House Moves to End Borrower Aid Programs At HUD, Treasury’s HAMP Program

The Republican-controlled House began work March 11 on a package of four bills that would dismantle housing relief programs designed by the Obama administration and Democratic lawmakers in response to the foreclosure crisis.

The House voted 256-171 in favor of legislation (H.R. 830) that would terminate the Federal Housing Administration’s (FHA) short finance program. Similar action is expected March 12 on a bill (H.R. 836) that would eliminate the Emergency Mortgage Relief Program Termination Act.

Both programs are off to a slow start at the Department of Housing and Urban Development. The FHA refinance initiative, which encourages private lenders to ...