Items Tagged with 'HUD'


New home sales increase nearly 30% in September

Home supply gets slightly better
Home sales increased in September after dropping the month before. However, although many economists expected this increase, noting that it showed strength in the economy, not everyone agreed. One thing they did all agree on: there is still room for more growth.
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HUD watchdog: Servicer foreclosure delays cost FHA $2.23 billion

Report finds FHA overpaid servicers due to foreclosure, conveyance delays
A new report from a government watchdog shows that mortgage servicers’ delays in foreclosing on properties and subsequent delays in the conveyance of those properties to the Federal Housing Administration cost the FHA as much as $2.23 billion in unnecessary payouts.
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Former HUD Secretary: Affordable housing is too unsafe for the elderly

Exclusive interview series with affordable housing expert, part 2
In part 1 of our four-part interview series, Rick Lazio discussed the need for the candidates for president to begin discussing housing policy. Now, in part 2, former HUD Secretary Henry Cisneros argues that America is simply not doing enough to increase safe access to affordable housing. Here are his solutions.
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HUD awards $500 million to Louisiana, Texas, West Virginia flood areas

Castro provides funding through disaster recovery program
The U.S. Department of Housing and Urban Development extended funding to key areas where housing was most affected by natural disasters in 2016. As a result, Louisiana, Texas and West Virginia are set to receive $500 million. HUD’s secretary explains what he awarded each state, and why.
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BB&T to pay $83 million for FHA lending violations

Latest lender to be accused of violating False Claims Act by DOJ
BB&T will pay $83 million to settle allegations brought by the Department of Justice, which accused the lender of violating the False Claims Act by falsely certifying that it complied with “critical underwriting and quality control requirements” on mortgages insured by the Federal Housing Administration. BB&T becomes the latest in a long string of lenders targeted by the DOJ for False Claims Act violations.
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New home sales drop in August

Still up from last year
New home sales dropped in August after July witnessed its most significant increase since the housing crisis. Annually, however, new homes sales in August still increased. Industry experts talk about the report, and why it still shows positive signs for the housing market.
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Regions Bank next on DOJ hit list, will pay $52.4 million for FHA-lending violations

Becomes latest lender to be accused of violating False Claims Act
Over the last few years, the Department of Justice used the False Claims Act as its weapon of choice against the mortgage industry, using the law to extract settlements from lenders for supposedly misrepresenting the quality of loans to the Federal Housing Administration. And now, Regions Bank is the latest on the DOJ’s hit list, after agreeing to settle False Claims Act charges for $52.4 million.
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HUD: Children still overexposed to lead paint dangers

Here's what they want to do about it
The Department of Housing and Urban Development wants to protect more children living in federally assisted housing from lead paint exposure. To that end, HUD is proposing a new rule that would lower the acceptable threshold of lead exposure in a child’s blood to match the standard used by the Centers for Disease Control and Prevention.
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Fed strikes down San Fran affordable housing plan

Says it violates HUD regulations
At a time when California desperately needs affordable housing, city officials in San Francisco struggle to find a solution that will coincide with HUD’s standards. They recently passed affordable housing legislation, however federal housing authorities quickly struck it down.
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