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Shaun Donovan

Senate Banking Committee Approves Castro as Next HUD Head

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The U.S. Senate Banking Committee has approved the nomination of San Antonio Mayor Julian Castro as next head of the U.S. Department of Housing & Urban Development (HUD) by a 16-6 vote on Wednesday.Click to continue

HUD Announces Rebuild by Design Winners

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U.S. Department of Housing & Urban Development (HUD) Secretary Shaun Donovan announced that six design proposals have been selected as winners of HUD’s Rebuild by Design competition. Secretary Donovan was joined by Governor Andrew Cuomo, Senator Charles Schumer, and Mayor Bill deBlasio in New York City at the Jacob Riis Houses on the Lower East Side to announce winning proposals that will benefit New York and New York City. The Riis Houses and surrounding area experienced severe flooding during Hurricane Sandy and will benefit from a winning proposal.Click to continue

HUD and State of NJ to Work on Affordable Housing in Wake of Hurricane Sandy

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The U.S. Department of Housing & Urban Development (HUD) has announced a mutual agreement with the State of New Jersey to build upon affordable housing opportunities for lower income households whose homes were damaged or destroyed by Hurricane Sandy. The settlement agreement announced today will provide a combined $240 million in direct housing assistance to lower income households, reevaluate all denied applications under the State’s disaster housing program, and enhance the State’s outreach efforts for those with limited English proficiency.Click to continue

HUD to Clean Up Housing With $100-Plus Million in Grants

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The U.S. Department of Housing & Urban Development (HUD) is offering $104 million in grants to clean up lead based paint hazards as well as correct other housing-related health and safety hazards in privately owned, low-income housing. The funding offered directs critical funds to cities, counties and states to eliminate dangerous lead paint hazards in thousands of privately-owned, low-income housing units. These funds are provided through HUD’s Lead-Based Paint Hazard Control and Lead Hazard Reduction Demonstration grant programs.Click to continue

Obama to Select Julian Castro for New HUD Head

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Julian Castro, the Mayor of San Antonio, has received official nomination to spearhead the U.S. Department of Housing & Urban Development (HUD) by President Barack Obama. After multiple organizations reported on the potential difficulties surrounding Obama’s decision-making regarding the Mayor of San Antonio potentially taking the reins at HUD, the official word is in. In turn, Shaun Donovan, current head of HUD, will be nominated for the position of head of the Office of Management and Budget (OMB).Click to continue

HUD Announces $40 Million in Grants for Foreclosure Prevention Counseling

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The U.S. Department of Housing & Urban Development (HUD) awarded more than $40 million in grants to hundreds of national, regional and local organizations to help families and individuals with their housing needs and to prevent future foreclosures. HUD’s housing counseling grants, and the additional funding they help to leverage, will assist more than 1.5 million households find housing, make more informed housing choices, or keep their current homes.Click to continue

Latest Monitor Report Shows Green Tree Lacking in Servicing Settlement Compliance

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Joseph A. Smith Jr., Monitor of the National Mortgage Settlement (NMS), has released a summary of six compliance reports he filed with the U.S. District Court for the District of Columbia. This summary details the results of his tests to determine Bank of America, Chase, Citi, Ocwen and Wells Fargo’s compliance with the NMS servicing rules from July 1, 2013 to Dec. 31 2013. This report also contains the test results for Green Tree from Oct. 1, 2013 to Dec. 31, 2013.Click to continue

FHA Releases "Blueprint for Access" to Expand Credit for Underserved Borrowers

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The Federal Housing Administration (FHA) has issued its “Blueprint for Access” outlining the additional steps the agency is taking to expand access to credit for underserved borrowers.  These steps include encouraging a broader use of housing counseling. This week, HUD will publish a notice in the Federal Register for the Homeowners Armed with Knowledge (HAWK) pilot program to further incorporate housing counseling into the home buying process for borrowers using FHA insured financing.Click to continue