Monday Morning Cup of Coffee: Judge deals major blow to investors in GSE lawsuit

Monday Morning Cup of Coffee: Judge deals major blow to investors in GSE lawsuit

Fed mortgage stability monitoring nothing more than a myth?

This chart proves mortgage credit availability isn’t improving

Isn't get worse, either

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California takes over one list
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Items Tagged with 'Department of Housing and Urban Development'

ARTICLES

Obama administration making more big promises on housing

More plans coming to fix struggling communities
Trey Garrison
U.S. Department of Housing and Urban Development Secretary Julián Castro will join Department of Agriculture Secretary Tom Vilsack, Department of Transportation Secretary Anthony Foxx, Senator Bob Casey of Pennsylvania and Congressman Gary Peters of Michigan for a press call Friday at 11 a.m. ET to discuss the next round of Promise Zone applications.
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HUD fines FirstBank Mortgage Partners for maternity-related discrimination

Couple denied mortgage because of maternity leave
Ben Lane
According to the original complaint filed against FirstBank, a married couple alleged that FirstBank approved their mortgage application and scheduled its closing, but upon learning that the wife was on maternity leave, the lender reversed field and denied the mortgage loan. The couple was notified of the loan denial within 24 hours of the scheduled closing.
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HUD selling $2.3 billion non-performing loans

Sixth sale since September 2012
Ben Lane
According to DebtX, the loans will be sold in eight national pools, with the pools ranging in size from $94.5 million to $804.5 million.
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HUD fines Freedom Mortgage over discrimination claims

Lender forced disabled applicants to provide proof of disability income
Ben Lane
In one case, a loan applicant provided medical documentation of his disability, a Department of Labor Work Capacity Evaluation form, and a benefits statement showing regular disability payments since 2009. Nonetheless, Freedom Mortgage allegedly continued to request proof that the income would continue for at least three years.
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Fifth Third Mortgage pays $1.5M to settle discrimination claims

Accused of violating Fair Housing Act, Equal Credit Opportunity Act
Brena Swanson
The Department of Justice reached a settlement with Fifth Third Mortgage Company to resolve allegations that it engaged in a pattern or practice of discrimination on the basis of disability and receipt of public assistance in violation of the Fair Housing Act and the Equal Credit Opportunity Act.
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Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan
Ben Lane
"Julián has lived the American Dream in his own life, and I’m confident he will help Americans across our country seize their own piece of that dream for themselves and their children," President Barack Obama said when Castro was confirmed by the Senate earlier this month.
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Cyprexx: Discrimination charges “frivolous”

Fannie Mae contractor responds to charges from National Fair Housing Alliance
Ben Lane
"Cyprexx only learned about the allegations from the media and had to go to the NHFA’s website to obtain a copy of complaint," Cyprexx said in a statement. "One cannot help questioning whether this is a part of a publicity stunt rather than a good faith effort to determine if there is any basis for its charges."
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Fannie Mae contractor Cyprexx accused of racial discrimination

Homes in African American, Latino neighborhoods were treated “very poorly”
Ben Lane
"Cyprexx is required by federal law to maintain foreclosures without regard to the racial makeup of the neighborhood, but the evidence we uncovered flies in the face of that obligation," said Shanna Smith, CEO of the National Fair Housing Alliance. A Cyprexx source said the company was not made aware of any complaints and the NFHA, to his knowledge, never reached out.
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HUD Secretary Shaun Donovan confirmed as director of OMB

Clears way for Julián Castro as new head of HUD
Ben Lane
"I am pleased that Republicans and Democrats in the Senate today confirmed Shaun Donovan as the next Director of the Office of Management and Budget," President Obama said. Now, Donovan's exit clears the way for San Antonio Mayor Julián Castro to lead HUD.
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Castro’s confirmation as HUD Secretary met with industry approval

President Obama, others praise San Antonio mayor
Ben Lane
"I applaud the bipartisan majority of Senators who today confirmed Julián Castro as our next Secretary of Housing and Urban Development," President Obama said. "Julián is a proven leader, a champion for safe, affordable housing and strong, sustainable neighborhoods."
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