This is why Fannie and Freddie mortgage initiatives won't work

This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
W S

Items Tagged with 'HUD'

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.
Read More

HUD’s Castro and Sen. Heitkamp visit Indian Country

Survey unique housing needs on Indian reservations
Trey Garrison
HUD Secretary Julián Castro and U.S. Senator Heidi Heitkamp visited Belcourt to view housing challenges with black mold and overcrowding on the Turtle Mountain reservation, and toured Williston to examine the city’s rapidly expanding housing and infrastructure developments.
Read More

MBA leaders challenge federal regulators to take action

MBA: It's time for the penalty phase to end
Sarah Wheeler
"Today's lenders are paying many times over for mistakes that may have been out of their control," Bill Cosgrove, MBA chairman, said Monday at the MBA Convention in Las Vegas. "And it's the consumer who pays the ultimate price. It's time for the penalty phase to end."
Read More

American Housing Survey finds 1 in 3 homes is a rental

Majority of Americans get along with their next-door neighbors
Trey Garrison
One in every three single-family homes is a rental, lots are shrinking, and one in 10 homes has had a mice or cockroach problem. Homes have fewer physical problems than two years ago. Welcome to American housing.
Read More

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.”
Read More

Community Home Lenders Association renews call for FHA premium cut

Cite declining FHA loan volume, low default rates
Trey Garrison
The Community Home Lenders Association has renewed its call for the Federal Housing Administration to lower the annual premium it charges, in order to make FHA loans more affordable for lower- and middle-income borrowers.
Read More

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.
Read More

Wells Fargo reaches $5M settlement over maternity discrimination

HUD fines lenders guilty of violating Fair Housing Act
Brena Swanson
In its latest settlement over violation of the Fair Housing Act, the U.S. Department of Housing and Urban Development reached a $5 million settlement with Wells Fargo Home Mortgage, resolving allegations that the lender discriminated against women who were pregnant.
Read More

HUD OIG: 86% of reviewed HECM borrowers out of compliance

Using mortgage assistance and rental vouchers at the same time
Brena Swanson
Borrowers who use the U.S. Department of Housing and Urban Development’s Home Equity Conversion Mortgage program are slipping through the cracks and not in compliance with residency requirements.
Read More

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.
Read More