Tag Archives: HUD

HUD announced Friday that a $20,000 settlement has been reached with Land Home Financial Services (LHFS) to resolve allegations of discriminatory practices based on maternity status.

New York-based GFI Mortgage Bankers Inc., reached a $3.5 million settlement with the Department of Justice regarding discriminatory lending practices Tuesday.

Massachusetts Attorney General Martha Coakley joined HUD Secretary Shaun Donovan and Brockton Mayor Linda M. Balzotti on Monday to tour an abandoned property in Brockton while raising awareness of foreclosure programs in the state.

HUD is asking for the public to bring their innovative ideas to the agency's new online platform, Innovation of the Day.

On behalf of SEBA Professional Services, DebtX will sell a $1.7 billion portfolio of non-performing residential loans for HUD, DebtX announced Thursday. The portfolio, SFLS 2012-3, is made up of loans collateralized by homes across the country. It will be offered in standard national pools, as well as regional pools in support of HUD's Distressed Asset Stabilization Program (DASP).

Despite continuing improvement in builder confidence, housing starts slipped in July to 746,000, with single-family starts accounting for decline, the Census Bureau and Department of Housing and Urban Development reported jointly Thursday. On the other hand, housing permits improved to 812,000, the highest level in almost four years. Economists surveyed by Bloomberg expected 750,000 starts and 766,000 permits in July.

An injunction granted to Allied Home Mortgage that offered the mortgage lender relief from a suspension was recently dismissed. In November 2011, Allied was barred by HUD from originating and underwriting new FHA insured-mortgages. HUD accused Allied of violating HUD/FHA requirements and committing fraud. Allied countered with its own lawsuit and filed for declaratory and injunctive relief. A federal judge in Houston provided Allied with the preliminary injunction, which was recently lifted by U.S. District Judge Gray Miller.

The Department of the Treasury and HUD announced Wednesday that they are hosting a free event for struggling homeowners in Maryland. The event will be the Obama administration's 75th occasion designed to bring together the nation's largest mortgage servicers, local HUD-approved housing counseling agencies, non-profits, and government partners to assist homeowners struggling to avoid foreclosure.

SunTrust is under investigation by HUD regarding its FHA loan origination practices. HUD made its investigation known to the Atlanta-based bank April 25, and in a recent filing, the bank said, ""The Company is cooperating with the investigation."" According to the filing, HUD's investigation pertains ""generally to origination practices for FHA loans.""

HUD and Treasury Department released the latest scorecard Friday, providing a look at a market in recovery but threatened by an expected increase in foreclosure activity. According to the report, foreclosure starts and completions both declined in June, painting a picture of continued recovery. However, officials expect foreclosure activity to pick up in coming months as firms lift delays in foreclosure processing.