U.S. Department of the Treasury: Hardest Hit Fund Program
This Web site includes detailed, state-by-state information about initiatives designed to limit foreclosures; these state initiatives are implemented using funds from the Hardest Hit Fund program.
U.S. Department of the Treasury: Office of Financial Stability
The Treasury Department’s Office of Financial Stability manages the Troubled Assets Relief Program (TARP). This Web site provides information on federal initiatives and major legislation, including the Emergency Economic Stabilization Act of 2008, the American Recovery and Reinvestment Act of 2009, and the Making Home Affordable Program. TARP includes several investment programs that assist struggling homeowners facing foreclosure. This Web site provides information, reports, and data on each of the programs established through TARP, including its design, purpose, and results.
U.S. Department of the Treasury: Making Home Affordable Program
The Making Home Affordable Program (MHA) is a comprehensive plan implemented by the Treasury Department to stabilize the U.S. housing market by helping homeowners get mortgage relief and avoid foreclosure. In March 2009, the Obama administration published detailed program guidelines for the MHA. Mortgage servicers were authorized to begin modifications under the plan immediately. With the assistance of several government agencies, government-sponsored enterprises, and servicers, this effort involved the development and refinement of servicer guidelines, modification documents, and data collection and modeling tools. This Web site provides information about the various MHA programs.
U.S. Department of Housing and Urban Development: Neighborhood Stabilization Program
This Web site contains detailed information about the Department of Housing and Urban Development’s Neighborhood Stabilization Program, which provides grants to states and certain local communities to purchase foreclosed or vacant homes and to rehabilitate, resell, or redevelop these properties. Guidelines about the program as well as specific information about the grantee plans are available here.
OCC Community Affairs’ Neighborhood Stabilization Resource Directory
This Web site offers links to information about strategies that can help mitigate the negative effects of rising foreclosures on communities across the country.
OCC Foreclosure Prevention Resource Directory
This Web site is a resource directory for mortgage servicers working to reduce the incidence of foreclosures in their servicing portfolios, which also benefits investors, borrowers, and affected communities. The resources are useful for borrowers working to cure delinquent mortgages and the counseling organizations that work with these borrowers, as well as for other entities interested in reducing foreclosures.
OCC Community Developments Insights Report, "Foreclosure Prevention: Improving Contact With Borrowers"
This report highlights some of the best practices that loan servicers are using to improve their contact rate with delinquent mortgage borrowers. These best practices include the use of sophisticated scoring models, customer-friendly approaches, partnerships with nonprofit credit counselors, and Web-based information on workout options.
OCC Community Developments Investments Newsletter, “ Homeownership: Preserving the American Dream”
This newsletter focuses on ways banks can help reduce foreclosure through partnering with nonprofits and successfully implementing early intervention strategies with troubled borrowers.
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