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SIGTARP Recommends Treasury Put To Better Use Unspent Funds In Tarp To Enhance Existing Unemployment Mortgage Assistance Through Hardest Hit Fund In Light Of Recent Significant Unemployment

SIGTARP recommended that Treasury use unspent TARP funds to enhance existing mortgage assistance to unemployed homeowners in the Hardest Hit Fund.

SIGTARP identifies wasteful spending to help the government recover taxpayer funds. We identify abuse and vulnerabilities that put federal dollars at risk of fraud.

- Special Inspector General Goldsmith Romero

SIGTARP audits TARP programs to prevent fraud and abuse, identify wasteful spending, and drive improvements. We ensure these programs are effective and efficient at achieving the U.S. Treasury Department's goals, including neighborhood stabilization and homeownership preservation.

When our team of forensic auditors and evaluators find a program may be at risk, they get to work reviewing documents, interviewing and analyzing. After an audit confirms waste, abuse, or fraud, SIGTARP looks for ways to recover taxpayer dollars and mitigate the risk by leveraging best practices and our extensive knowledge of TARP. We then issue recommendations to the U.S. Treasury Department, which we share with Congress and the public.

TARP programs include:

The Hardest Hit Fund
  • Unemployment assistance to 19 states
  • Demolition of abandoned homes to stabilize neighborhoods

Home Affordable Modification Program
  • Lower homeowner interest rates through contracts to pay mortgage servicers