Links in “HUD”

Two mortgage lenders find out the hard way that originating home loans that don't meet HUD guidelines can be a bad idea. A Tennessee lender has agreed to pay $70 million and a much smaller lender in Utah has agreed to pay $1 million. [12/8/15]

Michigan lender requested an applicant for a mortgage loan get a note from his doctor proving his disability is permanent. HUD and the lender have just settled the case. "A person's qualifications to purchase a home should be the only criteria used to evaluate his or her loan application, not whether they are living with a disability." [11/18/15]

HUD is holding its first sale offering of FY 2016, SFLS 2016-1, with intention to sell unsubsidized single family mortgage loans without FHA insurance. The sale will be held today, November 18, 2015, and details of the sale can be found in a HUD released notice which outlines the bidding process and bidder ineligibility. [11/18/15]

HUD has ruled to amend the Community Development Block Grant (CDBG) program regulations in order to promote better tracking and accounting procedures regarding the use of grant funds. Through this rule, grantees will be required to track obligations and expenditures of funds for each specific fiscal year grant. [11/11/15]

Through the Section 108 Loan Guarantee Program, local governments can turn a limited amount of Community Development Block Grant funding into federally guaranteed loans for use in economic revitalization. Under the Housing and Urban Development Department's final rule, fees will be collected from borrowers to offset credit subsidy costs.  [11/03/15]

The Housing and Urban Development Department (HUD) has proposed a new rule for use in investigations involving alleged harassment related to the Fair Housing Act, specifying how HUD would evaluate and handle complaints of quid pro quo and hostile environment harassment. [10/21/2015]

Fifty years and $1.6 trillion later, HUD has failed to live up to its lofty aspirations, said Jeb Hensarling (R-Texas), chair of the House Financial Services Committee. [9/14/15]

The Department of Justice settles with Walter Investment Management for $29.6 million for its "knowing failure to comply with important HUD requirements" when servicing HUD-insured reverse mortgages. [9/8/15]

Fair housing will be getting some increased attention in Washington, D.C. next month when HUD hosts a conference called "A Call to Advance Housing Rights and Opportunities." Disparate impact is expected to be a key topic of discussion. [8/27/15]