HUD

WASHINGTON, DC - September 1, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the August edition of the Obama Administration's Housing Scorecard. Included in this month’s report are detailed assessments for the 10 largest mortgage servicers participating in the Making Home Affordable Program with results from the second quarter of 2011. In addition to providing greater transparency about servicer performance in the program, the servicer assessments – first introduced in June and published quarterly – are intended to set a new industry benchmark for disclosure around servicer efforts to assist struggling homeowners, while prompting them to correct identified deficiencies.

WASHINGTON, DC - August 31, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced that it is charging John and Nancy Meany, owners of an apartment building in Traer, Iowa, with violating the Fair Housin...

WASHINGTON, DC - August 31, 2011 - (RealEstateRama) -- Today, U.S. Department of Housing and Urban Development Secretary Shaun Donovan announced that HUD will award $1.63 billion for Fiscal Year 2011 to support nearly 7,000 existing homeless assistance programs currently operating and create additional new homeless assistance programs with the Continuum of Care (CoC) Homeless Assistance Program Notice of Funding Availability (NOFA).

WASHINGTON, DC - August 31, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced that it is charging John and Nancy Meany, owners of an apartment building in Traer, Iowa, with violating the Fair Housin...

WASHINGTON, DC - August 31, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Iowa and provide support to homeowners and low-income renter...

WASHINGTON, DC - August 31, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced five cities will receive a combined $122 million to redevelop distressed housing and bring comprehensive neighborhood revitalization to blighted areas.

WASHINGTON, DC - August 30, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced it has awarded The Manhattan Strategies Group, LLC and its subcontractor the Center for Neighborhood Technology (CNT) a $3.2 million contract to create a national Housing and Transportation Affordability Index. The groundbreaking index will provide potential homebuyers with a true estimate of both housing and transportation costs that can in turn help them make a more educated decision.

WASHINGTON, DC - August 29, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development and NeighborWorks® America today reopened the application process for the Emergency Homeowners’ Loan Program (EHLP) in 27 states and Puerto Rico to give homeowners at risk of foreclosure more time to apply for the program. While the original application deadline was July 27, HUD estimates that resources will be available to reach more struggling homeowners and will accept applications submitted through September 15, 2011.

WASHINGTON, DC - August 25, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) is charging RiverBay Corporation, a housing cooperative located in the Bronx, and two of its employees with violating the Fair Housing Act for denying a disabled man’s reasonable accommodation request. HUD brings the charge on behalf of the disabled tenant, claiming that RiverBay refused to allow the tenant to have a medically prescribed emotional support animal and that the cooperative’s security officers harassed the tenant because of the service animal.

WASHINGTON, DC - August 23, 2011 - (RealEstateRama) --– The U.S. Department of Housing and Urban Development today awarded more than $28 million to 46 rural and tribal communities throughout the nation to address distressed housing conditions and concentrated poverty.

WASHINGTON, DC - August 22, 2011 - (RealEstateRama) -- Never in the history of the Federal Housing Administration has there been such demand for FHA-insured financing to build, rehabilitate or refinance multifamily apartment properties. FHA today announced that it has endorsed $10.5 billion in multifamily rental housing loans since last October, with another month-and-a-half remaining in the fiscal year.

WASHINGTON, DC - August 17, 2011 - (RealEstateRama) -- In an historic collaborative effort to assure the success of previous federal investments, the U.S. Department of Housing and Urban Development (HUD) and the Environmental Protection Agency (EPA) today competitively awarded $5.65 million to eight organizations to help existing federal grantees work together to solve common problems.

WASHINGTON, DC - August 16, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan announced today that HUD will provide assistance to families affected by this spring’s catastrophic tornadoes in Joplin, MO, and central Alabama, by entering into an unprecedented purchase agreement to sell real estate owned properties (REO) to public housing authorities in the affected areas

WASHINGTON, DC - August 10, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today launched a new web-based mapping tool displaying the location all foreclosed properties being held by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). These foreclosed homes collectively account nearly half of all real estate-owned or REO properties in the U.S. HUD’s REO Portal is intended to help local communities, homebuyers and responsible investors to acquire these properties and accelerate efforts to stabilize local housing markets.

WASHINGTON, DC - August 5, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the July edition of the Obama Administration's Housing Scorecard - a comprehensive report on the nation's housing market. The latest housing data offer continued mixed signals as home prices improved slightly but showed continued strain from foreclosures and distressed homes.

WASHINGTON, DC - August 2, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) announced today that it has charged the owner and manager of Breckenridge Plaza Apartments in Phoenixville, PA, with violating the Fa...

WASHINGTON, DC - August 1, 2011 - (RealEstateRama) -- The Federal Housing Administration’s Mortgagee Review Board (MRB) today announced hundreds of administrative actions against FHA-approved lenders who failed to meet its requirements. MRB sanctions against lenders include reprimands, probations, suspensions, withdrawals of approval, and civil money penalties. Read the full text of MRB’s Federal Register Notice

WASHINGTON, DC - July 29, 2011 - (RealEstateRama) -- Today, U.S. Housing and Urban Development Secretary Shaun Donovan announced the availability of $95 million to support sustainable local initiatives through the FY 2011 Regional Planning and Community Challenge Planning Grant Programs from HUD’s Office of Sustainable Housing and Communities. Awarded competitively, both programs work to expand housing choices, improve connections between employment centers and homes, and reduce barriers to achieving affordable, economically vital, and sustainable communities.

