Items Tagged with 'HUD'

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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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Housing industry's biggest trade groups push FHA to reconsider PACE rules

Concerned about energy improvement loans being given super priority status
Last month, the Department of Housing and Urban Development and the Federal Housing Administration announced that the FHA will soon begin insuring mortgages that also carry liens created by energy retrofit programs, as long as the energy lien remains subordinate to the mortgage. But the fine print of the new rules has the housing industry's largest trade groups concerned.
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HUD program offers investors a discount on default properties

Investment strategy should include claims without conveyance of title program
Because many servicers and investors are new to the CWCOT program, Chronos Solutions offers high-touch service that walks them through the whole auction process. Whether the property is being sold through a live auction at the courthouse or through an online auction process, Chronos maintains close contact with the bidders through RealtyBid.
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Obama administration presents a look at life after HAMP

Feds provide a preview of what's next
Time is ticking on the government's Home Affordable Modification Program and Home Affordable Refinance Program, as both will end on Dec. 31, 2016. In a comprehensive report published Monday, the Treasury, HUD, and the FHFA say that while these programs are set to end this year, the government plans to continue working with the mortgage industry on various loss mitigation programs moving forward, but caution that the industry needs to be prepared to do more.
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Monday Morning Cup of Coffee: Is housing talk finally coming to the 2016 election?

A full rundown of all things housing in the race for the White House
Well, we're smack dab in the middle of election season now, and housing is thus far, decidedly not on the agenda. But is that all about to change? While Republican nominee Donald Trump didn't touch on housing in his acceptance speech last week, the Republican Party platform does call for significant changes to the country's housing finance system. As for the Democrats, the party made two big moves over the weekend that could bring housing into the conversation.
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