Items Tagged with 'Treasury Department'

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Trump picks former Goldman Sachs exec, OneWest chairman Steve Mnuchin to lead Treasury

Led mortgage bond trading at Goldman Sachs
Steve Mnuchin, a former executive at Goldman Sachs and former chairman of OneWest Bank, is President-elect Donald Trump’s choice to lead the Department of the Treasury during his administration, Trump’s transition team announced Wednesday morning. Here's more information on Mnuchin's long history in finance and mortgages and a look at the varied reactions to his appointment.
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Trump reportedly considering Rep. Jeb Hensarling to lead Treasury

House Financial Services Committee chairman to cabinet post?
In another indication of how President-elect Donald Trump plans to pursue financial reform, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is reportedly being considered to serve as Secretary of the Treasury in the Trump administration.
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U.S. expands investigation into money laundering by foreign cash buyers

Government finds evidence of suspicious activities in high-end real estate
The federal government revealed Wednesday that its investigation into foreign buyers using high-end U.S. real estate as a means to launder money found that potentially illicit activity is behind a "significant" portion of the cash transactions in Manhattan and Miami, and plans to expand the investigation into Los Angeles, San Francisco, and several other areas.
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Obama administration presents a look at life after HAMP

Feds provide a preview of what's next
Time is ticking on the government's Home Affordable Modification Program and Home Affordable Refinance Program, as both will end on Dec. 31, 2016. In a comprehensive report published Monday, the Treasury, HUD, and the FHFA say that while these programs are set to end this year, the government plans to continue working with the mortgage industry on various loss mitigation programs moving forward, but caution that the industry needs to be prepared to do more.
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Treasury committing $1 billion more to fight blight, help struggling borrowers

Announces next round of Hardest Hit Fund allocations
In February, the Department of the Treasury announced that it planned to boost the Hardest Hit Fund by as much as $2 billion. The first round of funding saw the Treasury Department allocate $1 billion. And Wednesday, the Treasury announced the second round of funding, with $1 billion more now set aside to fight blight and help struggling homeowners.
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From HW Magazine

Smoking gun?

What a Treasury memo reveals about its intentions for GSEs and investors
The Treasury document also contradicts statements made a number of times by Treasury officials about the capital ratios that Fannie Mae and Freddie Mac would have to maintain. The document claims the percent is 3% to 4%, while statements since then have claimed 10%.
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Financial Stability director: SIFI designation is not “too big to fail”

Pinschmidt: “That’s just plain wrong”
During the Monday keynote address at ABS East in Miami, Patrick Pinschmidt, the deputy assistant secretary and executive director of the FSOC, said that the SIFI designation is designed to bring additional oversight of nonbanks in an attempt to mitigate the impact of a nonbank’s potential failure on the country’s economy.
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