Items Tagged with 'Department of Housing and Urban Development'

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Former HUD senior advisor Richard Green: Here are the issues with Trump's budget

Ginnie Mae staffing levels and FHA infrastructure will both suffer

Late last week, Julián Castro, who served as secretary of the Department of Housing and Urban Development from 2014 to 2017 under former President Barack Obama, told HousingWire that he has several issues with President Donald Trump’s budget proposal, which calls for a $6.2 billion cut to HUD’s budget. But Castro isn’t the only former HUD official to express concerns with Trump’s budget.


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Monday Morning Cup of Coffee: Trump tapping familiar face to lead DOJ's civil division?

What will become of False Claims Act charges under new leader?
It looks like President Donald Trump is about to install a familiar face as the leader of the Department of Justice’s civil division. If that happens, what happens to the DOJ's recently preferred tactic of using the False Claims Act to extract settlements from lenders for supposedly misrepresenting the quality of loans to the Federal Housing Administration? The answer, and more, in your Monday Morning Cup of Coffee.
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Here's what Ben Carson thinks about the proposed $6.2 billion HUD budget cut

HUD Secretary issues brief statement about budget proposal
In a move first hinted at over a week ago, President Donald Trump released his budget proposal on Thursday, complete with a proposed $6.2 billion cut to the funding for the Department of Housing and Urban Development. So, what does HUD Secretary Ben Carson think of the cuts to HUD’s budget? For one, he’s in favor of them.
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Urban Institute: HUD watchdog is wrong on borrower-financed down payment programs

Says HUD-OIG misunderstands, overstates issue
A recent report from HUD's watchdog said that HUD does not have sufficient oversight of borrower-financed down payment assistance programs for FHA-insured loans, which puts borrowers and the FHA’s flagship insurance fund at “unnecessary risk.” Analysts from the Urban Institute reviewed the report as well, and came to a different conclusion: HUD’s watchdog is wrong to call out the down payment assistance programs.
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Atlanta Fed selects former HUD assistant secretary Raphael Bostic as new president

Served as HUD assistant secretary for policy development and research
The Federal Reserve Bank of Atlanta announced Monday it selected Raphael Bostic to serve as its new president and chief executive officer. Bostic brings significant housing experience to this position. From 2009 to 2012, Bostic served as assistant secretary for policy development and research at the Department of Housing and Urban Development.
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HUD sanctions Illinois' Alpine Bank & Trust over fair lending violations

Accused of discriminatory lending against minorities

The Department of Housing and Urban Development announced Friday that Alpine Bank & Trust is being sanctioned over fair lending violations. The charges stemmed from a complaint filed by the HOPE Fair Housing Center of Wheaton, Illinois, which filed a complaint with HUD claiming that the lender’s business service areas excluded majority African-American and Hispanic neighborhoods.


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Watchdog: HUD lacks sufficient oversight for borrower-financed down payment programs

Report finds HUD “failed to adequately oversee” more than $16 billion in FHA loans
The Department of Housing and Urban Development’s lack of oversight into borrower-financed down payment assistance programs for Federal Housing Administration-insured loans puts borrowers and the FHA’s flagship insurance fund at “unnecessary risk,” HUD’s watchdog said in a new report.
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Monday Morning Cup of Coffee: Trump budget threatens housing?

Is the Fed ready for a March rate hike?
Priorities during this administration could create problems for the Department of Housing and Urban Development’s assistance programs as more focus is placed on military spending and less on housing. And the market is expecting the Fed to raise rates in March, however a week and a half still remain before the FOMC meeting, during which time anything could happen.
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Ben Carson sworn in, spends first day as HUD Secretary

Will lead agency with 8,000 employees, $40 billion annual budget
After being confirmed by a 58-41 vote in the Senate, Ben Carson officially became the 17th secretary of the Department of Housing and Urban Development on Thursday evening when he was sworn in by Vice President Mike Pence. Here's a look at how Carson spent his first day at HUD.
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WATCH: Dave Stevens gives MBA’s top priorities to new HUD secretary

Top 3 issues MBA is leading a charge on
The Mortgage Bankers Association explained its top priorities now that the Senate confirmed the 17th HUD Secretary Ben Carson. MBA CEO Dave Stevens explained the MBA’s agenda with both Carson and other recent nominees to the president’s cabinet, including working with Treasury Secretary Steven Mnuchin on the conservatorship of the GSEs.
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