Skip to main content

HUD Awards $10M in ‘Sweat Equity’ Grants

Phil Hall
Feb 18, 2019
A surge in refinancing helped drive up mortgage applications activity for the week ending Oct. 4, according to data from the Mortgage Bankers Association

The Department of Housing and Urban Development (HUD) awarded $10 million in "sweat equity" grants to support the work of four non-profit organizations that enable homeownership opportunities low-income families and individuals.
 
The grants, which are funded through HUD's Self-Help Homeownership Opportunity Program, were awarded to Grant Amount Housing Assistance Council in Washington, D.C. ($1.2 million), Community Frameworks in Spokane, Wash. ($1.3 million), Tierra Del Sol Housing Corp. in Anthony, N.M. ($2.1 million) and Habitat for Humanity International in Americus, Ga. ($5.3 million).
 
“Advancing economic opportunity for low-income families is a top priority of mine at HUD, and one that the department is carrying out through terrific programs like SHOP,” said HUD Secretary Ben Carson. “These grants, along with the support of our partners, will enable homeownership opportunities for hundreds of deserving families.”

 
Published
Feb 18, 2019
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Tech
Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022