News

Spotlight on what new HUD budget will do to LA's homeless housing efforts

Future of section 8 housing in LA
The city of Los Angeles just started to get the ball rolling on its efforts to solve its homelessness crisis. However, due to President Donald Trump’s new budget proposal that would severely cut costs for the Department of Housing and Urban Development, the city’s homeless efforts might not go according to the original plan.
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Ocwen adds Robert Lipstein as independent member of board of directors

Ronald Korn stepping down
Ocwen Financial announced Monday that it is increasing the size of its board of directors from eight members to nine members – for a few months. According to a SEC filing, Ocwen’s board is adding Robert Lipstein to serve as an independent member. Lipstein will be the ninth member of Ocwen’s board, until May 22, 2017, when Ronald Korn steps down from the board.
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Experian partners with Finicity to digitize mortgage underwriting

Could expand credit opportunities for 64 million "credit invisible" consumers
Aiming to make the mortgage process easier for lenders and consumers alike, Experian announced that it is partnering with Finicity to digitize the mortgage underwriting process. According to Experian, the partnership will allow loan approvals in as little as 10 days, and open up the credit box to roughly 64 million consumers that have limited or no traditional credit history.
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Ben Carson promises to take care of housing’s most vulnerable

Expected budget cuts may be coming to HUD
After President Donald Trump announced his budget proposal which would slash funding for the U.S. Department of Housing and Urban Development by $6.2 billion, HUD Secretary Ben Carson voiced his support of the action. However, Carson promised in an interview with Fox News this new funding cut would not hinder the department’s purpose, and that the most vulnerable will be taken care of.
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New Louisiana program to help 2016 flood victims find a home

Louisiana Housing Heroes dedicates rental housing to families in need
Louisiana Housing Heroes, a new initiative from the state’s governor, the U.S. Department of Housing and Urban Development and Louisiana Housing Corp., seeks to help victims of 2016’s floods find affordable rental housing. The state’s governor asks all owners and managers of rental housing to help citizens who were displaced.
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An inside look at why one Fed president voted not to raise interest rates

Thoughts from Minneapolis Fed President Neel Kashkari
Minneapolis Fed President Neel Kashkari is the only Federal Reserve official who voted against raising the existing target range for the federal funds rate during the March meeting. Kashkari, in a rare move, explained his reasoning in a blog post on Medium. In his words, “Given that I reached a different conclusion than my colleagues, I thought it appropriate to provide an explanation.”
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Former HUD senior advisor Richard Green: Here are the issues with Trump's budget

Ginnie Mae staffing levels and FHA infrastructure will both suffer

Late last week, Julián Castro, who served as secretary of the Department of Housing and Urban Development from 2014 to 2017 under former President Barack Obama, told HousingWire that he has several issues with President Donald Trump’s budget proposal, which calls for a $6.2 billion cut to HUD’s budget. But Castro isn’t the only former HUD official to express concerns with Trump’s budget.


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