Watchdog report says Treasury shifts goals on $75 billion mortgage assistance plan

Watchdog report criticizes Obama mortgage plan

WASHINGTON — A watchdog report is criticizing the Obama administration for shifting the goals of its $75 billion mortgage assistance program,

The report issued by Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, says the Obama administration is measuring the performance of the program by a standard that is “not particularly meaningful.”

Obama officials originally projected last year that the program would help 3 million to 4 million homeowners. But with only 170,000 borrowers completing the program so far, administration officials now say the plan’s goal is to merely offer help to those millions.