Posts filtered by tags: Department of Housing and Urban Development HUD[x]


 

Inside Reverse Mortgage Alternatives: QuantmRE

The leadership team behind a new equity release product made available at the end of 2018 understands that it is competing with standard home equity conversion products like reverse mortgages, but also say that the increasing prevalence of tools dedicated to tapping home equity is helpful in educating prospective customers about ways in which they can access cash from their housing wealth. “I think what we’re saying is that it’s about education, because people right now are not aware of poten...
Tags: Featured, Finance, Hud, Products, Southern California, FHA, Sullivan, Lenders, Department of Housing and Urban Development HUD, Federal Housing Administration FHA, HECM, Matthew Sullivan, QuantmRE, John Livesay QuantmRE, Sullivan Anathema


Inside Reverse Mortgage Alternatives: QuantumRE

The leadership team behind a new equity release product made available at the end of 2018 understands that it is competing with standard home equity conversion products like reverse mortgages, but also say that the increasing prevalence of tools dedicated to tapping home equity is helpful in educating prospective customers about ways in which they can access cash from their housing wealth. “I think what we’re saying is that it’s about education, because people right now are not aware of poten...
Tags: Featured, Finance, Hud, Products, Southern California, FHA, Sullivan, Lenders, Department of Housing and Urban Development HUD, Federal Housing Administration FHA, HECM, Matthew Sullivan, QuantmRE, John Livesay QuantmRE


Local Spotlight: Reverse Mortgages in Florida

Florida remains the retiree capital of the United States. No personal income tax, warm weather and plenty of sunshine drew nearly 78,000 retirees to the state in 2015 alone, according to the most recent U.S. Census migration data. That’s 50,000 more retirees than Arizona, the second state on the list. Regional Stats:Total FL Population: 21.3 million (World Population Review) Senior Population (Ages 65 and up): 19.1% (Pew) Average Home Value: $200,000 (Smart Asset)Year-over-year: Home Price Ap...
Tags: Florida, Featured, Retirement, Finance, Data, United States, Arizona, Hud, Products, Baby Boomers, Clearwater Fla, Tennant, U S Census, Ormond Beach Fla, Department of Housing and Urban Development HUD, HECM


U.S. House Passes Bill to Fund HUD, Transportation Dept.

At the end of the 20th day of the partial United States government shutdown, the Democratically-controlled House of Representatives passed a standalone spending bill to fund and reopen both the Department of Housing and Urban Development (HUD) and the Department of Transportation, along with a handful of other agencies. According to The Hill, the House voted 244-180 in favor of the measure to provide clean funding to the relevant departments. 12 Republicans crossed party lines to vote with De...
Tags: Congress, Washington Post, Washington, Finance, Senate, White House, United States, House, House Of Representatives, Hud, Mitch McConnell, Department Of Transportation, U S House, The Hill, Department of Housing and Urban Development HUD, HUD Transportation Dept


Top 10 Reverse Mortgage Stories of 2018

Along with new hurdles introduced to the reverse mortgage business in 2018 – like a potentially difficult rule concerning second appraisals and the prolonged FHA approval process for condominiums – there also came new opportunities. Among these are the increasing prevalence of proprietary jumbo loans, and another rise in the HECM lending limit from the Department of Housing and Urban Development (HUD). To put a cap on RMD’s coverage for the year, we thought we’d take a look back and present the ...
Tags: News, Finance, San Diego, Hud, Zillow, Freddie Mac, FHA, FHFA, Federal Housing Administration, Fannie Mae, FAR, Department of Housing and Urban Development HUD, Fannie, MMI, HECM, Reverse Mortgage


