Superintendent Richard H. Neiman’s Opening Statement at the Congressional Oversight Panel Hearing on TARP Foreclosure Mitigation Programs

October 27, 2010 – (RealEstateRama) — Ms. Caldwell, you and the Department of Treasury deserve substantial credit for pushing an industry towards mortgage modifications and preventing avoidable foreclosures when that industry failed to appropriately act. In this way, Treasury’s HAMP program has shown great potential. Thanks to your work, we have a new industry standard that has kept more people in their homes than otherwise would have been able – certainly more than HAMP’s monthly reports demonstrate on their own.