The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the August edition of the Obama Administration’s Housing Scorecard, a comprehensive report on the nation’s housing market. In July, housing prices remained level after 30 straight months of decline, while some price predictions have improved. In addition, historic low interest rates continued to promote home affordability and refinancing options for the nation’s families.Read more

The Obama Administration has announced additional support to help homeowners struggling with unemployment through two targeted foreclosure-prevention programs. Through the existing Housing Finance Agency (HFA) Innovation Fund for the Hardest Hit Housing Markets (the Hardest Hit Fund), the U.S. Department of the Treasury will make $2 billion of additional assistance available for HFA programs for homeowners struggling to make their mortgage payments due to unemployment. Additionally, the U.S.Read more

State Housing Finance Agencies (HFAs) in North Carolina, Ohio, Oregon, Rhode Island and South Carolina can begin to use $600 million in foreclosure prevention assistance from the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (Hardest Hit Fund) under plans approved by the Obama Administration. This assistance will support local initiatives to assist struggling homeowners in these five states that have high percentages of their population living in areas of economic distress due to unemployment.Read more

Freddie Mac has named Jerry Weiss to the newly created position of chief administrative officer (CAO). Weiss will continue to serve as the company's chief compliance officer and oversee the compliance, economics and strategy, regulatory affairs and mission divisions. As CAO, he will also manage two additional functions—external relations and human resources. Weiss will continue to report directly to Chief Executive Officer Charles E. "Ed" Haldeman Jr., as a member of Freddie Mac's management committee.Read more

The Advertising Council, in partnership with the U.S. Department of the Treasury and the U.S. Department of Housing & Urban Development (HUD), has announced the launch of a national public service advertising (PSA) campaign designed to encourage homeowners who are struggling with their monthly mortgage payments to learn about the Making Home Affordable Program.Read more

House Financial Services Committee Chairman Rep. Barney Frank (D-MA) has issued the following statement regarding the legal status of Fannie Mae and Freddie Mac debt and the debt of the U.S. Treasury: "I have been asked some questions by members of the media and others about my noting the distinction between the legal status of Fannie Mae and Freddie Mac debt and the debt of the U.S. Treasury. Throughout the debate over Fannie and Freddie in past years, I have noted that Fannie and Freddie debt did not have the same legal standing as Treasury debt.Read more

The Obama Administration has announced expanded opportunities for public engagement on the future of our nation's housing finance system, including Fannie Mae and Freddie Mac. These events, which will include a major conference in Washington, D.C., will help provide critical public input as the Administration continues its work developing a comprehensive housing finance reform proposal for delivery to Congress by January 2011.Read more

U.S. Treasury Secretary Tim Geithner has announced that, when Comptroller of the Currency John C. Dugan leaves office on Aug. 14, John G. Walsh will become Acting Comptroller of the Currency (OCC). Walsh currently serves as Chief of Staff and Public Affairs for the Office of the Comptroller of the Currency (OCC), a position he has held since Oct. 17, 2005. In that position, he has been engaged in all aspects of the OCC's operations.Read more

The CRE Finance Council has filed a comment letter with the U.S. Department of the Treasury and the U.S. Department of Housing & Urban Development (HUD) to opine on reforms of the nation's housing finance system.Read more

The Federal Reserve Board has announced that it agreed with the U.S. Department of the Treasury that it was appropriate for Treasury to reduce from $20 billion to $4.3 billion the credit protection provided for the Term Asset-Backed Securities Loan Facility (TALF) under the Troubled Asset Relief Program (TARP). The Board had authorized up to $200 billion in TALF loans, but when the program closed on June 30, 2010, there were $43 billion in loans outstanding.Read more