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

HUD Inspector General finds that 2/3rds of borrowers did not receive loss-mitigation assistance.

Accuses them of tricking people of Caribbean heritage to forfeit title to their homes.

Legal expert questions whether agency has authority to implement the program.

Sales of new single-family homes rose 4.1% in April from March, and are up nearly 12% YOY.

Increase 2.2% from March, but number of units under construction not enough to fill inventory void.

Northeast saw a massive 171% spike in sales as buyers turn to newly constructed homes.