HUD

WASHINGTON, DC - March 6, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development announced today that the owner of Breckenridge Plaza Apartment complex in Phoenixville, PA, has agreed to pay $15,000 as part of a consent decree ...

WASHINGTON, DC - March 6, 2012 - (RealEstateRama) -- Today, the U.S. Department of Housing and Urban Development (HUD) kicked off a series of consultations with tribal leaders in preparation for HUD's forthcoming study on the chronic housing needs in Indian Country, "Assessment of Native American, Alaska Native, and Native Hawaiian Housing Needs." During these consultations, tribal leaders will have an opportunity to comment on the scope and design of the pending study. HUD will hold six regional meetings and two national meetings, the first of which in Washington, DC.

WASHINGTON, DC - March 5, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the February edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. Data continues to show signs that the housing market is strengthening, although the recovery remains fragile. The supply of new and existing homes on the market continued to decline last month. However, home prices dipped again as seasonal lows continued for the fourth month in a row.

WASHINGTON, DC - March 1, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today announced $5 million is being made available in Choice Neighborhoods Planning Grantsto help communities begin the comprehensive neighborhood planning process to transform, rehabilitate and preserve public housing and privately-owned HUD-assisted housing. Read HUD’s FY 2011 Choice Neighborhoods Notice of Funding Availability.

WASHINGTON, DC - February 28, 2012 - (RealEstateRama) -- As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante today announced a new premium structure for FHA-insured single family mortgage loans. FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount. Upfront premiums (UFMIP) will also increase by 0.75 percent.

WASHINGTON, DC - February 27, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced that it is charging Bank of America with discriminating against homebuyers with disabilities. HUD alleges that Bank of America imposed unnecessary and burdensome requirements on borrowers who relied on disability income to qualify for their home loans and required some disabled borrowers to provide physician statements to qualify for home mortgage loans.

WASHINGTON, DC - February 22, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the National Fair Housing Alliance(NFHA) announced today the launch of a new series of radio and print public service advertisements (PSAs). The advertisements are designed to teach individuals and families how to recognize and report discrimination in housing because of race, color, sex, religion, national origin, familial status and disability, including discrimination in mortgage lending because of issues related to pregnancy and/or parental leave.

WASHINGTON, DC - February 21, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today announced $108 million in additional Indian Housing Block Grant (IHBG) allocations to 68 tribes in 19 states. Thesefunds are distributed each year based on a formula to eligible Indian tribes or their tribally designated housing entities for a range of affordable housing activities.

WASHINGTON, DC - February 17, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development makes $95 million available today through two grant programs that help residents who receive HUD rental assistance get the necessary education and job training to gain employment and increase their income. One of the grant programs also helps senior citizens connect with supportive services to allow them to stay in their home.

WASHINGTON, DC - February 16, 2012 - (RealEstateRama) -- To improve performance and boost the capacity of state and local governments to implement their federal block grant programs for housing and community development, the U.S. Department of Housing and Urban Development is making nearly $62 million available through the Office of Community Planning and Development’s (CPD) OneCPD and Core Curricula Programs. Read HUD’s Notice of Funding Availability (NOFA).

WASHINGTON, D.C. - February 16, 2012 - (RealEstateRama) -- Preet Bharara, the United States Attorney for the Southern District of New York, Helen Kanovsky, General Counsel of the U.S. Department of Housing and Urban Development (“HUD”), and David A. Montoya, the Inspector General of HUD, announced today that the United States has filed, and simultaneously settled, a civil fraud lawsuit against CITIMORTGAGE, INC. (“CITIMORTGAGE”), a subsidiary of CITIBANK, N.A. The Government’s Complaint seeks damages and civil penalties under the False Claims Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”) for over six years of misconduct in connection with CITIMORTGAGE’s participation in the Federal Housing Administration (“FHA”) Direct Endorsement Lender Program

WASHINGTON, DC - February 14, 2012 - (RealEstateRama) -- Today, U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan addressed the National Association of Regional Councils and announced that HUD’s fiscal year 2013 budget proposal includes $100 million to fund Regional Planning and Community Challenge Grants. The grants are part of the Partnership for Sustainable Communities, which is an association between HUD, the U.S. Department of Transportation, and the U.S. Environmental Protection Agency joining the federal government with local partners in taking a pragmatic, regional approach to problem solving that supports local leadership, local resources, and local innovation.

WASHINGTON, DC - February 13, 2012 - (RealEstateRama) -- U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today unveiled HUD’s fiscal year 2013 budget proposal. Titled Housing and Communities Built to Last, the budget reflects the President’s vision of an America that can draw strength from its vibrant communities and momentum from a robust housing market.

WASHINGTON, DC - February 13, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today awarded $4.1 million to 17 public housing authorities to address emergency, safety and security needs at their public housing properties, including measures necessary to fight crime and drug activities.

WASHINGTON, DC - February 13, 2012 - (RealEstateRama) -- The Federal Housing Administration (FHA) today unveiled a new pilot program to test an accelerated approval process for the purchase or refinancing of multi-family rental properties assisted through the Low-Income Housing Tax Credit (LIHTC) Program.

WASHINGTON, DC - February 13, 2012 - (RealEstateRama) -- U.S. Department of Housing and Urban Development Secretary Shaun Donovan awarded today nearly $1.8 billion to public housing authorities in all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands.

WASHINGTON, D.C. - February 10, 2012 - (RealEstateRama) -- As part of the global resolution between the United States of America and the five largest mortgage servicing banks in the country, which will bring much needed relief to financially distressed homeowners nationwide, Loretta E. Lynch, United States Attorney for the Eastern District of New York, today announced that the government will also resolve its claims against the Bank of America, Countrywide Financial Corporation and certain Countrywide subsidiaries and affiliates (Countrywide) for underwriting and origination mortgage fraud.

WASHINGTON, DC - February 10, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development announced today that it has awarded $7.5 million to state and local government agencies that enforce fair housing laws and help communities and housing providers to better understand their fair housing rights and responsibilities (see attached list).

WASHINGTON, DC - February 10, 2012 - (RealEstateRama) -- U.S. Attorney General Eric Holder, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced today that the federal government and 49 state attorneys general have reached a landmark $25 billion agreement with the nation's five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. The agreement provides substantial financial relief to homeowners and establishes significant new homeowner protections for the future.

WASHINGTON, DC - February 7, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the January edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. Data in the January Housing Scorecard underscore fragility as the overall outlook remains mixed. Inventories of existing homes for sale and the overhang of homes held off market improved over the last two quarters and foreclosure starts continued to fall in December.