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    Despite tight inventory and affordability concerns, Pending home sales still increased for the third consecutive month in April, surging to the highest level in over a decade. Here's why Lawrence Yun, National Association of Realtors' chief economist, said sales are beating the odds. Click headline to read more.

Items Tagged with 'Department of Housing and Urban Development'

ARTICLES

Guild Mortgage becomes DOJ's latest target over alleged FHA-lending violations

Lender says it plans to fight back against allegations of False Claims Act violations
Over the last several years, lenders like Wells Fargo, Franklin American Mortgage, Walter Investment, First Tennessee Bank, Freedom Mortgage and M&T Bank chose to settle with the Department of Justice after being accused of originating and underwriting mortgage loans that did not meet Federal Housing Administration standards. Now, Guild Mortgage is next on the DOJ’s hit list, but the lender says it plans to fight back.
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Politicos want to refinance HUD, start by looking in the wrong place

U.K. affordable housing as good model? Not even close
It's true that the financing of social housing operates very differently in the two systems. But let’s be 100% clear: that is where the comparison ends. The thought that affordable housing in the U.K. somehow offers a better social alternative is laughable, at the very least. And here's why.
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Fidelity Bank accused of denying mortgage loans based on race

North Carolina-based bank agrees to $1M settlement over discriminatory lending
North Carolina-based Fidelity Bank reached a $1 million settlement over allegations that the bank engaged in discriminatory lending practices. The settlement agreement stems from a complaint filed by the Fair Housing Project of North Carolina Legal Aid, which accused Fidelity Bank of denying mortgage loans based on race, which would be a violation of the Fair Housing Act.
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Freedom Mortgage to pay $113 million for FHA violations

Unusually high levels of defective mortgages
Freedom Mortgage Corporation now has more in common with Wells Fargo, Franklin American Mortgage, Walter Investment, and First Tennessee Bank than simply being mortgage lenders, as Freedom Mortgage is set to become the latest mortgage company to settle with the Department of Justice over alleged violations of the False Claims Act.
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Progressives using HUD NPL sales to disqualify Castro as Democratic VP nominee

Fighting within Democratic Party leads to attacks on HUD Secretary
The in-fighting over the Democratic Party's 2016 nominee for President suddenly placed HUD Secretary Julián Castro in the crossfire. Now, a cadre of progressive groups are targeting Castro in an attempt to disqualify him as Hillary Clinton’s potential nominee, and using HUD’s practice of selling non-performing loans to private investors as their weapon.
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Exploding population sends rents soaring in Dallas

Can housing starts close the gap?
According to a recent study by the Texas A&M Real Estate Research Center, DFW’s population could double in the next 25 years. As more people move to the area, housing supply just can’t keep up, pushing potential homebuyers into the rent market. So how bad is it?
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