Treasury to make ‘symbolic’ changes to home-affordability programs, analyst says
MarketWatch - June 25, 2014 - June 25, 2014
June 25, 2014, By Ruth Mantell
The Obama administration is set to announce changes to its home-affordability initiatives, but the updates are likely to be “narrowly targeted and largely symbolic,” an analyst says.
U.S. Treasury Secretary Jacob Lew is scheduled to make closing remarks Thursday afternoon at a housing summit in Washington, focusing on new policies to help struggling homeowners, increase affordable housing and expand credit access. But the timing of Lew’s announcement likely means that the administration’s new efforts may not impact many borrowers, wrote Isaac Boltansky, an analyst at Compass Point Research & Trading, a Washington-based investment firm.