HUD

The Department of Housing and Urban Development reinstituted the “affirmatively furthering fair housing" measure, which the Trump administration had argued was overly prescriptive, and promised a later rulemaking to bolster the policy.

Between terms as Federal Housing Commissioner — where he oversaw Radian's government-run competitor — he served on the private mortgage insurer's board.

Reviving a long-dormant loan guarantee program could go a long way toward restocking the supply of starter homes and helping households of modest means create wealth, writes the President and CEO of University Bank.

The confirmation of the U.S. Housing and Urban Development secretary presents an opportunity to restore the legacy of homeownership in America, something that for communities of color has long been out of reach, writes CBC Mortgage's Tai Christensen.

The Department of Housing and Urban Development will revive a 2013 rule that makes lenders liable for practices that were unintentionally discriminatory as well as 2015 guidelines for how local jurisdictions comply with the Fair Housing Act.

Although the Federal Housing Administration's insurance fund is "well above" its legal minimum, HUD Secretary Marcia Fudge said the mortgage agency has no plans to cut prices.

The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.

The complaint alleged the bank discriminated by refusing to make a mortgage loan after learning it would be used to finance a group home for disabled people.

HUD also said that it will extend mortgage insurance to homeowners whose properties have been destroyed.

The reduction currently under consideration by the Biden Administration would lead to even faster home price appreciation, especially in areas with moderate FHA presence, American Enterprise Institute’s Housing Director of Research Tobias Peter says.

Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less expensive.

Marcia Fudge told senators that her first priority as secretary would be to assist renters and homeowners struggling financially due to the COVID-19 pandemic.

The president’s executive action looks to assess the impact of the previous administration's alterations to the Affirmatively Furthering Fair Housing and Disparate Impact rules, while reinforcing Biden’s vow to eliminate discriminatory lending practices.

Appointee Jenn Jones spent the last four years as the chief of policy and membership at the National Community Reinvestment Coalition, an organization fighting housing and lending discrimination.

Fudge, who has served in the House since 2008, represents most of the majority-Black areas of Cleveland as well as part of Akron.

The teams include people who previously worked for the Treasury and the Federal Housing Finance Agency as well as HUD.

The Assistant Secretary for Housing and Federal Housing Commissioner at the Department of Housing and Urban Development says HUD is removing regulatory barriers to the proliferation of manufactured housing.

If the underwriters' option is exercised, proceeds will bring in $112 million instead of a possible $176 million.

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.