[Updated] Reverse Mortgage Lending Limit To Rise in 2019

The lending limit for federally-backed reverse mortgages is increasing for the third consecutive year in a row and is set to rise to $726,525 in 2019. The Department of Housing and Urban Development (HUD) announced on Friday via Mortgagee Letter 2018-12 a maximum claim amount of $726,525 for calendar year 2019, up from $679,650 in 2018. HUD calculates this figure at 150 percent of the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac, which was announced by the Fed...
Tags: Finance, Hud, Freddie Mac, Steve Irwin, Virgin Islands, Fannie Mae, Department of Housing and Urban Development HUD, HECM, Mortgagee Letter, John Lunde, Alaska Hawaii Guam, Federal Housing Finance Agency FHFA, Elizabeth Ecker, HUD HUD


Reverse Mortgage Lending Limit To Rise in 2019

The lending limit for federally-backed reverse mortgages is increasing for the third consecutive year in a row and is set to rise to $726,525 in 2019. The Department of Housing and Urban Development (HUD) announced on Friday via Mortgagee Letter 2018-12 a maximum claim amount of $726,525 for calendar year 2019, up from $679,650 in 2018. HUD calculates this figure at 150 percent of the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac, which was announced by the Fed...
Tags: Finance, Hud, Freddie Mac, Steve Irwin, Virgin Islands, Fannie Mae, Department of Housing and Urban Development HUD, HECM, Mortgagee Letter, John Lunde, Alaska Hawaii Guam, Federal Housing Finance Agency FHFA, Elizabeth Ecker, HUD HUD


Reverse Mortgage Market Sees Sharp Uptick in Jumbo Interest

Proprietary reverse mortgages appear to be increasing in their overall prevalence within the larger market, according to data shared with RMD by both reverse mortgage originators and counseling participants. While the Department of Housing and Urban Development (HUD) tracks Home Equity Conversion Mortgage activity month to month, the market for new jumbo products is less known. Yet originators and counselors are saying the interest is strong and rising, with some seeing volume increase from s...
Tags: News, California, Finance, Hud, FHA, San Diego Calif, Ormond Beach Fla, Department of Housing and Urban Development HUD, HECM, Reverse Mortgage, Finance of America Reverse, Christina Harmes, Harmes, Cosentini, Kristen Sieffert, Sieffert


Senate Set to Move Ahead on Kraninger Nomination for CFPB Director

Kathleen Kraninger moved one step closer to leading the Consumer Financial Protection Bureau Thursday in a narrow vote of the Senate. The 50-49 vote in favor of ending debate on her nomination clears the way for a full confirmation vote sometime within the next five days. The matter of CFPB’s leadership is of particular interest to the reverse mortgage industry due to the Bureau’s intended mission of oversight concerning financial institutions, which includes regulating the activity in bo...
Tags: News, Finance, Senate, Hud, Donald Trump, CBA, Bureau, Hunt, Mike Pence, Harvard Law School, Schumer, CFPB, Mitch McConnell R Ky, McConnell, Chuck Schumer, OMB


GAO-19-38, Department of Housing and Urban Development: Better Guidance and Performance Measures Would Help Strengthen Enforcement Efforts, October 30, 2018

What GAO Found The three program offices of the Department of Housing and Urban Development (HUD) that GAO examined have a process in place for referring cases of potential noncompliance to the...
Tags: GAO, Department of Housing and Urban Development, Department of Housing and Urban Development HUD, Better Guidance


Condos Continue to Cause Reverse Mortgage Headaches

The Federal Housing Administration approval process for condominiums continues to be a headache for loan originators who have prospective clients interested in Home Equity Conversion Mortgages. Currently, an entire condominium community must be approved by the FHA for a resident to open a HECM. But many originators said they are met with resistance from condo boards when they approach about beginning the approval process. Of the estimated 170,000 condo associations in the country, only 9,965 are...
Tags: News, Finance, New York City, Chicago, Hud, Sun City, Hochberg, FHA, Brian Sullivan, Mahwah N J, Federal Housing Administration, Department of Housing and Urban Development HUD, HECM, Reverse Mortgage, Nationwide Equities Corp, Philip Parziale


