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Shaun Donovan, HUD Chief, Hopes Fannie Mae and Freddie Mac Will Write Down Mortgages
The Huffington Post
Currently the mortgage giants control about half of all outstanding mortgages nationwide; and many of the borrowers involved owe more than their homes are worth. These homeowners, however, are not eligible for relief under the new settlement. Only a...
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WASHINGTON, D.C.--The $25 billion home mortgage settlement announced this week will be especially important for ethnic families, said Department of Housing and Urban Development (HUD) Secretary Shaun Donovan, in a call-in press briefing...
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WASHINGTON, DC - FEBRUARY 09: U.S. President Barack Obama (2R), joined by (L-R) Illinois Attorney General Lisa Madigan, U.S. Attorney General Eric Holder and Housing and Urban Development Secretary Shaun Donovan, speaks about the details of a $26... View Photo »
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We have significant concerns about the level of the fund
– Shaun Donovan SOURCE: Bloomberg.com -
Barack Obama, flanked by Attorney General Eric Holder, left, and Housing and Urban Development Secretary Shaun Donovan, gestures as he discusses the mortgage settlement, Thursday, Feb. 9, 2012, in the Eisenhower Executive Office building on the White...
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The use of reserves is expected to help offset significant cuts in federal subsidies for various housing programs offered by the authority. Those subsidy cuts were included in the U.S. Department of Housing and Urban Development’s proposed 2012 budget,...
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Although borrowers around the country owe more than $700 billion more on their homes than the homes are worth, the settlement offers only $26 billion in fines and relief to homeowners. It’s hard to see how this becomes a “catalytic” agent for reviving...
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WASHINGTON, DC - FEBRUARY 09: U.S. Housing and Urban Development Secretary Shaun Donovan (L) speaks as Connecticut Attorney General George Jepsen listens during a news conference February 9, 2012 at the Department of Justice in Washington, DC. Holder... View Photo »
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While the fund has remained positive, we are keenly aware of the importance of remaining vigilant to the risks the agency faces and will continue to take the actions necessary to protect the fund and taxpayers
– Shaun Donovan SOURCE: Reuters Mobile -
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Part of the proceeds also will help plug a projected shortfall in the reserves of the Federal Housing Administration. Shaun Donovan, secretary of Housing and Urban Development, said in a conference call with reporters Monday that the financial firms...
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Some of that would go to mortgage and foreclosure relief. Bundle that in with the $25 billion deal big banks made with state and federal regulators last week and good things might start to happen. We've heard from analysts and regulators about it, and...
About Shaun Donovan
Wikipedia
Shaun L.S. Donovan (born January 24, 1966) serves as United States Secretary of Housing and Urban Development in the cabinet of President Barack Obama. Prior to this he headed the New York City Department of Housing Preservation and Development. On December 13, 2008, in his weekly national radio address, President-elect Barack Obama announced... Full Article
Related Photos
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Reuters Pictures
U.S. Housing and Urban Development Secretary Shaun Donovan (L) and U.S. Attorney General Eric Holder (R) listen to Colorado Attorney General John Suthers (at podium) during a news conference February 9, 2012 in Washington that announced the federal government and 49 state attorneys general...
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AP Photo
Housing and Urban Development (HUD) Secretary Shaun Donovan, left, smiles as he listens to Colorado Attorney General John Suthers, right, speak during a news conference at the Justice Department in Washington, Thursday, Feb. 9, 2012, where a settlement regarding mortgage loan servicing and...
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AP Photo
Housing and Urban Development (HUD) Secretary Shaun Donovan, center, listens as Iowa Attorney General Tom Miller, right, speaks during a news conference at the Justice Department in Washington, Thursday, Feb. 9, 2012, to discuss a settlement regarding mortgage loan servicing and foreclosure...
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AP Photo
Attorney General Eric Holder, center, talks with Housing and Urban Development (HUD) Secretary Shaun Donovan, right, at the Justice Department in Washington, Thursday, Feb. 9, 2012, during a news conference to announce a settlement regarding mortgage loan servicing and foreclosure abuse.
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AP Photo
Attorney General Eric Holder, center, accompanied by Housing and Urban Development (HUD) Secretary Shaun Donovan, right, Iowa Attorney General Tom Miller, and other federal and state officials announces a settlement regarding mortgage loan servicing and foreclosure abuse, Thursday, Feb....
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Reuters Pictures
U.S. Secretary of Housing and Urban Development Shaun Donovan (L) joins Press Secretary Jay Carney (R) for the daily press briefing at the White House in Washington February 1, 2012. President Barack Obama on Wednesday called on Congress to approve a $5 billion to $10 billion effort to...
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Getty Images
WASHINGTON, DC - FEBRUARY 09: U.S. President Barack Obama (2R), joined by (L-R) Illinois Attorney General Lisa Madigan, U.S. Attorney General Eric Holder and Housing and Urban Development Secretary Shaun Donovan, speaks about the details of a $26 billion housing settlement between...
