Homes in Peril : A Study of Foreclosure Issues.

Intro -- Homes in Peril: A Study of Foreclosure Issues -- Contents -- Preface -- Foreclosure Crisis: Working Toward a Solution -- Executive Summary -- Section One: The Foreclosure Crisis: Working Toward a Solution -- Obstables to Loan Succes and Foreclosure Mitigation: Past Programs -- Checklist for Successful Loan Modifications -- Policy Issues -- The Homeowner Affordability and Stability Plan -- Section Two: Additional Views -- Richard Neiman, Damon Silvers and Elizabeth Warren -- Correspondence with Treasury Update -- Tarp Updates Since Prior Report -- Section Five: Oversight Activities -- Section Six: About the Congressional Oversight Panel -- Acknowledgments -- Appendix I. Letter From Congressional Oversight Panel Chair Elizabeth Warren to Treasury Secretary Mr. Timothy Geithner, Dated January 28, 2009 -- Appendix II. Letter From Treasury Secretary Mr. Timothy Geithner to Congressional Oversight Panel Chair Elizabeth Warren, Dated February 23, 2009 -- Joint Statement -- Homeowner Affordability and Stability Plan -- Appendix III. Letter from Congressional Oversight Panel Chair Elizabeth Warren to Treasury Secretary Mr. Timothy Geithner, Dated March 5, 2009 -- Appendix IV. Mortgage Survey Letter from Congressional Oversight Panel Chair Elizabeth Warren to Treasury Secretary Mr. Timothy Geithner, Dated February 4, 2009 -- Appendix V. Mortgage Survey from Congressional Oversight Panel to Numerous Recipients -- Appendix VI. Mortgage Survey Data from the Office of the Comptrollers of the Currency and the Office of Thrift Supervision -- Occ/Ots Mortgage Metrics - Loan Level Data Collection: Field Definitions -- Appendix VII. Mortgage Survey Data from The Federal Deposit Insurance Corporation -- Congressional Oversight Panel Mortgage Foreclosure Mitigation Survey -- Resonses to Questions 41, 42, 43, 44, 45, and 46 -- References.

Coping with the Foreclosure Crisis: State and Local Efforts to Combat Foreclosures in Prince George's County, Maryland -- Testimony of Anne Balcer Norton, Esquire Director, Foreclosure Prevention St. Ambrose Housing Aid Center, Inc. before the Congressional Oversight Panel February 27. 2009 -- Affordability and Redefault -- Length of Delinquency -- Negative Equity and Junior Liens -- Capacity -- Access to Credit and Retail Markets -- Securitization -- Testimony of Secretary Thomas E. Perez Maryland Department of Labor, Licensing and Regulation Congressional Oversight Panel February 27, 2009 -- Legal and Regulatory Reform -- Enforcement -- Outreach -- Servicer Agreements -- Modification Data: What We've Learned -- Data Limitations and Need for Federal Cooperation -- Consumer Protection -- A State-Federal Partnership -- Lessons Learned -- Foreclosure Crisis: Rep. Jeb Hensarling -- Introduction -- Contributing Causes -- Necessary Considerations in Evaluating Foreclosure Mitigation Plans -- Universe of People -- Voluntary Mitigation Alternatives -- References -- II. Richard Neiman, Damon Silvers and Elizabeth Warren -- References -- Preserving Homeownership: Foreclosure Prevention Initiatives -- Abstract -- Introduction and Background -- Recent Market Trends -- Impacts of Foreclosure -- The Policy Problem -- Why Might a Household Find Itself Facing Foreclosure? -- Changes in Household Circumstances -- Mortgage Features -- Adjustable-Rate Mortgages -- Zero-Downpayment or Low-Downpayment Loans -- Interest-Only Loans and Negative Amorization Loans -- Alt-A Loans -- Types of Loan Workouts -- Repayment Plans -- Principal Forbearance -- Principal Write-Downs/Principal Forgiveness -- Interest Rate Reductions -- Extended Loan Term/Extended Amortization -- Recent Foreclosure Prevention Initiatives -- Indymac Loan Modifications -- Hope for Homeowners.

Fannie Mae and Freddie Mac -- Federal Reserve -- Foreclosure Counseling Funding to Neighborworks America -- State and Local Initiatives -- Private Initiatives -- Hope Now Alliance -- Bank of America -- JP Morgan Chase -- Citigroup -- Other Foreclosure Prevention Proposals -- Changing Bankruptcy Law -- Foreclosure Moratorium -- Federal Deposit Insurance Corporation Plan -- Use of TARP Funds -- Issues and Challenges Associated with Preventing Foreclosures -- Who has the Authority to Modify Mortgages? -- Volume of Delinquencies and Foreclosures -- Possibility of Re-Default -- Fairness Issues -- Incentives -- Precedent -- Appendix I. Comparison of Recent Federal Foreclosure Prevention Initiatives -- References -- Press Release for Congressional Oversight Panel (COP) Report on Foreclosure -- Troubled Asset Relief Program and Foreclosures -- Abstract -- Introduction -- Modifications to EESA -- Service Safe Harbor -- Explicitly Address the Obstacle of Second Liens -- Other Provisions -- Summary -- Appendix A. Mortgage Origination [6] and Securitization Process -- Appendix B. Establishment of Consistent Net Present Value Test -- Appendix C. Foreclosure and Difficulties Curtailing the Problem -- Appendix D. Legislative History -- Author Contact Information -- References -- Index.

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