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U.S. Department of Housing & Urban Development (HUD)

NRMLA's Northeast Regional Meeting to Focus on HECM

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The National Reverse Mortgage Lenders Association (NRMLA) has announced the agenda for its Northeast Regional Meeting, set for March 18-19 in New York, N.Y. The meeting, dubbed “New HECM, New York,” will focus on improvements to the Home Equity Conversion Mortgage, or HECM, and highlight its use as a key financial planning tool for retirees. In July 2013, the U.S. Department of Housing & Urban Development (HUD) was authorized by Congress to establish additional requirements to improve “the fiscal safety and soundness” of the HECM program.Click to continue

Obama Administration's Housing Scorecard Shows Bright Spots in February

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The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury released the February edition of the Obama Administration's Housing Scorecard. The latest data show progress among key indicators. This Scorecard notes that purchases of new homes rose, foreclosure completions continued their downward trend, and house prices were stable. While there are positive trends in the housing market, officials caution that the economy is still healing from the Great Recession.Click to continue

Hope LoanPort Collaborates With the Lawyers' Committee for Civil Rights Initiatives

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Hope LoanPort (HLP) has announced that they have begun a collaboration with the Lawyers’ Committee for Civil Rights Under Law to share information specific to entities representing consumers in pursuit of a foreclosure alternative. HLP has also become a member of the Loan Modification Scam Prevention Network to assist consumers in avoiding foreclosure rescue fraud.Click to continue

HUD to Inject $120 Million into Funding for Housing for the Disabled

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To help prevent thousands of people with disabilities from experiencing homelessness or unnecessary institutionalization, the U.S. Department of Housing & Urban Development (HUD) has announced the availability of approximately $120 million in funding for state housing agencies to provide long term project-based rental assistance to extremely low-income persons with disabilities, many of whom are transitioning out of institutional settings or are at high risk of homelessness.   Click to continue

Mother Nature Laying the Smack Down on the U.S. Housing Market

For Sale Sign in the Snow

Here in the northeast, we’ve been having quite a hellacious winter. It seems to snow every week, which, of course, impacts just about every single aspect of life. The more obvious impacts on an individual’s life with a major snowfall include being given time off from work or working from home, limiting productivity, home renovations, planning and more.Click to continue

New Home Sales Up 16.4 Percent Year-Over-Year

For Sale Kid Credit: Jupiterimages

Sales of newly built, single-family homes fell seven percent to a seasonally adjusted annual rate of 414,000 units in December, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Despite the monthly drop, home sales in 2013 were up 16.4 percent over the previous year.Click to continue

Public Housing Authorities Receive $57 Million in HUD Support

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The U.S. Department of Housing & Urban Development (HUD) awarded nearly $57 million in grants to help residents receiving housing assistance through the Housing Choice Voucher Program to gain access to education, job training and employment. HUD’s Housing Choice Voucher Family Self-Sufficiency Program (HCV-FSS) helps public housing authorities across the country to hire or retain more than one thousand service coordinators who will work directly with families to connect them to the supportive services that meet their individual needs and to become gainfully employed.Click to continue

New-Home Sales Finishing 2013 on a High Note

Home_Sold/Copyright: Matt Egginton

Sales of newly built, single-family homes declined 2.1 percent to a seasonally adjusted annual rate of 464,000 units in November from an upwardly revised strong pace of 474,000 units in the previous month, according to data released today by the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Except for October 2013, this is the strongest sales pace since July of 2008.Click to continue

FHA Still Not Out of the Red: Mutual Mortgage Insurance Fund Gains $15 Billion Over Last Year

House Atop Money/Credit: Creatas

The U.S. Department of Housing & Urban Development (HUD) has released its annual report to Congress on the financial condition of the Federal Housing Administration (FHA) Mutual Mortgage Insurance (MMI) Fund. The independent actuarial report shows that FHA’s Mutual Mortgage Insurance Fund (MMIF) has gained $15 billion dollars in value over the last year and now stands at negative $1.3 billion. The current capital ratio is negative 0.11 percent.Click to continue