GAO-18-429, Rental Housing Assistance: Actions Needed to Improve Oversight of Criminal History Policies and Implementation of the Fugitive Felon Initiative, August 09, 2018

What GAO Found Federal requirements for public housing agencies. Federal statutes and Department of Housing and Urban Development (HUD) regulations require public housing agencies (PHA) to...
Tags: GAO, Department of Housing and Urban Development HUD


HUD accuses Facebook of Fair Housing Act violations

The Department of Housing and Urban Development (HUD) filed a complaint [PDF] against Facebook on Friday. HUD accuses the social media company of violating the Fair Housing Act, which prohibits discrimination in print and online advertisements on the basis of race, religion, physical ability, gender, and other attributes. (more…)
Tags: Facebook, Post, News, Housing, Hud, Department of Housing and Urban Development HUD, Picks, Housing Discrimination


The Omarosa-Trump Feud Is The Apprentice Reboot No One Asked For

Omarosa Manigault-Newman has a new "tell-all" memoir about her time in the White House, in which she claims President Donald Trump is a racist whose mental health difficulties make him unfit for office. The president, of course, is not happy about what he perceives as a betrayal from his longtime mentee.Over the past few days, there's been secret tapes leaked by Manigault-Newman that have been met by Trump's angry tweets. He has called her a "lowlife" and a "dog." (The latter sparked outrage am...
Tags: Fashion, Music, White House, Hillary Clinton, Arizona, Cbs, Donald Trump, Black, John Kelly, Trump, Katrina Pierson, Omarosa, Kelly, Michael Cohen, Donald J Trump, Oval Office


What You Need to Know About the Fair Housing Act

If you've searched for a new place to live recently, you've likely seen the Equal Housing Opportunity logo (an equal sign inside a house) on a landlord's, real estate agent's or lender's paperwork. But the Fair Housing Act is more than just a logo. It's a federal law designed to protect renters and buyers from discrimination. Here are some key points to know about the Fair Housing Act when you're searching for a place to live. What is the Fair Housing Act? Also known as the Civil Rights Act of...
Tags: Renting, Radio, Hud, Home Buying, Martin Luther King Jr, Legal Issues, Lyndon B Johnson, Department of Housing and Urban Development HUD, Tips & Advice, NFHA, National Fair Housing Alliance NFHA


San Francisco is so expensive that households making over $100,000 a year qualify for low-income housing

Four-person households that make $117,400 a year qualify for low-income housing in San Francisco, according to a new report from Department of Housing and Urban Development (HUD). That's just below the median family income of $118,400. To afford a median-priced home in San Francisco, a family would need to make $333,270 annually. These figures reflect the stark reality of the city's worsening affordable housing crisis. To qualify for low-income housing in San Francisco county or nearby San M...
Tags: Apple, Google, Amazon, New York City, US, San Francisco, Trends, Hud, Seattle, Cupertino, Baltimore, Bay Area, Marin, Phoenix, San Mateo, Department of Housing and Urban Development HUD


June Is National Homeownership Month

June is National Homeownership Month, and the industry is recognizing the importance of homeownership as a milestone of the American Dream. This year’s theme, set by the Department of Housing and Urban Development (HUD), is “Find Your Place.” HUD is one of many agencies that provide resources to help consumers obtain and sustain homeownership. Through its network of housing agencies, consumers can seek out counselors for homeowner education, foreclosure prevention and budgeting assistance. With ...
Tags: News, Radio, Hud, Federal Reserve, Donald Trump, Ben Carson, Latest News, Trump, Freddie Mac, FHA, NAR, Consumer, Real Estate News, Department of Housing and Urban Development HUD, Mendenhall, The National Association of Realtors


