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Shaun Donovan

Mortgage Settlement Pays Out Nearly $45 Billion Nationwide to Date

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The nation’s largest mortgage servicers have distributed $45.83 billion in direct relief to over 550,000 homeowners, or roughly $82,000 per homeowner as part of the National Mortgage Settlement, according to a progress report released by independent settlement monitor Joseph A. Smith of the Office of Mortgage Settlement Oversight.Click to continue

FHA to Speed Up Approval Process of NY and NJ Victims of Superstorm Sandy

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U.S. Housing and Urban Development Secretary Shaun Donovan, who also chairs President Obama’s Hurricane Sandy Rebuilding Task Force, has announced that the Federal Housing Administration (FHA) will speed the approval of applications of multifamily apartment owners in New York and New Jersey seeking to refinance their mortgages, substantially rehabilitate their properties or construct new developments in areas impacted by Hurricane Sandy.Click to continue

HUD Issues Rule Formalizing Standard on Discriminatory Effects in Housing

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The U.S. Department of Housing & Urban Development (HUD) has announced that it is issuing a final rule to formalize the national standard for determining whether a housing practice violates the Fair Housing Act as the result of discriminatory effect. “Through the issuance of this Rule, HUD is reaffirming its commitment to enforcing the Fair Housing Act in a consistent and uniform manner,” said HUD Secretary Shaun Donovan. “This will ensure the continued strength of one of the most important tools for exposing and ending housing discrimination.”Click to continue

Joint Efforts From Federal Agencies Aim to Improve Housing Quality

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Several federal agencies today unveiled Advancing Healthy Housing – A Strategy for Action. White House Council on Environmental Quality (CEQ) Chair Nancy Sutley, Environmental Protection Agency (EPA) Administrator Lisa P. Jackson, Secretary of Housing and Urban Development (HUD) Shaun Donovan, Surgeon General Regina Benjamin, M.D., and Deputy Secretary of Energy Daniel Poneman discussed the new plan during an event at the National Building Museum this morning.Click to continue

Extended Foreclosure Relief Provided to Victims of Hurricane Sandy

Huricane_Sandy/Credit: Comstock

U.S. Department of Housing & Urban Development (HUD)Secretary Shaun Donovan, who serves as President Obama’s Chairman of the Hurricane Sandy Rebuilding Task Force, and Federal Housing Finance Agency Acting Director Edward J. DeMarco have announced that the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac will extend expiring protections against foreclosure actions against homeowners whose properties were damaged or destroyed due to Hurricane Sandy.Click to continue

Kentucky AG Files Suit Against MERS in Foreclosure Investigation

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Kentucky Attorney General Jack Conway announced that his office filed a lawsuit in Franklin Circuit Court against MERSCORP Holdings, Inc., and its wholly-owned subsidiary Mortgage Electronic Registration Systems Inc. (MERS) for violations of Kentucky law. The lawsuit is a result of General Conway's investigation of mortgage foreclosure issues in Kentucky. The suit alleges that MERS violated Kentucky law by not recording mortgage assignments with County Clerks when mortgages were sold or transferred from one bank to another.Click to continue

HUD Cuts Red Tape to Assist Displaced Storm Victims

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To expand housing options for families displaced by Hurricane Sandy, the U.S. Department of Housing & Urban Development (HUD) announced that it is giving public housing agencies greater flexibility in calculating rent payments in areas experiencing increased demand for rental housing.Click to continue

Nationwide Servicer Settlement Assists 300,000-Plus Borrowers to Date

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The nation’s largest mortgage servicers have distributed $26.1 billion in direct relief to nearly 310,000 homeowners, or roughly $84,385 per homeowner as part of the National Mortgage Settlement, according to a progress report, "Continued Progress: A Report From the Monitor of the National Mortgage Settlement," released by independent settlement monitor Joseph A. Smith Jr. of the Office of Mortgage Settlement Oversight. Earlier this year, the U.S. Department of Justice, U.S.Click to continue