HAMP Survives First Round of Cuts, Two Other Programs Do Not
Republicans proposed cutting four foreclosure relief programs in their new budget (read this coverage here). After all was said and done, two programs ultimately got the axe (or at least are up for...
View ArticleHUD Facing $11 Million in Losses Thanks to Non-Compliant FHA Loans
In a recent review of more than 250 loans from 15 lenders, HUD’s Office of the Inspector General (OIG) determined that 49 percent of those loans were non-compliant with FHA guidelines and were likely...
View ArticleHUD Speaks Out in Defense of HAMP, Foreclosure Prevention
Over the past few weeks Republicans in Congress have led efforts to eliminate four foreclosure alternative and prevention plans, saying that they are doing more harm than good. Many experts agree with...
View ArticleHUD Grants Pennsylvania Emergency Homeowner Loan Funds
While in Congress, legislators take careful aim at relief programs that they believe are not getting the job done, the department of Housing and Urban Development (HUD) is still actively handing out...
View ArticleHUD Affordable Housing Program Under Fire
An affordable housing program (HOME) run by the Department of Housing and Urban Development (HUD) is facing serious scrutiny after a bipartisan group in Congress has alleged that the program is simply...
View ArticleLenders Required to Extend Forbearance to Unemployed
Thanks to “adjustments” to Federal Housing Administration (FHA) requirements, loan servicers dealing with FHA loans must extend the forbearance period for unemployed homeowners to 12 months now[1]....
View ArticleSAFE Mortgage Originator Course in California
In California, in order to originate loans, real estate licensees must get a mortgage loan originator (MLO) license endorsement. This means that they must complete 20 hours of initial education, pass...
View ArticleHUD, Justice Department Bring Pressure to Contrary Attorneys General
If you live in New York, Nevada, Massachusetts or Delaware, then you can rest assured that your attorney general is pretty steamed about the robo-signer crisis. So steamed, in fact, that they are doing...
View ArticleHUD Hopes to Get Housing Counseling Funds Returned
In April of this year, Congress slashed $88 million in HUD nonprofit counseling funds for 2011[1]. Fortunately, HUD had at least $10 million “left over” and unspent from 2010, and they used this to...
View ArticleHUD Alleges Improper Short Sale Documentation by CitiMortgage
In a recent report the Office of the Inspector General (OIG) at the department of Housing and Urban Development (HUD) accuses Citimortgage Inc. has violated the Federal Housing Administration (FHA)’s...
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