The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

How demographics shaped the housing market in 2021

The U.S. housing market entered a period of the best housing demographics ever recorded in history the same year that COVID grabbed hold of us.

@properties CEOs talk company growth and franchising

In this episode of HousingWire Daily, Mike Golden and Thad Wong from @properties discuss the future for the company including its nationwide franchising plans as it expands.

Keep Up With the Latest Third Party Origination News

Want to stay up to date with the latest on the third party origination front? We designed a specific news hub with lenders and brokers in mind, with Rocket Pro TPO leading the discussion.

Black HomeownershipPolitics & Money

Frozen out, career HUD official sounds the alarm

Career official wrote of serious concerns about the FHA's pandemic strategy

HW+ Washington D.C_

In February, a top career official at the U.S. Department of Housing and Urban Development fired off a troubling letter to the Biden administration. 

The official, a 23-year veteran of the agency, wrote that he had serious concerns about the Federal Housing Agency’s pandemic response, the timing and effectiveness of a massive IT modernization effort ahead of the 2020 election, and a tidal wave of defaults and foreclosures the federal government wasn’t prepared to handle. Those liabilities alone totaled $155 billion, the official, Vance Morris, warned in the letter.

Critically, the Biden administration was flying blind because they’d iced Morris out of the transition from the Trump administration, he wrote in the letter, which was not made public.

HousingWire spoke to half a dozen housing policy experts and former HUD officials to assess the risk to taxpayers described by the official in the letter; whether the software update was politically tainted; and ultimately why Morris, the associate general deputy assistant secretary at HUD, was sidelined by the Biden administration.

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    Most Popular Articles

    Treasury removes restrictions on investment properties

    The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac.

    Sep 14, 2021 By
    3d rendering of a row of luxury townhouses along a street

    Log In

    Forgot Password?

    Don't have an account? Please