Skip to main content

HUD’s Dr. Carson Outlines New Policy Focus

Phil Hall
Oct 12, 2017
U.S. Department of Housing & Urban Development (HUD) Secretary Dr. Ben Carson has a message for the mortgage industry: The Department does not want to be seen as a trigger-happy enforcer.

U.S. Department of Housing & Urban Development (HUD) Secretary Dr. Ben Carson unveiled the Trump Administration’s housing policy shift in an endeavor dubbed the FORWARD initiative.
Speaking today before the House Financial Services Committee, Dr. Carson explained the initiative could be defined by three R’s: Reimagine How HUD Works, Restore the American Dream, and Rethink American Communities.
“We must constantly evaluate our programs to ensure that we are delivering services effectively and efficiently to HUD’s constituents, and responding to today’s challenges with the best practices and technologies,” Dr. Carson said in a prepared statement delivered before the committee. “Since I arrived at HUD in March, it has been my mission to employ the wealth of institutional knowledge held by career staff to improve our services, reform our programs to reflect realities of modern society, and remain careful stewards of taxpayer dollars.”
While not offering specific details on how this initiative would achieve these goals—or, for that matter, explaining why “FORWARD” was being presented entirely in upper-case letters—Dr. Carson signaled several changes that HUD would undertake, including what he identified as “revisiting the Federal Housing Administration’s (FHA’s) condominium rules to consider opening up assistance to more first-time homebuyers” and an effort to “modernize FHA’s systems and programs to reduce risk and ensure that they will be available for future generations.” Dr. Carson also outlined an expansion of public-private partnerships and an increased engagement with nonprofits, including religious institutions, which he said “produces better results than heavy-handed government interventions.”
Citing his medical background, Dr. Carson also promised that he would make a “special priority to help more American families live in healthy homes free of lead hazards and other poisonous substances.” Furthermore, he cited the recent damage brought by back-to-back hurricanes in having HUD support FEMA in assisting households in impacted areas.
“In addition, we are providing FHA mortgage insurance to people who have lost their homes,” he added. “Some will be eligible for 100 percent financing through HUD’s Section 203(h) program. HUD has also granted a 90-day moratorium on foreclosures, and a 90-day forbearance on foreclosures of FHA-insured mortgages.”

Oct 12, 2017
Crime Stories From The Trenches

Bad brokers, renegade Realtors, treacherous title agents. It’s getting tough out there.

Regulation and Compliance
Oct 26, 2021
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021