Items Tagged with 'HUD'

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From HW Magazine

Former HUD secretaries: America's elderly desperately need more affordable housing

Here's the solution
States and local communities must also embrace permissive land-use policies that encourage alternative housing structures for seniors, such as accessory dwelling units, micro-units, and congregate homes. These policies can be a win-win for everyone — preserving the integrity of neighborhoods while expanding affordable housing options.
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FHA announces sweeping changes to non-performing loan sales program

Buyers must now offer principal reduction, "payment shock protection"
Amidst mounting public pressure to do more to keep struggling homeowners in their homes, the Department of Housing and Urban Development and the Federal Housing Administration announced a series of extensive changes to its non-performing loan sale program. Here are all the details.
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HUD watchdog warns of scammers offering phony housing grants

Scheme offers HUD grant money in exchange for upfront fee
The Department of Housing and Urban Development's watchdog is warning consumers to be on the lookout for a scam that promises HUD grant money in exchange for an upfront fee. In each case, the “HUD representative” asks the consumers for an upfront fee in order to process and secure a “HUD grant” for tens of thousands of dollars, but there is no grant money to be had.
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Obama Administration selects final Promise Zone communities

Brings economic growth to areas in distress
More than two years after announcing the first round of Promise Zones, high-poverty areas of a city that will receive economic help, the Obama administration announced its last round of communities. Find out where they are located, how they were chosen and what this will mean for the future.
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Urban Institute: Selling NPLs to investors is working

Four ways to improve sales
Researchers from the Urban Institute are already on the record with their view that more pools of non-performing loans need to be sold to private investors, but a new article posted on the Urban Institute's Urban Wire blog on Housing and Housing Finance suggests that more steps need to be taken to ensure a mutually beneficial result for all parties involved in a non-performing loan sale.
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New home sales reverse course, rise in April

Moves higher for spring-buying season
The latest April new home sales report shows signs that the housing market could finally be returning to normal after a series of up and down reports. One chief economist noted that so far in 2016, new home sales have declined each month. However, sales are now up a whopping 24% from last April.
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Guild Mortgage becomes DOJ's latest target over alleged FHA-lending violations

Lender says it plans to fight back against allegations of False Claims Act violations
Over the last several years, lenders like Wells Fargo, Franklin American Mortgage, Walter Investment, First Tennessee Bank, Freedom Mortgage and M&T Bank chose to settle with the Department of Justice after being accused of originating and underwriting mortgage loans that did not meet Federal Housing Administration standards. Now, Guild Mortgage is next on the DOJ’s hit list, but the lender says it plans to fight back.
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