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Tag Archives: HUD

Castro Discusses FY 2016 HUD Budget Before House Committee On Appropriations

U.S. Department of Housing and Urban Development Secretary Julián Castro addressed the U.S. House Committee on Appropriations Wednesday on the Fiscal Year 2016 budget proposal for HUD, where he emphasized the commitment from the Obama administration to continue to provide affordable housing for families, seniors, disabled Americans and others in need of resources.

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Castro Responds to Questions About Effects of Defaults

While most Republican lawmakers grilled HUD Secretary Julián Castro on the recent lowering of the FHA mortgage insurance premiums and FHA's MMI Fund Wednesday during his testimony to the House Financial Services Committee, Representative Mia Love (R-Utah) opted to cover a different subject: defaults and their potentially negative effect on their respective neighborhoods.

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Subcommittee Testimony Reveals Violations by HUD Officials

Investigators from HUD's Office of Inspector General (HUD OIG) and the Government Accountability Office (GAO) testified before the House Financial Services Subcommittee on Oversight and Investigations on Wednesday that some senior officials at HUD violated federal law and obstructed investigators' efforts to uncover wrongdoing.

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New FHA Policy Provides Foreclosure Alternative on Reverse Mortgages

A new policy issued by the Federal Housing Administration (FHA) on Thursday under its Home Equity Conversion Mortgage (HECM) Program will allow reverse mortgage lenders to delay calling HECMs from a surviving non-borrowing spouse following the death of the last surviving borrower. Such a delay on collection of the HECM from the surviving non-borrowing spouse would postpone the foreclosure process normally triggered by last surviving borrower's death. Under the new policy, reverse mortgage lenders have the option of assigning the HECM to HUD, thus allowing that spouse to remain in the home despite his or her non-borrowing status.

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Castro Expresses Optimism, Addresses Challenges Facing Housing in ‘Fireside Chat’

Castro based his optimism on what he called a "confluence of factors" he believes will encourage more potential homebuyers to take the plunge this year, including a leveling off in home prices, lower entry barriers to mortgage credit, and falling costs—helped by an imminent reduction in Federal Housing Administration (FHA) annual mortgage insurance premiums and the Federal Housing Finance Agency's (FHFA) directive for Fannie and Freddie to accept mortgages with lower down payments.

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Castro to Answer Housing Questions at Fireside Chat-Style Event

U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro will answer questions about a variety of housing topics in a fireside-chat style event on the morning after President Obama's state of the union speech on Wednesday, January 21, at the Newseum in Washington, D.C.

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