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Home | Tag Archives: HUD

Tag Archives: HUD

U.S. Bank, HUD Settle Discrimination Allegations

HELOC

U.S. Bank has reached a settlement with a housing regulator over allegations the bank discriminated against a Native American couple in denying them a refinance. In a complaint filed with HUD, the couple alleged U.S. Bank and its appraiser, Red Sky Risk Services, turned down their refinance application last year, informing them that the bank couldn't make the loan because their property was located on a reservation and could not be appraised.

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Firm to Sell $2.3 Billion in Nonperforming Loans for HUD

American-flag-money

Online marketplace exchange DebtX has announced its intention to sell 15,000 nonperforming residential loans for the U.S. Department of Housing and Urban Development (HUD) as part of the agency's Single-Family Loan Sale (SFLS) program. The unpaid principal balance of the loans amounts to about $2.3 billion. The bid is scheduled for September 30. The loans will be sold in eight national pools ranging from $94.5 million to $804.5 million.

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FHA Revises Rules Regarding Prepayments, ARMs

finances

The Federal Housing Administration (FHA) announced on August 25 the passing of two new rules – one that prohibits lenders from charging interest on FHA-insured mortgages that are paid in full and one that requires lenders to give borrowers earlier access to information regarding FHA-insured ARMs.

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Residential Construction Activity Increases

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Residential construction is on its way up, with building permit authorizations for privately owned housing units increasing by 8.1 percent from June to July and rising 7.7 percent from July 2013, according to data released on August 19 by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.

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HUD Releases National Scorecard for July

American-flag-house

The national Housing Scorecard compiled by HUD was released today, detailing a smaller number of foreclosure starts and increasing sales among existing homes in July. While the report's highlights weren't all positive, most indicators seem to be moving in the right direction. The only exception came from new home sales, which fell in June and were retroactively revised downward for the month of May.

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New Jersey Lender Settles Complaint

HELOC

New Jersey-based nationwide residential lender Freedom Mortgage Corporation agreed to pay $104,000 in a discrimination settlement with the U.S. Department of Housing and Urban Development, HUD announced on August 13.

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Government Partnership Marks Five Year Anniversary

To celebrate the five-year anniversary of the founding of the Partnership for Sustainable Communities, three government agencies released a report entitled "Five Years of Learning from Communities and Coordinating Federal Investments," which details the progress made toward improving housing, environmental protection, and transportation systems in the last five years.

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