The House Appropriations Committee has approved an additional $4.2 billion in Community Development Block Grant funds, but the appropriators did not earmark it exclusively for Louisiana as requested by the Bush administration.It now appears that Louisiana and Texas, which is seeking $367 million in CDBG funds to repair and rebuild housing damaged by Hurricane Rita, will have to split the pot. Rep. Kevin Brady R-Texas, said it is "unfair" that the supplemental appropriation does not provide enough CDBG funds. "We are hoping to work with the leadership and the appropriators to move these numbers up," Rep. Brady said. Meanwhile, the president's coordinator for Gulf Coast recovery, Donald Powell, testified before a congressional committee that he is telling the largest mortgage lenders CDBG funds will be available to homeowners in the hurricane disaster areas in a "very short period of time." The CDBG funds will enable homeowners to "satisfy some mortgage obligations that they might not otherwise be able to do," he testified. Mississippi officials plan to begin taking housing assistance applications by April 1, but they estimate it could be another three months before the CDBG funds actually reach homeowners.
-
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
4h ago -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27 -
Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
March 27