Bank of America reportedly reaches $17 billion RMBS settlement

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?
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Items Tagged with 'HUD'

ARTICLES

Multifamily housing starts soar while single-family permits remain flat

Starts and permits up but gains driven more by apartments, not homes
Trey Garrison
After plunging in June, housing starts and housing permits recovered in July, printing at 1,093,000 and 1,052,000, respectively. The bad news is that almost all of those gains from June to July are in multifamily rental housing.
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HUD starts housing hiring spree

Department plans to add 1,000 positions
Brena Swanson
The U.S. Department of Housing and Urban Development plans to add 1,000 positions across the country, adding to its current number of 8,000 federal employees. The department has not hired since sequestration began in March 2013.
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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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Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan
Ben Lane
"Julián has lived the American Dream in his own life, and I’m confident he will help Americans across our country seize their own piece of that dream for themselves and their children," President Barack Obama said when Castro was confirmed by the Senate earlier this month.
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Cyprexx: Discrimination charges “frivolous”

Fannie Mae contractor responds to charges from National Fair Housing Alliance
Ben Lane
"Cyprexx only learned about the allegations from the media and had to go to the NHFA’s website to obtain a copy of complaint," Cyprexx said in a statement. "One cannot help questioning whether this is a part of a publicity stunt rather than a good faith effort to determine if there is any basis for its charges."
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HUD audits BB&T over government-backed loans

Bank sets aside reserves of $53 million
Brena Swanson
BB&T is under the scrutiny of the U.S. Department of Housing and Urban Development while the housing authority looks into the bank's sales of government-backed loans.
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Monday Morning Cup of Coffee: Former CFPB head eyes White House?

The bubble’s last days; New HUD rule the “Common Core” of housing
Trey Garrison
Four housing charts to ruin your Monday (take the red pill), the housing recovery is coming to an end, and a little-known proposed HUD rule that could lead to the federalization of local housing and zoning decisions are all mixed into your spicy, bold morning brew.
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HUD Secretary Shaun Donovan confirmed as director of OMB

Clears way for Julián Castro as new head of HUD
Ben Lane
"I am pleased that Republicans and Democrats in the Senate today confirmed Shaun Donovan as the next Director of the Office of Management and Budget," President Obama said. Now, Donovan's exit clears the way for San Antonio Mayor Julián Castro to lead HUD.
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Castro’s confirmation as HUD Secretary met with industry approval

President Obama, others praise San Antonio mayor
Ben Lane
"I applaud the bipartisan majority of Senators who today confirmed Julián Castro as our next Secretary of Housing and Urban Development," President Obama said. "Julián is a proven leader, a champion for safe, affordable housing and strong, sustainable neighborhoods."
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Senate confirms Julián Castro as HUD Secretary

Senate votes 71-26 to approve Obama’s nominee
Ben Lane
Of note in the “no” votes was Senator Mike Crapo, R-Idaho, who co-authored the Johnson-Crapo housing finance reform legislation with Senator Tim Johnson, D-S.D., that is currently under consideration on the Senate floor.
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