U.S. Senator Charles Schumer of New York said he’ll oppose any attempts to divert money from about $3.5 billion remaining in funds from a superstorm Sandy aid law until the area has enough money to fully rebuild.
Sylvia Mathews Burwell, President Barack Obama’s choice to be his next secretary of Health and Human Services, brings experience in budgeting and management and one other important qualification: proven ability to get confirmed by a divided U.S. Senate.
Housing and Urban Development Secretary Shaun Donovan said in an interview for Bloomberg Television’s “Political Capital with Al Hunt ,” airing this weekend, that it’s too early to “declare victory” even as the housing market shows progress two years after the credit crunch drove down home prices.
Congressional Republicans criticized what they termed a lack of detail in the Treasury Department’s plan to overhaul mortgage finance while saying they would use the report as a starting point for debate over legislation.
The five largest U.S. mortgage servicers say they have given about $10.6 billion in relief to borrowers under terms of a $25 billion settlement over abusive foreclosure practices, according to a court-appointed monitor.