Items Tagged with 'Department of Housing and Urban Development'

ARTICLES

  • Dreamers denied: Evidence mounts FHA is not backing DACA mortgages

    Lenders back down as government actions disrupt home loans
    Despite HUD stating recently that its policies have not changed in regards to the FHA backing mortgages for Deferred Action for Childhood Arrivals recipients, it appears that the opposite is actually the case. Or at least that’s how the mortgage lending industry is reacting. A new HousingWire investigation has uncovered lender bulletins or guidelines from a dozen different lenders each stating that Dreamers are not eligible for FHA financing.
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  • New home sales fall further than anticipated to 6.9%

    Sales fall 4.1% below 2018 levels
    New home sales cooled off in January, according to the latest report from the Census Bureau and the Department of Housing and Urban Development. However, Navy Federal Credit Union Corporate Economist Robert Frick said with mortgage rates retreating, prices moderating and some improvement in supply on the way, 2019 may develop into a much better home hunting ground.
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  • Confusion reigns over whether government is backing mortgages for DACA Dreamers

    HUD claims nothing has changed, lenders are hearing differently
    The Department of Housing and Urban Development, Federal Housing Administration, and Department of Agriculture told HousingWire recently that their policies have not changed in regard to mortgages to Deferred Action for Childhood Arrivals recipients. But multiple lenders and mortgage industry participants tell HousingWire that HUD seems to be saying one thing and doing another.
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  • HUD to lenders: We are not denying mortgages to DACA Dreamers

    The status quo remains, for now
    The Department of Housing and Urban Development, Federal Housing Administration, Department of Agriculture, and Fannie Mae are not denying mortgages to Deferred Action for Childhood Arrivals recipients, the agencies told HousingWire this week. That’s in spite of what some in the mortgage industry are claiming the agencies are saying about lending to DACA recipients, also called Dreamers.
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  • New home sales rise 3.7% in December, signaling promising spring home buying season

    But level still remains 2.4% below 2017 levels
    New home sales rose 3.7% in December 2018, according to the latest report from the Census Bureau and the Department of Housing and Urban Development. Realtor.com Chief Economist Danielle Hale said some housing indicators, such as mortgage applications and pending home sales, are starting to show signs of life, suggesting that some thawing could be ahead as we approach spring home buying season.
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  • HUD Secretary Ben Carson says he'll leave office after first term

    Reveals plans to move on to the private sector
    HUD Secretary Ben Carson revealed he intends to leave his post at the end of President Donald Trump's first term. In a segment for conservative news outlet Newsmax TV that aired Monday night, Carson said he is eyeing a position in the private sector, according to an article in The Washington Post, saying, "I think you have just as much influence, maybe more, there."
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  • HUD providing $652 million more for Hurricane Harvey recovery efforts in Texas

    Additional money on top of original $5 billion grant
    With parts of Texas still recovering from the damage caused by Hurricane Harvey in 2017, the Department of Housing and Urban Development announced Monday that it is granting an additional $652 million to aid in the recovery. The new funding will supplement the more than $5 billion that HUD originally gave to Texas to recover from Harvey.
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  • HUD picks former SDNY prosecutor Bart Schwartz to oversee New York public housing overhaul

    Will supervise revamp of failing facilities
    Earlier this month, federal authorities moved to exert more control over the struggling New York City Housing Authority, which has been accused of repeatedly violating basic health and safety regulations. Part of the agreement involves the naming of a federal monitor who will be charged with overseeing the revamp of the NYCHA facilities. HUD announced Friday that it has chosen who will serve in that role.
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