The Louisiana Recovery Authority expects to use $7.5 billion in Community Development Block Grant funds to help hurricane victims repair and rebuild nearly 100,000 homes.Louisiana's housing assistance grant program is "well under way," LRA Executive Director Andrew Kopplin told a Financial Services Roundtable event in Washington. So far, 465 applicants have received approval for grants averaging $53,000. The maximum grant is $150,000. Mr. Kopplin said another 14,000 people have completed their initial interviews and will be receiving grants in the next six to eight weeks. "This fall, you will be seeing almost 1,000 folks a day being processed and getting assistance," he said. At the same event, the Financial Services Roundtable unveiled a report by a blue-ribbon commission that recommends ways public and private entities can accelerate the recoveries in Louisiana and Mississippi.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25