In a live-streamed "fireside chat" with Zillow Chief Economist Dr. Stan Humphries, HUD Secretary Julian Castro reiterated that 2015 will be a "year of housing opportunity," reusing a phrase he coined in a National Press Club appearance earlier this month.
Read More »HUD Names Recipients for ‘Choice Neighborhoods’ Grants
Choice Neighborhoods builds on the work of the Neighborhood Revitalization Initiative, a partnership formed in 2009 between HUD, the Department of Education, the Department of Health and Human Services, the Department of Justice, and Treasury.
Read More »HUD Secretary to Talk Housing in ‘Live Fireside Chat’
HUD Secretary Julian Castro will answer questions about a variety of housing topics in a fireside-chat style event on the morning after President Obama's State of the Union speech on Wednesday at the Newseum in Washington, D.C. Castro is expected to discuss such topics as the Obama administration's most recent housing initiatives, responsible homeownership, making the decision to buy or rent, and resources available to first-time homebuyers.
Read More »HUD Secretary Hails ‘Year of Housing Opportunity’
During an hour-long speech at the Press Club in Washington, D.C., HUD Secretary Julian Castro spoke of the economic progress the nation made in 2014, such as experiencing the fastest job growth rate in 15 years, and he addressed HUD's initiatives which are aimed at promoting, increasing, and expanding opportunities for Americans to own a home.
Read More »Republicans Urge Against FHA Premium Reduction
Citing concerns about the Federal Housing Administration's (FHA) low capital reserve ratio and its 2013 bailout, senators Bob Corker (R-Tennessee) and David Vitter (R-Louisiana) are calling on the Obama administration to reconsider its plan to cut FHA's annual mortgage insurance premium by half a percentage point.
Read More »FHA Issues Update on Premium Cuts for In-Process Loans
In a mortgagee letter issued Friday, HUD announced that the reduction in annual premiums—which will bring premiums down to 0.85 percent on most FHA loans—will affect mortgages with case numbers assigned on or after January 26.
Read More »Former HUD Policy Advisor Joins Freddie Mac’s Board
Real estate economist and former HUD policy advisor Raphael W. Bostic has been elected as a director on Freddie Mac's board of governors, according to an announcement from the GSE.
Read More »HUD Secretary to Speak on Housing Plans for 2015
HUD Secretary Julian Castro is scheduled to speak at the National Press Club (NPC) luncheon on January 13 to address the state of the housing industry and what HUD's plans are for 2015, the NPC announced on Tuesday.
Read More »Michigan Lender to Pay $4.2M in Fraud Settlement
Southfield, Michigan-based lender GTL Investments, Inc., recently agreed to pay $4.2 million to settle claims regarding the origination of federally-backed mortgage loans that were not properly underwritten, according to an announcement from U.S. Attorney for the Eastern District of Michigan Barbara McQuade.
Read More »Supreme Court Prepares to Hear Disparate Impact Arguments
The case scheduled to be heard later this month centers on claims that the Texas state housing department's fixed criteria for approving tax credits for low-income housing developers resulted in the approval of such credits for a larger percentage of developers in areas more heavily populated by minorities than in areas more populated by whites.
Read More »