Items Tagged with 'HUD'

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FHA to begin insuring mortgages with PACE loans

No super priority loans allowed
The Federal Housing Administration 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, the Department of Housing and Urban Development announced Tuesday. Here are all the details.
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HUD Secretary Castro broke election law with Clinton endorsement

Investigation finds Castro violated Hatch Act in interview with Katie Couric
Department of Housing and Urban Development Secretary Julián Castro, rumored to be on former Secretary of State Hillary Clinton's shortlist for vice president, violated federal election law when discussing and endorsing Clinton during an April interview with Yahoo News. Here's the full story.
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Study: Recent changes to reverse mortgage rules cut default risk in half

New report from Center for Retirement Research at Boston College lauds HECM program
A new study from the Center for Retirement Research at Boston College states that recent changes made to the rules governing reverse mortgages, specifically those that are part of the government's Home Equity Conversion Mortgages program, will dramatically cut the risk of default for borrowers.
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Here's why the FHA's changes to non-performing loan sales are a universal win-win

Boston Community Capital CEO Elyse Cherry on why changes could alter industry
Recently, HUD announced important, valuable, and substantive changes to its Distressed Asset Stabilization Program, under which the FHA sells off deeply delinquent loans to private investors. The reforms will benefit homeowners, entire neighborhoods, and our economy as a whole – and have the potential to transform the way the private sector approaches the housing market. Here's why.
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Florida senators want "slumlords" held accountable for public housing conditions

Sens. Marco Rubio and Bill Nelson introduce bill to change HUD rules
Florida's senators are deeply concerned about the living conditions for some of the state's residents who live in federally subsidized housing and they want the government to do more to hold the properties' owners accountable. The senators say the move is in response to the "deplorable" living conditions discovered in several federally subsidized housing developments in Florida.
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Republicans demand answers from HUD's Castro on FHA non-performing loan sales

Hensarling calls for Castro to appear before House Financial Services Committee
Last week, HUD and the FHA announced the "most significant improvements to date" to its non-performing loan sales program. But House Financial Services Committee Chairman Jeb Hensarling, R-TX, is less than impressed with those changes, going so far as to question HUD, the FHA, and HUD Secretary Julián Castro's motivations for making the changes.
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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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