Nationstar Holdings posts $48.3M loss in first quarter

Nationstar Holdings posts $48.3M loss in first quarter

Lower servicing revenue proves heavy drag

5 things mortgage lenders need to do before TILA RESPA goes into effect

Compliance is important

Monday Morning Cup of Coffee: Home price and wage divergence raise alarms

Plus the endgame for two billion-dollar R&W settlements?
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Items Tagged with 'Department of Housing and Urban Development'

ARTICLES

U.S. sues Quicken Loans for FHA loan violations

DOJ accuses lender of improperly originating and underwriting FHA mortgages
Trey Garrison and Ben Lane
The United States government is suing Quicken Loans, accusing the lender of improperly originating and underwriting loans that were insured by the Federal Housing Administration. According to an announcement from the Department of Justice, the government alleges that from September 2007 through December 2011, Quicken “knowingly submitted, or caused the submission of, claims for hundreds of improperly underwritten FHA-insured loans.”
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PulteGroup 1Q net income drops to $55 million

Sells fewer homes in Northeast
Brena Swanson
PulteGroup’s latest earnings surprisingly slid after home sales fell 28% in the pricey U.S. Northeast due to construction delays.
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New homes sales tumble 11.4% in March

Sales still significantly up from last year
Brena Swanson
Sales of new single-family homes in March 2015 tumbled back down after last month's positive news that the market was ready for this year's spring buying rush. However, looking at analyst comments, the news isn't as bad as it may appear.
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Feds bust massive mortgage fraud scheme

Leader sent to prison for almost 5 years, ordered to repay $2.5 million
Ben Lane
A former real estate agent will spend the next 57 months in prison after being convicted of conspiracy to commit wire fraud and aggravated identity theft, stemming from a massive residential mortgage fraud scheme that defrauded lenders, the Federal Housing Administration, Fannie Mae, and Freddie Mac of nearly $2.5 million.
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HUD returns control of Detroit Housing Commission

DHC was in federal receivership for nearly 10 years
Ben Lane
Citing "consistent accountability and progress," the U.S. Department of Housing and Urban Development is finally handing control of the Detroit Housing Commission back to local authorities, after nearly 10 years of federal control.
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Mr. Castro went to Washington…and it was pointless

Republicans batter HUD secretary with bluster but offer no solutions
Ben Lane
Maybe it was naïve of me, but I truly thought that a hearing titled, “The Future of Housing in America: Oversight of the Federal Housing Administration,” hosted by the House of Representatives Committee on Financial Services and featuring HUD Secretary Julián Castro would actually, you know, accomplish something…anything. But I was so incredibly wrong.
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Monday Morning Cup of Coffee: The 4 shifts needed to boost new home sales

Castro to face grilling by House committee; ABS Vegas preview
Ben Lane
What four things do builders and developers need to do to boost new home sales? What's expected at ABS Vegas this week? And what kind of reception will HUD Secretary Julián Castro receive from the House Financial Services Committee this week? Those answers and more contained herein.
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New FHA guidelines to delay reverse mortgage foreclosures

HECM spouses get to stay for longer
Ben Lane
The U.S. Department of Housing and Urban Development and the Federal Housing Administration announced changes to its reverse mortgage program designed to keep non-borrowing spouses during the foreclosure process.
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Moody’s: FHA premium cut will increase home sales by 45,000 this year

Provides a "meaningful boost" to housing economy
Ben Lane
According to the Moody’s report, the FHA premium cut will reach its maximum impact in mid-2016, when Moody’s Analytics’ model expects annualized home sales to increase by 100,000 as a result of the FHA cut, with 40,000 additional single-family housing starts in 2016 as well.
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WATCH: HUD Secretary Castro tells Daily Show FHA’s “trajectory” is strong

FHA’s reserve capital questioned by host Jon Stewart
Ben Lane
HUD Secretary Julián Castro continued his media tour Monday night, joining The Daily Show with Jon Stewart for a wide-ranging discussion touching on the recent announcement that FHA will cut its annual mortgage insurance premiums, whether the government has learned anything from the housing crisis and whether the FHA will need another bailout any time soon.
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