Items Tagged with 'Department of Housing and Urban Development'

ARTICLES

  • Senate confirms HUD nominees for policy development, public housing

    Trump nominees Seth Appleton, Hunter Kurtz join the department
    The Senate confirmed two appointments to the Department of Housing and Urban Development Thursday, approving President Donald Trump’s nominations of Seth Appleton as assistant secretary of Policy Development and Research and Hunter Kurtz as assistant secretary of Public and Indian Housing.
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  • HUD declares FHA is no longer backing DACA mortgages

    "DACA recipients remain ineligible for FHA loans"
    After months and months of uncertainty about whether the FHA is backing mortgages for Deferred Action for Childhood Arrivals recipients or not, HUD has finally given an official answer. And that answer is no.
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  • HUD earmarks $43 million for housing counseling agencies

    Adds additional $2.5 million for counselor training
    The Department of Housing and Urban Development has set aside $43 million to fund grants for hundreds of housing counseling organizations. The grants will be used to help HUD-approved agencies counsel consumers on things like buying a first home, finding affordable rental housing, obtaining a reverse mortgage or avoiding foreclosure of eviction.
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  • Urban Institute to FHA: Fix your reverse mortgage servicing problems

    Stop transferring servicing rights, it’s costing millions
    Policymakers have long struggled with how to fix the FHA's reverse mortgage program to prevent it from draining the agency's mortgage insurance fund. But researchers are the Urban Institute have an idea: Fix the program's servicing problems, which they call "one of the biggest drivers of losses in the HECM program." Here's what they suggest.
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  • Sales of new homes drop 6.9% in April from March's 11-year high

    The level remains 7% higher than a year ago
    Sales of new houses dropped in April from an 11-year high in March, according to a report from the Census Bureau and the Department of Housing and Urban Development. New-house sales fell 6.9% to a 673,000 annualized pace last month from March’s upwardly revised rate of 723,000. Even with the decline, April’s level sits 7% higher than a year ago.
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  • HUD Secretary Ben Carson apparently doesn't know what an REO is

    Under questioning from Rep. Katie Porter, Carson confuses REO with Oreo
    HUD Secretary Ben Carson had a bit of a rough day on Tuesday. Carson appeared on Capitol Hill to testify before the House Financial Services Committee, and during questioning from the committee member with the most housing knowledge, turned himself into a punchline by confusing a common housing industry term with a cookie. Yes, you read that right.
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  • Government watchdog: Ben Carson's office décor spending spree violated law

    Finds Carson in the wrong for far exceeding spending limit without notifying Congress
    When Ben Carson assumed his role as HUD secretary, he and his wife Candy set out to bring the office up to standards, shelling out some serious cash – including $31,000 for a dining set – to make that happen. Carson shrugged off the expense as standard for any incoming secretary, but the Government Accountability Office says not so much.
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  • HUD plan to end public housing aid for undocumented immigrants could lead to evictions of 55,000 children

    Move could also lead to decrease in available public housing
    Approximately 55,000 children could be evicted from public housing if the Department of Housing and Urban Development goes through with a proposed plan to end public housing aid for undocumented immigrants, HUD revealed in a report on the rule change’s potential impact.
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  • VA lenders subpoenaed as investigators explore whether veterans are being overcharged for their mortgages

    Authorities look into allegations that military veterans are being aggressively pursued for refis
    At least eight lenders that issue VA loans have been hit with federal subpoenas, Politico reported Tuesday. The move commences an investigation by the Department of Veterans Affairs Office of Inspector General and the U.S. attorney in the Eastern District of New York into whether lenders are overcharging military veterans for mortgage loans – a charge that’s been hovering over the industry for nearly two years.
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