Recently, the U.S. Department of Housing and Urban Development (HUD), the U.S. Department of the Treasury, and the U.S. Department of Agriculture (USDA) hosted a White House Forum on Housing to discuss programs and initiatives promoted by the Obama Administration that help responsible homeowners and struggling communities hit hardest by the housing crisis. The White House Housing Forum convened Georgia housing officials, regional and local leaders, housing and development alliances and community advocates in the Eisenhower Executive Office Building this afternoon for the discussion.
Forum sessions, led by White House and Administration officials, explored tools and resources offered by the federal government and detailed help for homeowners, assistance for underserved communities, insights for cultivating public-private partnerships and the future of housing. Additionally, the historic $25 billion foreclosure settlement, the President’s new housing initiatives and legislative proposals impacting housing reforms were discussed.
The unprecedented mortgage servicers settlement is the largest federal-state civil agreement ever obtained and is the result of extensive investigations led by federal agencies, including the Department of Justice, HUD, the HUD Office of the Inspector General (HUD-OIG), 49 state attorneys general and state banking regulators across the country. The joint federal-state group entered into the agreement with the nation’s five largest mortgage servicers: Bank of America Corporation, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup Inc., and Ally Financial Inc. (formerly GMAC)—and as a result all Americans are ensured a fair shot, their fair share and fair deal.
Participants shared “best practices” and provided feedback on the effectiveness of targeted federal programs and initiatives.
Additionally, in the coming weeks, the Obama Administration will hold additional housing events including a Making Home Affordable homeowner event where borrowers can learn about foreclosure prevention options and get immediate help connecting with a loan servicer representative and local housing counselor. The event will be held in Atlanta, GA at the Georgia International Convention Center on June 1-2.
For more information, visit www.hud.gov.