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

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

New Job Creation Spurs Sales of Newly-Built Homes to Six-Year High

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Sales of newly built, single-family homes rose 18.6 percent to a seasonally adjusted annual rate of 504,000 units in May, according to newly released data by the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau, to its highest point since May 2008.Click to continue

HUD Fines Philly Firm for Fair Housing Act Violations

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The U.S. Department of Housing & Urban Development (HUD) has announced that Brotman Enterprise LLC, a Philadelphia-area real estate company, will pay $25,000 as part of a Conciliation Agreement resolving allegations that its agents discriminated against African-American prospective renters.Click to continue

HUD Decision Abandons Relief for Non-Borrowing Surviving Spouses

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When a company like Bank of America causes a problem or harms individuals, resulting in a loss of equity, they typically get in trouble. If General Motors Company (GMC) releases a truck with faulty brakes, whether those brakes were farmed out to a third-party or not, GMC recalls the vehicle and gets in front of the issue. If these cases typically run true, then why hasn’t the U.S. Department of Housing & Urban Development (HUD) come under fire for harming elderly individuals who have taken part in a reverse mortgage?Click to continue

Next on the Regulatory Chopping Block ... Small- to Mid-Sized Lenders

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While we’re all accustomed to news that the big four banks (JPMorgan Chase, Citibank, Wells Fargo and Bank of America) getting into hot water over shady mortgage practices, get ready for a new trend—small- to mid-sized banks being targeted for the same concerns. Recently, a Wall Street Journal article cited the Justice Department, in tandem with the U.S. Department of Housing & Urban Development (HUD) beginning investigations into smaller banks like SunTrust, Fifth Third Bancorp and Capital One.Click to continue

There's a Doctor in the House at the Round Rock, Texas GSF Location

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GSF Mortgage has added Dr. Raymond Larson as branch manager in the firm's Round Rock, Texas branch. Dr. Larson brings more than 20 years of mortgage industry experience to GSF. He received his bachelor’s degree in business, history and theology from Vanguard University of Southern California. He went on to receive his Master’s degree in Marketplace Ministry from Phoenix University of Theology. He became Dr. Larson after receiving his doctorate in Marketplace Ministry.Click to continue

Alternative Accesibility Standards Okay'd by HUD

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The U.S. Department of Housing & Urban Development (HUD) has announced that it is permitting developers of federally funded construction projects to use an alternative design standard to meet the accessibility requirements under Section 504 of the Rehabilitation Act of 1973. With a few exceptions, developers may use the Americans with Disabilities Act (ADA) 2010 Standards (2010 Standards) for accessible design as an alternative to the Uniform Federal Accessibility Standards (UFAS) when undertaking new construction or alterations to existing structures on or after May 23, 2014.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