TARP Watchdog Faults Treasury For $7.6B Fund Delays

Law360, New York (April 12, 2012, 2:21 PM EDT) -- A $7.6 billion piece of the Troubled Asset Relief Program aimed at homeowners in the areas hit hardest by the housing crisis is falling behind thanks to a lack of planning and transparency by the U.S. Treasury Department, the program's regulatory watchdog said in a report issued Thursday.

The Hardest Hit Fund has used only 3 percent of the TARP funds allocated to assist homeowners in 18 states with mortgages, unemployment and relocation, and has reached only 7 percent of the minimum number of homeowners expected...
To view the full article, register now.