Tag Archives: HUD

The U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Treasury, and the Ad Council have teamed up for a series of public service announcements (PSAs) in an effort to reach struggling homeowners and prevent foreclosures, HUD announced on Wednesday.

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.

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.

The U.S. Department of Housing and Urban Development (HUD) announced in a report released last week it has sold $15.8 billion in nonperforming loans since 2010, cutting losses to its insurance fund and saving thousands of homeowners from foreclosure.

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.

Obama administration officials praised Thursday's $16.65 billion settlement between Bank of America and the U.S. Department of Justice, $7 billion of which will go to provide consumer relief to assist those distressed by the collapse of the housing market in 2008.

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.

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.

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.

Fifth Third Bancorp, Inc. has agreed to pay $1.52 million in a settlement with the U.S. Department of Justice, which charged that Fifth Third discriminated against loan applicants based on disability.