Report Finds Housing Discrimination Still a Challenge

On April 11, 1968, the Fair Housing Act was enacted in order to prohibit discriminatory housing practices against protected classes—race, color, religion, sex, familial status or national origin— and was amended in 1968 to include protections for disabled individuals. In April, the Fair Housing Act celebrated its 50th anniversary. While progress has been made and housing groups continue to enforce fair housing laws, 2017 received nearly 30,000 housing discrimination complaints—a small increase f...
Tags: News, Congress, Radio, National, Latest News, NAR, National Association of Realtors, Department of Housing and Urban Development, Real Estate News, Department of Housing and Urban Development HUD, Mendenhall, Fair Housing, Fair Housing Act, Elizabeth Mendenhall, Housing Discrimination, Asian Real Estate Association of America AREAA


Manhattan plans to build a massive $1 billion wall and park to guard against the next inevitable superstorm

Today, more than five years after Hurricane Sandy hit New York City, the five boroughs are still recovering from the storm. Sandy did to NYC, and the rate of development along the city's coastlines has only increased. New York now  has more residents living in high-risk flood zones than any other city in the nation. Local city-planning experts have worried how NYC will cope when the next superstorm inevitably hits the city. So in 2013, the Department of Housing and Urban Development (HUD)...
Tags: New York, NYC, New York City, Trends, Hurricane Sandy, Manhattan, Hud, Big, San Francisco Bay Area, Bjarke Ingels Group, Montgomery Street, Sandy, East River, Department of Housing and Urban Development HUD, MNLA, Community Board


Manhattan is building a massive $1 billion wall and park to guard against the next inevitable superstorm

Today, six years after Hurricane Sandy hit New York City, the five boroughs are still recovering from the storm. Sandy did to NYC, and the rate of development along the city's coastlines has only increased. New York now  has more residents living in high-risk flood zones than any other city in the nation. Local city-planning experts have worried how NYC will cope when the next superstorm inevitably hits the city. So in 2013, the Department of Housing and Urban Development (HUD) held an op...
Tags: New York, NYC, New York City, Trends, Hurricane Sandy, Manhattan, Hud, Big, San Francisco Bay Area, Bjarke Ingels Group, Montgomery Street, Sandy, East River, Department of Housing and Urban Development HUD, MNLA, Jeremy Siegel


New-Home Sales Take Off

March new-home sales took off, up 4 percent to 694,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $369,900, while the median was $337,200. New-home listing inventory was 301,000—5.2-months supply. “The March new-home sales report is consistent with our solid builder confidence readings over the past several months,” said Randy Noel, chairman of the National Association of Home Builders (NAHB), in a statemen...
Tags: News, Radio, West, Hud, National, Zillow, South, Latest News, U S Census Bureau, Census Bureau, Real Estate News, Department of Housing and Urban Development HUD, Buying/Selling, Home Prices, National Association of Home Builders NAHB, Terrazas


Housing Starts Overall Upsurge, While Single-Family Wanes

Home-building in March picked up, with housing starts on a 1.9 percent surge and totaling 1.32 million, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). Single-family starts waned, down 3.7 percent to 867,000. Multifamily starts (five units or more) came in at 439,000. “The modest decline in single-family starts in March is still in line with our solid builder confidence readings and is largely attributable to lingering winter weather that is causing...
Tags: News, Radio, Hud, National, Latest News, NAR, U S Census Bureau, Census Bureau, Real Estate News, Department of Housing and Urban Development HUD, Buying/Selling, National Association of Home Builders NAHB, NAHB, Robert Dietz, Home-Building, Housing Completions


Ben Carson to Hud staff critical of his mission statement: write your own

Staff are being asked to submit their own drafts after the housing secretary’s new version dropped a call to fight discriminationBen Carson has asked staff at his Department of Housing and Urban Development (Hud) to come up with their own mission statement, after his suggestion was sharply criticised for its silence on discrimination.“If inspiration strikes, please consider writing your own mission statement for the department and submit it by replying to this email,” Carson said in a message to...
Tags: US news, Hud, US domestic policy, Ben Carson, Carson, Department of Housing and Urban Development HUD, Trump Administration


