Items Tagged with 'HUD'

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  • HUD watchdog clears Carson in $31,000 furniture fiasco

    Report shows Mrs. Carson guided furniture selection
    Department of Housing and Urban Development Secretary Ben Carson was cleared by HUD's independent watchdog for the order for a $31,000 custom hardwood dining set that was to be installed in his office. Actually, it seems Carson’s wife had more of a hand in picking out the furniture than the secretary himself. And on top of that, the order was canceled after all.
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  • Fannie Mae, Freddie Mac offering financial assistance to those in Hurricane Dorian's path

    The Category 4 hurricane is expected to hit Florida this weekend
    Hurricane Dorian is forecasted to slam the Florida coast this weekend as a Category 4 hurricane. As Florida prepares for Hurricane Dorian's wrath, Freddie Mac, Fannie Mae and Department of Housing and Urban Development are offering relief services for those affected.
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  • HUD awards $75 million to combat youth homelessness

    $32 million more than last year's funds
    Programs designed to combat homelessness in 23 communities across the country are getting $75 million in funding from the Department of Housing and Urban Development, a jump from last year's $43 million in awards. HUD’s Youth Homelessness Demonstration Program offers rapid rehousing, permanent supportive housing, transitional housing and host homes to communities.
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  • New home sales fell in July, but there's a silver lining in the clouds

    In July, sales of new homes decline 12.8% to an annualized rate of 635,000
    Sales of new homes fell in July, according to the Census Bureau and HUD. While July’s rate was 12.8% below June, it's important to note that June's figures were upwardly revised to a rate of 728,000 and remains 4.3% higher than a year earlier when it was 609,000. The correction of June's figures is a substantial one. When the data initially came out last month, the report showed that new home sales increase 7% over May. Now, the new data shows that new home sales actually rose by more than 20% in May.
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  • HUD officially abandons new rules for down payment assistance on FHA mortgages

    Changes led to lawsuit from Native American tribe, federal court delay
    The Department of Housing and Urban Development announced late last week that is officially bailing on a contentious set of changes to its rules for down payment assistance on mortgages insured by the Federal Housing Administration after the initial proposal led to the agency being sued by a Native American group.
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  • HUD proposes changes to fair housing rules

    Rule changes would make it more difficult to prove housing discrimination
    The Department of Housing and Urban Development on Friday proposed making changes to the nation’s fair housing rules, a move that fair housing advocates claim is part of a Trump administration effort to “gut” federal protections against housing discrimination. The changes to the disparate impact rule will likely make it more difficult to prove unintentional housing discrimination. Click the headline for the full story.
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  • HUD, City of Los Angeles reach "landmark" settlement in accessible housing dispute

    LA to pay "hundreds of millions" to improve accessibility for disabled residents
    The Department of Housing and Urban Development reached a settlement with the City of Los Angeles Friday that will put an end to a years-long battle over the city’s obligation to provide accessible housing for the disabled. According to the "landmark" agreement, the city will pay what will eventually amount to hundreds of millions of dollars to enhance handicap accessibility for residents living in its low-income housing.
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  • HUD details plan to release $16 billion in disaster mitigation funds

    First wave of grants will be issued to 9 states, funds for Puerto Rico and U.S. Virgin Islands will follow
    HUD announced last year that it was awarding a record $28 billion in funds to help states recover from natural disasters. Part of that sum included $16 billion that would be earmarked to fund mitigation efforts in hard-hit areas. Now, the department is getting ready to release its plan for the disbursement of those disaster funds, with senior HUD officials revealing Friday that the $16 billion will be released in two separate tranches.
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  • HUD floating proposal that would limit Fair Housing claims

    Rule changes would make it harder to prosecute lenders for housing discrimination
    The Department of Housing and Urban Development is floating a proposal that would make it harder to prosecute lenders for alleged incidents of housing discrimination under the Fair Housing Act. The updated guidelines revise the current loose, three-step threshold for Fair Housing violations and impose a specific, five-step approach that would require regulators to prove intentional discrimination on the lender’s behalf.
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  • FHA moves to limit cash-out refinances

    Lowers LTV requirements from 85% to 80%
    In the last several years, an increasing number of borrowers with loans backed by the Federal Housing Administration have been refinancing their mortgages to extract cash – a trend some have called concerning and risky. Now, the Department of Housing and Urban Development is taking steps to curb the prevalence of cash-out refinances, announcing Thursday that it’s lowering loan-to-value requirements.
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