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Getty Images
WASHINGTON, DC - FEBRUARY 09: Iowa Attorney General Tom Miller (L) talks with Connecticut Attorney General George Jepsen (2nd L) as Housing and Urban Development Secretary Shaun Donovan (2nd R) and U.S. Attorney General Eric Holder leave at the end of a news conference February 9,...
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Getty Images
WASHINGTON, DC - FEBRUARY 09: U.S. Attorney General Eric Holder (5th L) speaks while Housing and Urban Development Secretary Shaun Donovan (5th R), Colorado Attorney General John W. Suthers (3rd L) Iowa Attorney General Tom Miller (4th L), and other officials listen during a news...
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Reuters Pictures
U.S. Attorney General Eric Holder (R) and U.S. Housing and Urban Development Secretary Shaun Donovan (at podium) announce February 9, 2012 in Washington that the federal government and 49 state attorneys general have reached a $25 billion agreement with the nation's five largest mortgage...
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AP Photo
Attorney General Eric Holder, center, and Housing and Urban Development Secretary Shaun Donovan listen as President Barack Obama speaks about a mortgage settlement, Thursday, Dec. 9, 2012, in the Eisenhower Executive Office building on the White House complex in Washington.
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AP Photo
President Barack Obama, flanked by Attorney General Eric Holder, left, and Housing and Urban Development Secretary Shaun Donovan, gestures as he discusses the mortgage settlement, Thursday, Feb. 9, 2012, in the Eisenhower Executive Office building on the White House complex in...
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AP Photo
Housing and Urban Development (HUD) Secretary Shaun Donovan listens at left as Colorado Attorney General John Suthers speaks during a news conference at the Justice Department in Washington, Thursday, Feb. 9, 2012, to discuss a settlement regarding mortgage loan servicing and foreclosure...
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AP Photo
Housing and Urban Development (HUD) Secretary Shaun Donovan listens at left as Iowa Attorney General Tom Miller gestures during a news conference at the Justice Department in Washington, Thursday, Feb. 9, 2012, to announce a settlement regarding mortgage loan servicing and foreclosure abuse...
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AP Photo
Attorney General Eric Holder listens at right as Housing and Urban Development (HUD) Secretary Shaun Donovan speaks during news conference at the Justice Department in Washington, Thursday, Feb. 9, 2012, to announce a settlement regarding mortgage loan servicing and foreclosure abuse.
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AP Photo
Housing and Urban Development (HUD) Secretary Shaun Donovan, second from right, and others, watch as Attorney General Eric Holder announces a settlement regarding mortgage loan servicing and foreclosure abuse, Thursday, Feb. 9, 2012, at the Justice Department in Washington.
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Getty Images
US Secretary of Housing and Urban Development (HUD) Shaun Donovan speaks during a press briefing in the Brady Press Briefing Room at the White House in Washington, DC, February 1, 2012. US President Barack Obama earlier outlined steps to support a housing market recovery, including help...
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AP Photo
Housing and Urban Development Secretary Shaun Donovan speaks during the daily news briefing at the White House in Washington, Wednesday, Feb. , 1, 2012.
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AP Photo
Housing and Urban Development Secretary Shaun Donovan listen at left as White House Press Secretary Jay Carney speaks during his daily news briefing at the White House in Washington, Wednesday, Feb. , 1, 2012.
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AP Photo
President Barack Obama walks with Housing and Urban Development Secretary Shaun Donovan as they return to the White House in Washington, Wednesday, Feb. 1, 2012.
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Reuters Pictures
U.S. President Barack Obama explains the details of the $26 billion deal to settle charges of widespread mortgage fraud by some of the nation's largest banks in the Eisenhower Executive Office Building on the White House complex in Washington, February 9, 2012. Pictured (L-R) are...
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Reuters Pictures
U.S. President Barack Obama speaks about the details of the $26 billion deal to settle charges of widespread mortgage fraud by some of the nation's largest banks in the Eisenhower Executive Office Building on the White House complex in Washington, February 9, 2012. Pictured (L-R) are...
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Getty Images
US President Barack Obama speaks about the home loan mortgage settlement between US states and five leading banks at the Eisenhower Executive Office Building adjacent to the White House in Washington, DC, February 9, 2012. The US Justice Department announced a $25 billion settlement...
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AP Photo
President Barack Obama speaks about a mortgage settlement, Thursday, Feb. 9, 2012, in the Eisenhower Executive Office building on the White House complex in Washington. From left are, North Carolina Attorney General Roy Cooper, the president, Attorney General Eric Holder, and Housing...
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Reuters Pictures
Assistant Attorney General for the Civil Rights Division Thomas E. Perez (C) speaks during a news conference at the Department of Justice flanked by Attorney General Eric Holder (L) and Department of Housing and Urban Development Secretary Shaun Donovan (R) in Washington D.C. December 21,...
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Reuters Pictures
U.S. Housing and Urban Development Secretary Shaun Donovan (L) and U.S. Attorney General Eric Holder (R) listen to Colorado Attorney General John Suthers (at podium) during a news conference February 9, 2012 in Washington that announced the federal government and 49 state attorneys general...
View Photo »
