutions. This testimony is based on a Jan. 30, 2009 report that covers the actions taken as part of TARP through Jan. 23, 2009. It focuses on: (1) the nature and purpose of activities that have been initiated under TARP as of Jan. 23, 2009; (2) the status of the transition to the new admin. at OFS and its hiring efforts, use of contractors, and dev¿t. of a system of internal control; and (3) preliminary indicators of TARP's performance.

Download or read book Troubled Asset Relief Program written by U.s. Government Accountability Office and published by . This book was released on 2017-08-17 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Since the Troubled Asset Relief Program (TARP) was implemented, GAO has issued more than 40 reports containing more than 60 recommendations to the Department of the Treasury (Treasury). This report assesses the status of Treasury's implementation of GAO's recommendations and current condition of TARP. Specifically, this 60-day report provides information 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. GAO reviewed relevant documentation from various TARP programs and met with OFS officials and financial regulators. GAO also used information from existing reports and ongoing work."

Download or read book Troubled Asset Relief Program written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2010 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sixth report on the Troubled Asset Relief Program (TARP) focuses on the Department of the Treasury's (Treasury) efforts to establish its Home Affordable Modification Program (HAMP). This 60-day report examines: (1) the design of HAMP's program features with respect to maximizing assistance to struggling homeowners; (2) the analytical basis for Treasury's estimate of the number of loans that are likely to be successfully modified using TARP funds under HAMP; and (3) the status of Treasury's efforts to implement operational procedures and internal controls for HAMP. Charts and tables.

Download or read book Troubled Asset Relief Program written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2009-12 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third report on the Troubled Asset Relief Program (TARP) follows up on recommendations from the Jan. 28, 2009, report. It also reviews: (1) the nature and purpose of activities that had been initiated under TARP as of March 27, 2009; (2) the Office of Financial Stability's hiring efforts, use of contractors, and progress in developing an internal control system; and (3) TARP performance indicators. As of March 27, 2009, Treasury had disbursed $303.4 billion of the $700 billion in TARP funds. Most of the funds (almost $199 billion) went to purchase preferred shares of 532 financial institutions under the Capital Purchase Program (CPP), Treasury's primary vehicle under TARP for stabilizing financial markets. Includes recommend. Charts.

Download or read book TARP in the Crosshairs written by Paul W. O'Byrne and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on TARP, the Troubled Asset Relief Program that was signed into law under the Emergency Economic Stabilization Act on October 3, 2008. The act established the Office of Financial Stability (OFS) within the Department of the Treasury and authorised the Troubled Asset Relief Program (TARP). Among other things, the act provides Treasury with broad, flexible authorities to buy or guarantee up to $700 billion in "troubled assets," which include mortgages and mortgage-related instruments, and any other financial instrument whose purchase Treasury determines is needed to stabilise the financial markets. The act also created a number of mechanisms to oversee the implementation and operations of TARP. The U.S. Comptroller General is required to report at least every 60 days on findings resulting from oversight of TARP's performance in meeting the purposes of the act; the financial condition and internal controls of TARP, its representatives, and agents; TARP's efficiency in using the funds appropriated for the programs' operation; TARP's compliance with applicable laws and regulations and minimising conflicts of interest of those involved in TARP's operations and the efficacy of contracting procedures. This book consists of public domain documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.

Download or read book Troubled Asset Relief Program TARP written by Mathew J. Scire and published by . This book was released on 2015-08-07 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of the Treasury has allocated $37.5 billion in Troubled Asset Relief Program (TARP) funds to help struggling homeowners avoid potential foreclosure since 2009. Between February 2009 and May 2015, Treasury disbursed approximately $16.3 billion of these funds. The number of new borrowers with permanent modifications added to the Home Affordable Modification Program (HAMP), the key component of these programs, began to decline in late 2013 but has stabilized at between 9,000 and 15,000 additions per month. This report examines the status of TARP-funded housing programs in June 2015; and (2) the extent to which Treasury's analytic framework for considering recent program changes was consistent with federal guidance and best practices. Tables and figures. This is a print on demand report.

Download or read book Troubled Asset Relief Program written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-23 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Emergency Economic Stabilization Act of 2008 (EESA) authorized the creation of TARP to address the most severe crisis that the financial system had faced in decades. Treasury has been the primary agency responsible for TARP programs. EESA provided GAO with broad oversight authorities for actions taken under TARP and included a provision that GAO report at least every 60 days on TARP activities and performance. This 60-day report describes the status of GAO's prior TARP performance audit recommendations to Treasury as of August 2016. In particular, this report discusses Treasury's implementation of GAO's recommendations focusing on two programs: CPP and MHA. GAO's methodologies included assessing relevant documentation from Treasury, interviewing Treasury officials, and reviewing prior TARP reports issued by GAO.

Download or read book Troubled Asset Relief Program written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-05 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Emergency Economic Stabilization Act of 2008 (EESA) authorized the creation of TARP to address the most severe crisis that the financial system had faced in decades. Treasury has been the primary agency responsible for TARP programs. EESA provided GAO with broad oversight authorities for actions taken under TARP and included a provision that GAO report at least every 60 days on TARP activities and performance. This 60-day report describes the status of GAO's TARP performance audit recommendations to Treasury as of August 2015. In particular, this report discusses Treasury's implementation of GAO's recommendations, focusing on two programs: CPP and MHA. GAO's methodologies included assessing relevant documentation from Treasury, interviewing Treasury officials, and reviewing prior TARP reports issued by GAO.

Download or read book Troubled Asset Relief Program written by Matthew J. Scire and published by DIANE Publishing. This book was released on 2010-11 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Troubled Asset Relief Program written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-07 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 (

Download or read book Troubled Asset Relief Program Status of Housing Programs written by United States. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-19 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: " Since 2009 Treasury has obligated $37.51 billion in TARP funds to help struggling homeowners avoid foreclosure. The Emergency Economic Stabilization Act of 2008 included a provision for GAO to report at least every 60 days on TARP activities. This report provides an update on the status and condition of Treasury's TARP-funded housing programs as of October 31, 2016. To do this work, GAO reviewed Treasury documentation and prior GAO reports on TARP. We also interviewed Treasury officials. This report contains the most recently available public data in Treasury's reports at the time of our review, including obligations, disbursements, and program participation. "

Download or read book Troubled Asset Relief Program written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-08 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO's sixth report on the Troubled Asset Relief Program (TARP) focuses on the Department of the Treasury's (Treasury) efforts to establish its Home Affordable Modification Program (HAMP). This 60-day report examines (1) the design of HAMP's program features with respect to maximizing assistance to struggling homeowners, (2) the analytical basis for Treasury's estimate of the number of loans that are likely to be successfully modified using TARP funds under HAMP, and (3) the status of Treasury's efforts to implement operational procedures and internal controls for HAMP. For this work, GAO reviewed documentation from Treasury and its financial agents and met with officials from Treasury, its financial agents, and other organizations.

Download or read book Troubled Asset Relief Program Status of Programs and Implementation of GAO Recommendations Testimony Before the Committee on Banking Housing and Urban Affairs U S Senate written by and published by DIANE Publishing. This book was released on with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Troubled Asset Relief Program written by Government Accountability Office and published by . This book was released on 2017-08-17 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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..."

Download or read book Bailout written by Neil Barofsky and published by Simon and Schuster. This book was released on 2013-02-05 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes a new foreword to the paperback edition.