Tag Archives: HUD

Castro says America is in a better place than it was a few years ago as far as housing, but is still struggling in some areas: namely, affordability and not being prepared to accommodate the baby boomer population.

When FHA announced it was lowering its mortgage insurance premiums in January by 50 basis points down to 0.85 percent, the move drew intense criticism from Republican lawmakers who accused the agency of cutting off a revenue stream while the Mutual Mortgage Insurance Fund capital ratio sat at 0.41 percent, less than one-quarter of the 2 percent threshold required by Congress.

FY2015 marked the third consecutive year of economic growth for the FHA’s MMI fund. The growth of the fund allows FHFA to expand credit access to qualified borrowers; the annual report noted a significant increase in loan volume during FY 2015 which FHA largely attributed to a reduction of 50 basis points to mortgage insurance premiums (MIPs) in January 2015.

Just a few days after proposing to eliminate several government agencies, including HUD, Texas Senator and Republican presidential hopeful Ted Cruz agreed to cosponsor the latest Federal Reserve Act of 2015 (S. 2232), commonly known as the “Audit the Fed” bill introduced by Sen. Rand Paul (R-Kentucky).

According to Smoke, 32 percent of millennials were homebuyers this year, while 18 percent were sellers. On the one other hand, 40 percent of millennials own a home, while 60 percent rent.

HUD has announced that it is extending the deadline for reverse mortgage lenders to submit payable requests for home equity conversion mortgages (HECMs) that defaulted on or after April 23, 2015, due to unpaid property charges.

Castro, 41, has been HUD Secretary since July 2014. Prior to becoming the country’s top housing official, Castro served as mayor of San Antonio from 2009 to 2014. His twin brother, Joaquin, a Democratic U.S. Senator from Texas, has already endorsed Clinton and done some campaigning for her.

Fifth Third made a voluntary disclosure of approximately 1,400 loans from 2003 to 2013 that the bank had certified as eligible for FHA insurance that were later found to contain material defects that would have made those loans ineligible for FHA insurance.

HUD has announced the latest sale in the Distressed Asset Stabilization Program (DASP), Single Family Loan Sale 2016-1 (SFLS 2016-1) consisting of one offering date with National Pools and Neighborhood Stabilization Outcome (NSO) Pools offered on November 18, 2015.

San Francisco-based non-profit California Reinvestment Coalition (CRC) filed a lawsuit in federal court against HUD, claiming that the Department improperly denied a fee waiver for a Freedom of Information Act (FOIA) request, according to an announcement from CRC.