RealtyTrac: All-cash sales at lowest since late 2009

RealtyTrac: All-cash sales at lowest since late 2009

Institutional investor share at 15-year low

3 tips to recruiting Millennial loan officers

How to reverse the aging mortgage industry

Fannie, Freddie CEOs get a well-deserved huge boost in pay

It's about time
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Items Tagged with 'Department of Housing and Urban Development'

ARTICLES

U.S. Conference of Mayors: Don’t sell non-performing loans to Wall Street

Mayors tell HUD, Fannie and Freddie to sell to non-profits instead
Ben Lane
The U.S. Conference of Mayors is joining a growing chorus calling on the U.S. Department of Housing and Urban Development, Fannie Mae and Freddie Mac to stop selling pools of non-performing loans to “Wall Street speculators,” and requesting that the pools be sold instead to non-profits interested in keeping homeowners in their homes.
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HUD senior official leaving to join Hillary Clinton campaign?

Betsaida Alcantara to serve as Clinton’s director of media planning
Ben Lane
HUD Secretary Julián Castro said Monday that Betsaida Alcantara, HUD’s assistant secretary for public affairs and one of Castro’s senior advisors, is set to leave her position at the end of July. Castro did not disclose Alcantara’s next move, but a Buzzfeed report said that Alcantara is leaving HUD to serve as the director of media planning for Clinton’s campaign.
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FHA issues new reverse mortgage rules to protect spouses

Designed to allow non-borrowing partners to remain in home
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 in their homes after the last surviving borrower dies.
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Quicken Loans CEO: The FHA has been hijacked by the Department of Justice

Bill Emerson tells HousingWire why Quicken is fighting back
Ben Lane
Much of the industry scuttlebutt of late has been focused on Quicken Loans with its decision to sue the Department of Justice and the Department of Housing and Urban Development. In an exclusive interview with HousingWire, Quicken Loans’ CEO Bill Emerson said that the lender is not going to give in to the government’s pressure and tells us what's really going on.
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First Tennessee Bank to pay $212.5 million for faulty FHA underwriting

Settlement with DOJ stems from False Claims Act violations
Ben Lane
First Tennessee Bank, the regional bank for First Horizon National, will pay $212.5 million to resolve allegations that it violated the False Claims Act by “knowingly originating and underwriting mortgage loans insured by the Federal Housing Administration that did not meet applicable requirements,” the Department of Justice announced Monday.
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HUD selects Richard Green as senior advisor for housing finance

Currently serving as director of USC Lusk Center for Real Estate
Ben Lane
The U.S. Department of Housing and Urban Development appears to have found a replacement for former HUD Senior Advisor Edward Golding, who recently took over as head of the Federal Housing Administration. Richard Green, who currently serves as the director of the University of Southern California Lusk Center for Real Estate, will take over for Golding as HUD senior advisor on July 1.
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Quicken Loans wins first round in court battle versus DOJ, HUD

Judge rules Quicken's suit against Feds will be heard first
Ben Lane
Quicken Loans secured the first victory in its gutsy battle against the U.S. Department of Justice and the Department of Housing and Urban Development. A federal judge ruled that Quicken’s lawsuit against the government will be heard, before the government’s case against Quicken is heard in a separate court, which favors the massive mortgage lender. Click the headline for HousingWire's extensive coverage.
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HUD: Associated Bank ‘redlining’ settlement largest ever

HUD Secretary Castro says settlement “sends a strong message”
Ben Lane
According to HUD’s statement, the original complaint against Associated Bank was one of the largest “redlining” complaints brought by the federal government against a mortgage lender, and the $200 million settlement with Associated Bank is the largest of its kind that HUD has ever reached.
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Fannie Mae accused of widespread racial discrimination

Housing groups say GSE neglects foreclosures in minority neighborhoods
Ben Lane
The National Fair Housing Alliance and 19 local fair housing organizations are accusing Fannie Mae of widespread racial discrimination, claiming that the GSE maintains and markets its foreclosures in white neighborhoods “consistently better” than in middle- and working-class African American and Latino neighborhoods. Fannie Mae says the charges are without merit.
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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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