Washington, D.C. - July 25, 2011 - (RealEstateRama) -- Today the U.S. Department of Housing and Urban Development and NeighborWorks® America announced that the deadline for the Emergency Homeowners' Loan Program has been extended to Wednesday, July 27, 2011, in order to give homeowners at risk of foreclosure in the participating 27 states and Puerto Rico more time to apply for the program.

WASHINGTON, DC - July 21, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) announced today that it is charging James and Julia Norton, a couple who owns rental property in Brown County, Wisconsin, with violating the Fair Housing Act for allegedly establishing different terms for a single mother’s tenancy, including requiring her to be at home when her teenage son had visitors. HUD’s charge also claims that the Nortons’ lease agreement included policies and rules restricting and imposing limitations on families with children.

WASHINGTON, DC - July 19, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the Commonwealth of Puerto Rico and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding, mudslides, and landslides in May and June.

WASHINGTON, DC - July 15, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the Commonwealth of Pennsylvania and provide support to homeowners and low-income renters forced from their homes following severe storms and flooding in April.

WASHINGTON, DC - July 14, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan and U.S. Department of Veterans Affairs Secretary Eric K. Shinseki announced today that HUD will provide $46.2 million to public housing agencies in all 50 states and the District of Columbia to supply permanent housing and case management for 6,790 homeless veterans in America.

Washington D.C. - July 14, 2011 - (RealEstateRama) -- The deadline for homeowners to qualify for the Emergency Homeowners’ Loan Program (EHLP) is rapidly approaching with all Pre-Applicant Screening Worksheets due by Friday, July 22, 2011.The EHLP, launched by the U.S. Department of Housing and Urban Development (HUD) in conjunction with NeighborWorks® America in June, is designed to help homeowners who are at risk of foreclosure in 27 states across the country and Puerto Rico. The program assists homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment or underemployment, due to economic conditions or a medical condition.Under EHLP guidelines eligible homeowners can qualify for an interest free loan which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first.

WASHINGTON, DC - July 13, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced an agreement with Prospect Mortgage, LLC (Prospect) to settle allegations the California-based mortgage lender created sham affiliated business arrangements for the purpose of paying improper kickbacks or referral fees in violation of Federal Housing Administration (FHA) guidelines and the Real Estate Settlement Procedures Act (RESPA). Prospect agreed to dissolve these sham joint ventures and pay $3.1 million to resolve the complaint

WASHINGTON, DC - July 13, 2011 - (RealEstateRama) -- U.S. Department of Housing and Urban Development Secretary Shaun Donovan today awarded more than $1.9 billion to public housing authorities in all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands. The funds will allow these agencies to make major large-scale improvements to their public housing units. View a full list of public housing authorities receiving funding.

WASHINGTON, DC - July 12, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced an agreement with Fidelity National Financial, Inc. (FNF) to settle allegations the title company paid real estate brokers and other settlement service providers improper kickbacks or referral fees in violation of the Real Estate Settlement Procedures Act (RESPA). Read the full text of the agreement announced today.

Washington, D.C. - July 11, 2011 - (RealEstateRama) -- Today, the Obama Administration launched Strong Cities, Strong Communities (SC2), a new and customized pilot initiative to strengthen local capacity and spark economic growth in local communities, while ensuring taxpayer dollars are used wisely and efficiently. To accomplish this, federal agencies will provide experienced staff to work directly with six cities: Chester, PA; Cleveland, OH; Detroit, MI; Fresno, CA; Memphis, TN; and New Orleans, LA. These teams will work with local governments, the private sector, and other institutions to leverage federal dollars and support the work being done at the local level to encourage economic growth community development.

Washington, DC - July 7, 2011 - (RealEstateRama) -- Today, the Obama Administration announced adjustments to Federal Housing Administration (FHA) requirements that will require servicers to extend the forbearance period for unemployed homeowners to 12 months. The Administration also intends to require servicers participating in the Making Home Affordable Program (MHA) to extend the minimum forbearance period to 12 months wherever possible under regulator and investor guidelines. These adjustments will provide much needed assistance for unemployed homeowners trying to stay in their homes while seeking re-employment. These changes are intended to set a standard for the mortgage industry to provide more robust assistance to unemployed homeowners in the economic downturn.The changes to FHA’s Special Forbearance Program announced today will require servicers to extend the forbearance period for FHA borrowers who qualify for the program from four months to 12 months and remove upfront hurdles to make it easier for unemployed borrowers to qualify.

WASHINGTON, DC - July 6, 2011 - (RealEstateRama) -- Homeowners living in Cameron, Orleans, Plaquemines, and St. Bernard Parishes may be eligible for additional compensation under the Louisiana’s Road Home Program under the terms of a settlement agree...