HUD

Mortgagee Review Board proposes to permanently withdraw FHA approval from Financial Mortgage USA

October 30, 2009 -- WASHINGTON - The U.S. Department of Housing and Urban Development today announced that its Mortgagee Review Board (MRB) is proposing to permanently withdraw the HUD/FHA approval of Financial Mortgage USA, Inc., a Home Equity Conversion Mortgage (HECM or reverse mortgage) lender based in Honolulu, Hawaii.

HUD's MRB alleges the Company failed to implement an FHA-required quality control plan; separate its lending operations from those of its affiliated insurance company; conform to prudent lending practices; and properly provide borrowers with housing counseling services.    » read more »

October 29, 2009 -- WASHINGTON, DC – Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan called on Congress to approve three important measures to improve housing and the housing market for Americans: extension of the First Time Homebuyers Tax Credit for a limited period, extension of higher loan limits for home mortgages, and secure funding for the Housing Trust Fund.    » read more »

October 15, 2009 -- WASHINGTON, D.C. – Today, Congressman John W. Olver (D-1st District) announced that Nuestras Raíces, Inc. in Holyoke will receive $540,000 in grant funds over the next 3 years from the U.S. Department of Health and Human Services, Office of Community Services.    » read more »

10/16/09 -- WASHINGTON - Congresswomen Nita Lowey (D-Westchester/Rockland) today announced that organizations in Westchester and Rockland Counties will receive tens of thousands in federal funding to support a variety of housing and homeownership services, and the City of White Plains will receive more than $900,000 in Community Development Block Grants (CDBG) from the U.S. Department of Housing and Urban Development (HUD).

“The housing crisis is especially severe in the New York metropolitan area where the cost of living is so high and affordable housing opportunities are so difficult to find,” said Lowey. “I am pleased this federal funding will support community organizations’ efforts to help those in need of housing assistance.”    » read more »

Obama Administration Announces $60 Million In Housing Counseling Grants To Nearly 500 National, State And Local Agencies

October 14, 2009 -- WASHINGTON – Hundreds of thousands of American families will have a greater opportunity to find housing or keep the homes they have because of $60 million in housing counseling and counseling training grants announced today by U.S. Housing and Urban Development Secretary Shaun Donovan.

Housing counseling grants will assist families in becoming first-time homeowners and remaining homeowners after their purchase. HUD-approved counseling agencies not only provide homeownership counseling, but also offer financial literacy training to renters and homeless individuals and families.    » read more »

Section 3 designed to stimulate employment and economic development in local communities

October 14, 2009 -- WASHINGTON - The U.S. Department of Housing and Urban Development today launched a new campaign to increase hiring of low-income individuals and public housing residents by state and local governments that receive HUD funds.

HUD is contacting more than 3,000 state and local agencies, including public housing authorities, to document their efforts to hire low-income individuals and to contract with companies who hire them. Agencies that fail to comply may be debarred, suspended, or denied participation in HUD programs.    » read more »

October 12, 2009 -- (Orlando, Fla.) – Congressman Alan Grayson, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan, and Mayor Buddy Dyer toured a neighborhood and highlighted two successful programs helping resolve the problems of foreclosure and slumping property values today in Orlando.

Congressman Grayson said, "A home is not only a roof over your head. It creates jobs for plumbers, carpenters and real estate agents; it's an investment and a savings account; and a paid-off mortgage means security for senior citizens. That's why we are trying to so hard to revive housing in Central Florida."    » read more »

October 9, 2009 -- Congressman Brian Higgins (NY-27) announced that the U.S. Department of Housing and Urban Development (HUD) has awarded Chautauqua County with a grant totaling $2,641,354. The funds are provided through HUD’s Lead Hazard Control Program.

“The same older housing stock that contributes to Chautauqua County’s character also adds to the risk factor for lead poisoning,” said Congressman Higgins. “This sizeable grant will support education and prevention to reduce this risk and keep our children and neighborhoods safe.”    » read more »

Grants will help create jobs and strengthen communities throughout Louisiana.

09/28/2009 -- WASHINGTON -- United States Senator Mary L. Landrieu, D-La., and U.S. Representative Charlie Melancon, D-La-03, today announced that the Department of Housing and Urban Development (HUD) has awarded $9.9 million in grants to communities throughout Louisiana, and an additional $7.47 million to the State of Louisiana.    » read more »

September 17, 2009 -- WASHINGTON – This morning, Treasury Secretary Tim Geithner hosted Attorney General Eric Holder, Housing and Urban Development (HUD) Secretary Shaun Donovan, Federal Trade Commission (FTC) Chairman Jon Leibowitz, Financial Crimes Enforcement Network (FinCEN) Director Jim Freis and attorneys general from 12 states to discuss emerging trends and proactive strategies to combat fraud against consumers in the housing markets as well as best practices to bolster coordination across state and federal agencies.

This meeting follows up on an announcement by the Obama Administration in April of a multi-agency crackdown on foreclosure rescue scams and loan modification fraud designed to protect homeowners from predatory financial practices.    » read more »

Technical experts will help communities better manage backlog of foreclosed homes

August 26, 2009 --
WASHINGTON - U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced HUD is launching a $50 million effort to help state and local governments address the inventory of foreclosed properties assisted under the Department's Neighborhood Stabilization Program (NSP). HUD is awarding $44.5 million to nine national organizations and another $5.5 million to help local communities purchase, rehabilitate and resell foreclosed properties in especially hard-hit neighborhoods.    » read more »

Grants bring total HUD's Recovery Act investment in Native American and Alaskan communities to over a half billion dollars

August 25, 2009 -- WASHINGTON - U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced that HUD is awarding five grants, totaling $2.5 million, to Native American and Native Alaskan communities across the country to improve housing and stimulate community development (see below for detailed grant list).

The Indian Community Development Block Grant (ICDBG) funds being awarded today are provided through the American Recovery and Reinvestment Act (Recovery Act). These grants will help Native American tribes improve the quality of their housing stock, develop viable communities, promote energy efficiency and create jobs.    » read more »

HUD Secretary announces eligibility for borrowers up to 125% underwater in Las Vegas with Senate Majority Leader Harry Reid and Congresswoman Dina Titus

July 1, 2009 -- WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced an expansion of the Obama Administration's Home Affordable Refinance Program to include participation by borrowers who are current but up to 125 percent underwater on their mortgage.

Under authorization provided by the Federal Housing Finance Agency, borrowers whose mortgages are currently owned or guaranteed by Fannie Mae and Freddie Mac will now be allowed to refinance those loans according to the terms of the Home Affordable Refinance program established earlier this year.    » read more »

Web tool will increase transparency, keep public informed and involved in Recovery Act spending

WASHINGTON – June 22, 2009. Today, HUD announced that it is joining USDA's geospatial project by uploading HUD Recovery Act data into USDA's cutting edge web tool, which will allow Americans to learn how and where HUD is spending money provided through the American Recovery and Reinvestment Act of 2009 (Recovery Act).

USDA developed the tool and launched it on the 100th day of the Obama Administration. Since USDA launched the tool, there have had more than 1 and a half million hits.    » read more »

June 19, 2009 -- WASHINGTON - Sandra Brooks Henriquez was sworn in today as the Assistant Secretary for the Office of Public and Indian Housing (PIH) at the U.S. Department of Housing and Urban Development. Henriquez will oversee the nation's public housing and rental assistance programs that assist approximately 3.2 million low-income families across the U.S. She will also be responsible for HUD's Native American and Native Hawaiian programs, which serves 562 federally recognized tribes.    » read more »