Tag Archives: HUD

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.

As analysts and critics pore over the details of the White House's proposed budget for fiscal year 2016, the executive department in charge of housing says it hopes to use its share to restore cuts made after 2013's budget sequester.

The U.S. Department of Housing and Urban Development (HUD) has provided guidance for state and local entities for implementation of the National Housing Trust Fund (HTF) in the form of an interim program rule published in the Federal Register, according to an announcement from HUD.

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.

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.

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.

The U.S. Department of Housing and Urban Development (HUD) is awarding seven Choice Neighborhoods Planning grants worth $3.2 million in six cities, HUD Secretary Julián Castro announced while speaking to grant recipient Louisville Metro Housing Authority in Kentucky on Friday. HUD's signature place-based initiative, Choice Neighborhoods' goal is to transform those neighborhoods that are struggling to address the challenges of distressed housing, inadequate schools, poor health, high crime, and lack of capital, which are all interconnected.

Secretary for the U.S. Department of Housing and Urban Development (HUD) Julián Castro told the audience at the National Press Club Tuesday afternoon that it was time for the nation to "remove the stigma" promoting homeownership. During his hour-long speech at the Press Club in Washington, D.C., which included a question and answer session, Castro spoke of the economic progress the nation made in 2014, such as experiencing the fastest job growth rate in 15 years, and he addressed HUD's initiatives which are aimed at promoting, increasing, and expanding opportunities for Americans to own a home.

A former loan guarantee specialist for the U.S. Department of Housing and Urban Development (HUD) was sentenced to 26 months in a federal prison for defrauding the federal government of $843,000, according to an announcement from the U.S. Department of Justice.

Real estate economist and former HUD policy advisor Raphael W. Bostic has been elected as a director on Freddie Mac's board of governors, according to an announcement from the GSE.