Items Tagged with 'Carol Galante'

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How state and local governments are constructing a solution for affordable housing

Covering the gap left by federal programs
According to Harvard University’s Joint Center for Housing Studies, the supply gap in 2015 was 400,000 units. Of course, that leads to price inflation on rental rates for existing units as well as driving developers to build. But today’s construction isn’t necessarily providing for all of tomorrow’s renters.
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Former FHA Commissioner Carol Galante joining Ocwen's board of directors

Company also elevates Phyllis Caldwell to chair of board
Ocwen Financial is about to add a big name to its board of directors, as the nonbank announced Friday that Carol Galante, the former commissioner of the Federal Housing Administration, is set to join the company’s board. Ocwen also announced that it is elevating Phyllis Caldwell from her current role as an independent director to serve as chair of the company’s board of directors.
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FHA Commissioner Carol Galante to step down

Industry applauds her positive impact on housing
After years of helping the economy recover from the financial crisis through her role as commissioner at the Federal Housing Administration, Galante announced her decision to leave the U.S. Department of Housing and Urban Development. She will return to California to start teaching at the University of California, Berkeley in January.
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FHA announces plan to expand credit access

Plan offers MI discounts for borrowers, provides clarity on FHA policies
The Federal Housing Administration has released its “Blueprint for Access” which outlines the additional steps the agency is taking to expand credit access for “underserved borrowers.”
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FHA to Realtors (and everyone else): We’re not lowering rates

But acknowledged that rates may have reached a “tipping point” that could drive buyers away
"Now is not the time to roll those premiums back," Federal Housing Administration Commissioner Carol Galante said. "Right now we are priced appropriately and are reaching out to creditworthy individuals.”
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CBO: FHA reform bill could save government $514M

Insurance premiums would rise to meet capital requirements
The Senate proposed FHA Solvency Act could reduce federal discretionary spending by $514 million over a four-year period of time while forcing the FHA to build up to a 3% capital ratio, the Congressional Budget Office said.
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FHA needs $1.7B bailout

Decline in FHA endorsement volume leads to shortfall
The Federal Housing Adminstration will require a $1.7 billion bailout from the Treasury to cover projected losses in mortgage-related programs, officials told Congress in a letter Friday.
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