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.

Inside Look: RealTrends 2021 Brokerage Compensation Study

Steve Murray, senior advisor to RealTrends, gives an exclusive first look at the 2021 RealTrends Brokerage Compensation Report.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

How lenders can prepare for increasing regulatory pressures

As compliance becomes an increased focal point for mortgage lenders and investors, staying ahead of state and federal regulations can be the difference between a flourishing business and one mired in fines.

Real EstatePolitics & Money

Marcia Fudge vows to end discrimination as HUD secretary

In nomination hearing, Ohio Congresswoman says agency needs to enforce fair housing rules

Marcia Fudge, President Joe Biden’s nominee for secretary of Housing and Urban Development, on Thursday vowed to end discrimination in housing should her nomination be approved by the U.S. Senate.

During her testimony to the Senate Committee on Banking, Housing and Urban Affairs on Thursday, Fudge said part of her priorities for HUD, “will require us to end discriminatory practices in the housing market, and ensure that our fair housing rules are doing what they are supposed to do: opening the door for families, especially families of color who have been systematically kept out in the cold across generations, to buy homes and punch their ticket to the middle class.”

She spoke of making sure the playing field is leveled and righting past wrongs, rather than simply ensuring everyone is treated the same way when it comes to homeownership opportunities.

Days after taking office, Biden signed several new executive orders that address racial equity, including a memorandum that directs HUD to both mitigate racial bias in housing and advance fair housing laws.

In a memorandum, Biden called on HUD to examine changes the Trump administration made last year to several rules, including “Preserving Community and Neighborhood Choice” and “HUD’s Implementation of the Fair Housing Act’s Disparate Impact Standard.” The agency will examine whether the Trump administration’s rules harmed access to fair housing.

If confirmed, Fudge would be the first Black woman to serve as HUD secretary in more than 40 years. Fudge’s previous work with the housing industry includes introducing legislation to help states and cities enact a speedier, more efficient process for abolishing vacant and abandoned properties.

Fudge received pushback from Republican Senators for some of her previous comments where she said, “Republicans don’t care about people of color, even a little bit. But if they do, I am willing to listen.”

However, Fudge, a U.S. Representative from Ohio, said her track record is one of bipartisanship and that she is committed to working across the aisle in her new role.

“I have the ability and the capacity to work with Republicans and I am committed to doing just that.”

The housing industry expressed its support of Fudge’s nomination, writing to the Senate Banking Committee in support of approving her.

“On behalf of the Mortgage Bankers Association, I write to support the nomination of the Honorable Marcia Fudge to serve as the next Secretary of the Department of Housing and Urban Development,” MBA President and CEO Robert Broeksmit wrote. “Since holding her first elected position as the mayor of Warrensville Heights, Ohio, and throughout her representation of Ohio’s 11th congressional district, Congresswoman Fudge has consistently supported the development of affordable housing. This experience will serve her well as HUD’s highest ranking official…I respectfully urge this committee and, in turn, the full Senate to approve Congresswoman Fudge’s nomination as swiftly as possible.”

Comments

  1. She should see the comments left by your readers about how you pick and choose loans in a busy time. That should help her get a fresh look at who is left behind.

Load More Comments

Leave a comment

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

Latest Articles

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

The United States is grappling with a sharp rise in natural disasters, including wildfires, an active hurricane season, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Sep 17, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please