{"id":447960,"date":"2010-03-19T14:48:06","date_gmt":"2010-03-19T18:48:06","guid":{"rendered":"http:\/\/washingtonindependent.com\/?p=79778"},"modified":"2010-03-19T14:48:06","modified_gmt":"2010-03-19T18:48:06","slug":"house-oversight-panel-to-examine-foreclosure-prevention-efforts","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/447960","title":{"rendered":"House Oversight Panel to Examine Foreclosure Prevention Efforts"},"content":{"rendered":"<p>A few weeks back, it was the House Oversight Committee&#8217;s domestic subpanel that examined the effectiveness of the White House programs designed to curb foreclosures. (<a href=\"http:\/\/washingtonindependent.com\/77740\/democrats-demand-more-relief-for-troubled-housing-market\" >They weren&#8217;t pleased<\/a>.) Now, the full committee will have a crack.<\/p>\n<p>Rep. Edolphus Towns (D-N.Y.), chairman of the Oversight panel, just announced a March 25 hearing to appraise Obama&#8217;s anti-foreclosure efforts, particularly the Home Affordable Modification Program. That initiative <a href=\"http:\/\/www.treas.gov\/press\/releases\/tg33.htm\" >was sold<\/a> as a way to help 3 to 4 million struggling homeowners by offering lenders financial incentives to modify mortgages voluntarily. As of last month, only <a href=\"http:\/\/www.housingwire.com\/2010\/02\/17\/servicers-make-116000-hamp-trials-permanent\/\" >116,000<\/a> permanent mods had been finalized &#8212; a number that&#8217;s left lawmakers on both sides of the aisle unhappy with HAMP&#8217;s progress.<span id=\"more-79778\"><\/span><\/p>\n<p>Next week, they&#8217;ll have even more data to scrutinize. Neil Barofsky, lead watchdog over the\u00a0Troubled Asset Relief Program, is scheduled will release his report on HAMP management.<\/p>\n<p>Other witnesses will include\u00a0Herbert Allison, Jr., the Treasury&#8217;s assistant secretary for financial stability, and\u00a0Gene Dodaro, who heads the U.S.\u00a0Government Accountability Office.<\/p>\n<p>The reasons behind the gathering are clear: While Wall Street is back to sipping champagne (<a href=\"http:\/\/www.businessinsider.com\/bonus-watch-2009-goldman-sachs-pays-huge-bonuses-and-gives-junior-bankers-a-50-salary-raise-2010-1\" >literally<\/a>), more than <a href=\"http:\/\/www.realtytrac.com\/contentmanagement\/pressrelease.aspx?channelid=9&amp;itemid=8695\" >308,000<\/a> homeowners suffered foreclosure last month alone, up 6 percent from the year before, according to RealtyTrac.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A few weeks back, it was the House Oversight Committee&#8217;s domestic subpanel that examined the effectiveness of the White House programs designed to curb foreclosures. (They weren&#8217;t pleased.) Now, the full committee will have a crack. Rep. Edolphus Towns (D-N.Y.), chairman of the Oversight panel, just announced a March 25 hearing to appraise Obama&#8217;s anti-foreclosure [&hellip;]<\/p>\n","protected":false},"author":4315,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-447960","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/447960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4315"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=447960"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/447960\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=447960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=447960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=447960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}