LaRence Snowden is the board Chairman of the Houston Housing Authority. He has served on the board of commissioners at HHA since 2012. Snowden is also the assistant vice president of research for Texas Southern University.
Back in 2018, Hurricane Harvey swept through Houston, Texas and the surround areas, bringing disaster upon the residents. Now, new assessments show the city may need an additional $2 billion in funding.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.