Report: Treasury Makes it Difficult to See Below the TARP.

US Today story on TARP Special Inspector General quarterly report HERE.

Actual 256 page report is HERE , link opens directly to the Making Home Affordable program section of the report.

Money quote from news story about one of IG's recommendations (I have been pushing for a loan mod database for more than a year):

"Treasury should keep track of everyone who participates in a mortgage modification transaction and keep the information in a database. "Treasury has refused to adopt this significant anti-fraud measure designed to detect insiders who are committing large-scale fraud," the inspector general complained. "This represents a material deficiency in the MHA anti-fraud regime."

While IG focus on loan mod database is for anti fraud purposes MINE is for transparency purposes. In my version of the database individual identities would NOT be made available to the public but like HMDA database local geographic and transaction details would be so that it would be easy to see whether claimed NATIONAL benefits are being realized locally.

Originally created and posted on the Oregon Housing Blog.