HUD

Affordable housing developers and advocates fear the reductions would be devastating for Minnesota, where a recent report by the Minnesota Housing Partnership found that one in four households pay more for a place to live than they can afford.

Lawmakers from both political parties are increasingly interested in forcing lenders that offer loans to upgrade home heating and cooling systems to issue better disclosures, a prospect that has some in the industry nervous.

Mayor Sylvester Turner expressed optimism Monday about city efforts to resolve a federal finding that Houston housing policies violate the Civil Rights Act, saying U.S. Department of Housing and Urban Development Secretary Ben Carson told him last month he "is very pleased with the direction in which we are going."

Speaking at a town hall event in Washington, JPMorgan Chase CEO Jamie Dimon said that post-crisis regulations have made mortgages too costly for consumers — and made homeownership unattainable for borrowers with low incomes or blemished credit histories.

Affordable housing advocates are skeptical of claims by the Department of Housing and Urban Development that proposed cuts to the agency's budget will eventually be made up for by additional funding in the infrastructure bill.

President Trump's budget released Thursday calls for slashing the Department of Housing and Urban Development's funding by 13%, or $6.2 billion, compared with 2016 levels, a blow to many bankerswho say affordable housing programs and other HUD initiatives are vital to their work.

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs.

On the eve of delivering money to help flood victims rebuild their homes, the federal agency is demanding Louisiana repay $6.6 million because of sloppy handling of funds for building low- and moderate-income housing over the past decade.

The Department of Housing and Urban Development and Alpine Bank & Trust have reached an agreement to resolve claims that the lender discriminated against African-American and Hispanic mortgage applicants.

Two Memphis agencies heavily reliant on Department of Housing and Urban Development funding could face deep, far-reaching cuts if the Trump administration slices $6 billion from HUD's budget.