Understanding Today’s Connected Borrower

Sign up for this webinar to learn how to transform the borrower journey from transaction to relationship and gain a significant lift in production in today’s digital lending environment.

RealTrending: eXp’s Glenn Sanford reveals what’s next for company

CEO of eXp World holdings addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

Mortgage servicers take steps to support borrowers amid COVID

Call volumes have spiked to a level not seen since last April, lenders and servicers need to prepare for a significant increase in their workload as they help borrowers through difficult times.

Real Estate

HUD awards record $28 billion to help states recover from major disasters

Funds given to nine states, Puerto Rico and Virgin Islands

The U.S. Department of Housing and Urban Development announced it is awarding a record $28 billion to help nine states, Puerto Rico and the U.S. Virgin Islands recover from major disasters.

Tuesday, HUD awarded $28 billion to support long-term disaster recovery. The funds are provided through the department’s Community Development Block Grant – Disaster Recovery Program.

HUD explained it will address seriously damaged housing, businesses and infrastructure from major disasters that occurred since 2015.

The amount represents the largest single amount of disaster recovery assistance in HUD’s history and includes more than $12 billion for major disasters that occurred in 2017 and nearly $16 billion to support mitigation activities in areas that experienced major presidentially declared disasters since 2015.

Mitigation can broadly be described as actions taken to protect communities from the predictable damage from future events.

“It’s clear that a number of states and local communities are still struggling to recover from a variety of natural disasters that occurred in the past three years,” HUD Secretary Ben Carson said. “These grants will help rebuild communities impacted by past disasters and will also protect them from major disasters in the future.”

The chart below shows how the funds will be distributed, by both location and by the year the disaster occurred.

Click to Enlarge

disaster funds

(Source: HUD)

Most Popular Articles

Millions will enter housing market in 2021: Zillow

Up to 2.5 million households could enter the housing market in 2021, per Zillow. The buyers will descend on the “secondary cities” across the U.S.

Apr 07, 2021 By

Latest Articles

Here are the top 15 mortgage lenders of 2020

HousingWire looks at who were the top 15 mortgage lenders in America by number of loans and dollar volume in 2020. We also look at purchase vs refi.

Apr 13, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please