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.
The largest U.S. mortgage servicers, including Citigroup Inc. and Bank of America Corp., haven’t done enough to upgrade their treatment of customers in danger of foreclosure, according to a court-appointed monitor.
When the largest U.S. banks agreed to pay $25 billion last year to settle claims of abusive foreclosure practices, they promised to stop seizing homes from borrowers who had completed applications for mortgage help.