Three more lose jobs at Ben Carson’s housing department

Three contractors in the office of Hud’s information chief are out amid a widening ethics controversyThree more people lost their jobs at Ben Carson’s Department of Housing and Urban Development (Hud) on Monday, amid a widening ethics controversy. Related: Senior housing department official loses job after allegations of corruption Continue reading...
Tags: Housing, US news, US politics, Hud, Ben Carson, Department of Housing and Urban Development HUD, Trump Administration


February New-Home Sales Slog

New-home sales again slogged in February, with sales of new, single-family homes down 0.6 percent to 618,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $376,700, while the median was $326,800. New-home listing inventory was 305,000—5.9-months supply. “New-home sales are at a steady level, which is consistent with our measures of solid builder confidence in the housing market,” said Randy Noel, chairman of t...
Tags: News, Radio, Hud, National, Latest News, U S Census Bureau, Census Bureau, Real Estate News, Department of Housing and Urban Development HUD, Buying/Selling, Home Prices, National Association of Home Builders NAHB, NAHB, Robert Dietz, Housing Inventory, New Home Sales


GAO-18-123, Rental Assistance Demonstration: HUD Needs to Take Action to Improve Metrics and Ongoing Oversight, February 20, 2018

What GAO Found The Department of Housing and Urban Development (HUD) put procedures in place to evaluate and monitor the impact of conversion of public housing properties under the Rental...
Tags: Hud, GAO, Department of Housing and Urban Development HUD


Housing Starts Soften

February’s home-building receded, with housing starts softening 7 percent and totaling 1.24 million, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). Notably, single-family starts increased 2.9 percent to 902,000. Multifamily starts (five units or more) came in at 317,000. The decline is a departure from January, when groundbreaking soared some 10 percent. “Some multifamily pullback is expected after an unusually strong January r...
Tags: News, Radio, Hud, National, Latest News, NAR, U S Census Bureau, National Association of Realtors, Census Bureau, Yun, Real Estate News, Department of Housing and Urban Development HUD, Lawrence Yun, Buying/Selling, National Association of Home Builders NAHB, Robert Dietz


Report: HUD Nixes Anti-Discrimination Commitment From Mission Statement

The Department of Housing and Urban Development (HUD) this week removed language from its mission statement declaring that the department is committed to building communities free from discrimination, HuffPost reported Tuesday night.In a March 5 memo obtained by HuffPost, Amy Thompson, the assistant secretary for public affairs at HUS, told political employees that the agency’s mission statement was updated “in an effort to align HUD’s mission with the Secretary’s priorities and that of the Admi...
Tags: News, Hud, Caitlin Macneal, HuffPost, Department of Housing and Urban Development HUD, Hus, HuffPost Amy Thompson


New-Home Sales Skid in January

New-home sales skidded in January, with sales of new, single-family homes down 7.8 percent to 593,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $382,700, while the median was $323,000. New-home listing inventory was 301,000—6.1-months supply. “New-home sales may have come in lower than economists expected, but when we look at the bigger picture, inventory of new homes jumped to 301,000 units—the most since...
Tags: News, Radio, Hud, National, Latest News, U S Census Bureau, Kirchner, Census Bureau, Real Estate News, Department of Housing and Urban Development HUD, Quicken Loans, Buying/Selling, Home Prices, Realtor.com®, Joseph Kirchner, Housing Inventory


Housing Starts Blow by Expectations

Home-building activity blew by expectations in January, with housing starts up 9.7 percent to a rate of 1,326,000, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). Single-family housing starts increased 3.7 percent to 846,000. Starts for units in buildings with five units or more came in at 431,000. Additionally, permits increased 7.4 percent from December to 1,396,000, according to the data. Single-family permits were down 1.7 p...
Tags: News, Radio, Hud, National, Federal Reserve, Latest News, Fed, NAR, U S Census Bureau, National Association of Realtors, Census Bureau, Yun, Real Estate News, Department of Housing and Urban Development HUD, Lawrence Yun, Buying/Selling