HUD

HUD Deputy Secretary Brian Montgomery questioned "whether we could ever totally accept desktop-only appraisals" at the Mortgage Bankers Association conference this week.

The bar to prove discriminatory patterns is so high that plaintiffs would have slim odds of winning lawsuits against housing providers.

The accusations against Nutter Home Loans, like an earlier settlement with the Department of Housing and Urban Development, center on concerns related to FHA-insured reverse mortgages. The company "strongly disputes" them.

Twelve people were charged in a scheme regarding the creation of 100 fraudulent mortgages in Georgia, according to the HUD inspector general.

The final version of the amended rule, like the original proposal, makes fair lending claims tougher to prove; but it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination.

Individuals who received a coronavirus stimulus check earlier this year also qualify for the protection, as do couples who jointly file their taxes and expect to earn less than $198,000.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

The proprietors of the Lorraine Hotel in downtown Toledo have received multi-year prison sentences from a federal judge for orchestrating a $3.9 million fraudulent real-estate investment scheme, while a third person received probation.

While Black homeownership just rose to its highest level in 16 years, it's still the lowest of any racial demographic and 29 percentage points behind white people.

Black homeownership grew for the fourth quarter in a row, hitting its largest percentage since 2004 despite disproportionate impacts of the coronavirus.