The new Federal Housing Administration director for multifamily housing, Charles H. Williams, is heading to Baton Rouge, La., along with 50 Department of Housing and Urban Development employees to help victims of Hurricane Katrina find temporary housing.The HUD contingent led by Mr. Williams will be assisting the Federal Emergency Management Agency in the relief effort. Mr. Williams, a HUD deputy assistant secretary, was previously in charge of HUD's Office of Affordable Housing Preservation, which is responsible for restructuring expiring federal rent subsidy contracts on privately owned multifamily properties. Meanwhile, the FHA has identified 3,410 foreclosed single-family houses in five Gulf Coast states that might provide shelter for families displaced by the hurricane and flooding. "We are currently inspecting our properties" to determine their condition, a HUD spokesman said.
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Lenders reported July declines of HECM endorsements and new securities issuances, but proprietary lending drove a 28% year-over-year surge in originations.
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The real-estate investment trust affiliate has been focusing on making more funding available for new loans but also seeks to hold the line on credit quality.
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Opponents argued that Provident Bank, which bought Lakeland in 2024, had yet to disburse millions of dollars remaining on a mortgage subsidy fund.
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The competitive and controversial leader, who will stay on the board, oversaw rapid growth but also a massive downsizing, and a notorious mass firing over Zoom.
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The deal bolsters Zions' ability to serve multifamily customers and creates a natural extension of its affordable housing lending program, management said.
August 3 -
Mortgage servicers would like to shed responsibility for second liens but they may be exchanging one set of workflows for others.
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