The Department of Housing and Urban Development has announced that it will speed disaster assistance to tornado-ravaged Kiowa County, Kan., and provide support to homeowners and low-income renters forced from their homes after the recent devastating storms.HUD said its Community Development Block Grant and HOME programs will give the state the flexibility to redirect millions of dollars to housing and services for tornado victims. HUD is in discussions with Kansas officials to waive certain requirements under both programs to expedite the repair and replacement of damaged housing. HUD said it is granting immediate foreclosure relief, including a 90-day moratorium on foreclosures and forbearance on foreclosures of homes insured by the Federal Housing Administration. It is providing temporary housing and shelter. HUD said it will work with the Federal Emergency Management Agency to identify vacant public housing and HUD-owned properties that can be used as temporary housing for those forced from their homes. It is also offering loan guarantee assistance and will offer state and local governments federally guaranteed loans for housing rehabilitation, economic development, and repair of public infrastructure.
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Randian Capital, which has limited influence due to its small stake in the top mortgage company, is recommending a new strategy for the servicing portfolio.
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Increased use of artificial intelligence led to revenue growth and productivity gains during the second quarter, the bank's leaders said.
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