U.S. Treasury Articles

U.S. Treasury

• Freddie Mac Names Ex-ETrade Head as New CEO

  WASHINGTON - Donald Layton, the former chief executive of brokerage firm E(asterisk)Trade Financial Corp, will be the next CEO of Freddie Mac.

   

• Proposed Definition of Qualified Residential Mortgage Sets a High Standard

  A 20% down payment and no debt delinquency for the last two years would be required to reach the mortgage industry's proposed gold standard.

   

• Treasury to Begin Selling Off Mortgage Securities

  The department will sell up to $10 billion of its portfolio each month.

   

• Plan to Wind Down Fannie Mae and Freddie Mac Unveiled

  The Obama Administration has put forward three possible plans for the replacement of the GSEs.

   

• Housing Policy Discussion Finds Little Common Ground

  Lenders, affordable housing experts, financiers, and others focus on vastly different priorities and factors during Treasury housing summit panel.

   

• Experts Debate Government’s Future Role in Housing Finance

  Treasury Secretary Geithner calls for a new paradigm for mortgage guarantees.

   

• New Campaign Promotes Assistance For Distressed Homeowners

  Videos and other ad materials highlight homeowners who kept their houses through the Treasury Department’s Making Home Affordable Program.

   

• Mortgage Rates Likely to Remain Low Despite End of Treasury’s MBS Purchase Program

  Government sought to lower rates by buying mortgage-backed securities.

   

• U.S. Treasury Sweetens Deal For Short Sales

  Details about incentives to servicers and troubled homeowners to accept short sales are expected soon.

   

• Treasury Releases Housing Tax Credit Usage Data

  At least 300,000 taxpayers through August have bought homes using the credit, according to tax return data.

   

• Economic Free Fall May Be Behind Us

  Thanks to the government's aggressive efforts, the economic turmoil may have bottomed.

   

• Fannie Mae Could Soon Be Looking For a New Chief

  Current CEO Herb Allison reportedly is the frontrunner to run Treasury’s bailout efforts.

   

• Obama Attempts to End the Foreclosure Cycle

  Plan would allow ‘responsible homeowners’ to refinance underwater home loans and offer support and incentives to homeowners, lenders, and servicers to keep people in their homes.

   

• Latest Bailout Plan Will Include Foreclosure Relief

  Treasury Secretary emphasizes “financial stability” and “responsibility” for programs that could exceed $2.5 trillion in additional public and private spending.

   

• Treasury Secretary Henry Paulson Outlines Options for GSEs Fannie Mae and Freddie Mac

  Treasury secretary suggests public utility model may be best structure for Fannie and Freddie in future.

   

• Government May Try to Push Down Mortgage Rates

  Treasury plan could offer home buyers government-backed loans with fixed rate of 4.5 percent.

   

• Builders Wonder Whether Government Will Buy Troubled Construction Loans

  Treasury has authority to do so, thanks to $700 billion bailout.

   

• Senate Saves Bailout Proposal

  House will vote on modified proposal Friday.

   

• A Return to the RTC Days?

  Treasury announces plan to stabilize housing and financial markets by buying troubled loans and supporting purchase of more mortgage-backed securities.

   

• Builders Pulled Back on Start Activity in August

  The dip in new-home starts, according to government estimates, is the lowest for any month in 17 years.