ProPublica

Journalism in the Public Interest

Cancel

FHA Refinance Program Fund

Washington, D.C. | See all recipients in District of Columbia

Entities in this category received subsidies through one of TARP’s housing programs and aren’t expected to return the money

$60M Disbursed
$1.03B Committed
Jump to table of transactions
Find a Bailout
Type the name of a bank:

Find bailouts in your state:


  • Our frequently updated database tracks every dollar. In the scorecard, we provide a summary generated from the latest numbers.

In September of 2010, the Treasury Department committed $8 billion (plus $117 million in fees to Citigroup for providing a letter of credit for that amount) to its FHA Refinance program. The program is aimed at helping underwater homeowners refinance into mortgages with a reduced principal. See our description of the program for more info.

Events

  • $1.03B Bailout

    Sep. 3, 2010

    In March 2013, Treasury extended the letter of credit facility to provide coverage for loans refinanced throughout the eligibility period, which had
    been extended to December 2014, but reduced the amount from $8 billion to $1 billion. Treasury believes this lower amount will be sufficient to
    accommodate any increased usage that could result through the close of the program.

    $60M has actually been disbursed.
    Mar. 30, 2013: $60M

    In March 2013, Treasury extended the letter of credit facility to provide coverage for loans refinanced throughout the eligibility period, which had
    been extended to December 2014, but reduced the amount from $8 billion to $1 billion. Treasury believes this lower amount will be sufficient to
    accommodate any increased usage that could result through the close of the program. The figures in this line include administrative expenses
    associated with the letter of credit facility.

Date Type Amount Program Description
09/03/2010 Subsidy $1,030,000,000 FHA-Re

For our blog, resources and more, see our main bailout page.