Government Gives Itself High Marks on New Housing Scorecard

The U.S. Treasury and HUD on Monday released a new monthly scorecard, touting the success of the administration’s full scope of efforts to stabilize the nation’s fraught housing industry. HUD Secretary Shaun Donovan called the new scorecard a snapshot of the “total picture,” illustrating just how far the market has come back from the depths of a crisis. “There is no doubt that today’s housing market is in significantly better shape than anyone predicted 18 months ago,” Donovan said. Since April 2009, the scorecard shows that 6.1 million homeowners have refinanced into new mortgages and 2.8 million have received modified mortgages.

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