PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

Former LandCastle Title CEO was Johnson's attorney and "trusted advisor"

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time
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Items Tagged with 'Department of Housing and Urban Development'

ARTICLES

HUD fines Cincinnati landlord for failure to disclose lead paint

Meyer Management fined, ordered to conduct lead abatement
Ben Lane
According to the federal government, Meyer Management violated the Federal Residential Lead-Based Paint Hazard Reduction Act by failing to inform tenants that their homes may contain “potentially dangerous” levels of lead.
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It's official: Risk retention rule approved

Federal Reserve gives last and final approval
Brena Swanson
The final version of the risk retention rule is now officially approved by six federal agencies, following the Federal Reserve’s final approval on Wednesday. The rule contains an exemption for Qualified Mortgages similar to when the rule was proposed in 2013.
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HUD grants $38.3 million to fight housing discrimination

Funding provided to more than 100 organizations in 43 states
Ben Lane
“Ending housing discrimination is at the core of HUD’s mission and it takes dedicated people on the ground to address it,” said HUD Secretary Julián Castro. “These funds support community-based organizations that do great work every day on the front lines in the fight for fairness and equality in our nation’s housing market.”
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Looming layoffs at Bank of America signal shift in mortgage servicing

Impact already being felt throughout industry
Ben Lane
The impact of Bank of America's $16.65 billion settlement is beginning to be seen in the mortgage industry. The settlement will affect more than just the bank, the aggrieved homeowners and the government. It isn’t just the big banks that feel the pain of these settlements. It affects everyone.
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HUD watchdog accuses EverBank of violating FHA short sale policies

Recommends bank should repay $1.57 million to HUD
Ben Lane
According to the report from the HUD-OIG, EverBank improperly determined whether borrowers were eligible to participate in the FHA’s preforeclosure sale program and as a result of those failings, the FHA insurance fund paid approximately $1.57 million in improper claims.
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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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