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Loan mods TARP funds subject of Hill hearings
WASHINGTON (2/24/09)—Loan modifications and the Troubled Asset Relief Program (TARP) will be the topic of two hearings on Capitol Hill Tuesday. The House Financial Services Oversight and Investigations Subcommittee Chairman Dennis Moore (D-Kan.) announced the first hearing, “A Review of TARP Oversight, Accountability and Transparency for U.S. Taxpayers.” Witnesses scheduled to testify include:
* Neil M. Barofsky, special inspector general, Office of the Special Inspector General, TARP; * Gene L. Dodaro, acting comptroller general, Government Accountability Office; and * Elizabeth Warren, Chair, congressional Oversight Panel, Leo Gottlieb professor of Law, Harvard University.
The second hearing is, “Loan modifications: Are Mortgage Servicers Assisting Borrowers with Unaffordable Mortgages.” Witnesses scheduled to testify include:
* Vance Morris, director for Single Family Asset Management, U.S. Department of Housing and Urban Development; * Grovetta Gardineer, managing director, Corporate and International Activities, Office of Thrift Supervision; * Joseph H. Evers, deputy comptroller for Large Bank Supervision, Office of the Comptroller of the Currency; and * Patrick J. Lawler, chief economist, Federal Housing Finance Agency.


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