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But a Congressional oversight panel reported on Jan . 9that it found no evidence the bailout program had been used to prevent foreclosures, raising questions about whether the Treasury has complied with the law's requirement that it develop a "plan that seeks to maximize assistance for homeowners".
Watt said the small-scale plan balances the agency's statutory mandate to "maximize assistance for homeowners" while not adversely affecting the finances of Fannie and Freddie.
But even if that were true, there is no question that he has thumbed his nose at the law that requires him to maximize assistance for homeowners to minimize foreclosures.
As the panel noted: "For Treasury to take no steps to use any of this money to alleviate the foreclosure crisis raises questions about whether Treasury has complied with Congress's intent that Treasury develop a 'plan that seeks to maximize assistance for homeowners.' " Yet Obama successfully lobbied for a quick payout of the second installment.
The department took "no steps to use any of [the $700 billion rescue package] to alleviate the foreclosure crisis," and that "raises questions about whether Treasury has complied with Congress' intent that Treasury develop a 'plan that seeks to maximize assistance for homeowners,'" the report said.
Similar(54)
The law states that the Treasury Department is required to "maximize assistance to homeowners" and encourage mortgage servicers to modify loans through programs including Hope for Homeowners, which went into effect this week.
Children classified as GMFCS IV require supportive seating for trunk control and to maximize upper limb function, and assistance for transfers.
"This helps us maximize the bang for our buck".
Offerred assistance for family".
Assistance for weapons elimination.
Assistance for S. Cons.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com