Keyword: HUD
Judge orders injunction against HUD in Allied Home Mortgage case
Rare case between HUD and lender Allied Home Mortgage Corporation was recently slapped with a mortgage fraud lawsuit filed by the U.S. Department of Housing and Urban Development (HUD) which immediately suspended Allied’s ability to originate Federal Housing Administration (FHA) insured mortgages which was the majority of their business. Allied argued that they had not been found guilty of anything ...
HUD sues Allied Mortgage, gets sued back for overstepping their bounds
HUD sues Allied Mortgage On November 1st, the U.S. Department of Housing and Urban Development (HUD) alleged that Allied Home Mortgage Corporation was participating in fraudulent lending practices, suspending their ability to write home loans insured by Federal Housing Authority (FHA). HUD is suing Allied in federal court, alleging that one third of Allied loans made between 2001 and 2010 ...
Landlord refuses to rent to women, claims they need a man to shovel the snow
Landlord claims single mothers are the scourge of society Wisconsin homeowner and property manager, Darlene Dovenberg has been charged by the U.S. Department of Housing and Urban Development (HUD) for refusing to rent a home to a single mother on the grounds that the renter didn’t have a man “to shovel snow and stuff.” Subsequently, Dovenberg rented the unit to ...
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Homeownership advocates suing HUD and criticizing Obama
HUD and Obama under fire The Neighborhood Assistance Corporation of America (NACA), who claims to be the largest homeownership organization in America is criticizing President Obama and the U.S. Department of Housing and Urban Development claiming both have been ineffective in helping the American homeowners. NACA said it has joined homeowners with government backed loans to file a lawsuit against ...
The new GFE and HUD-1 six months in – has civilization ended?
Did GFE and HUD-1 changes end the world? In January, people from title companies and mortgage companies were fanning out across the land to spread the word far and wide that the new Good Faith Estimate and new HUD-1 were the harbinger of the fall of civilization. Confusing to the professionals, it would surely put home buyers at a major ...
HUD puts $113 million toward revitalizing six urban areas
HUD awards $113.6 million The U.S. Housing and Urban Development (HUD) announced today that six public housing authorities will be awarded $113.6 million to revitalized “distressed public housing developments in their cities into mixed-income communities.” Several cities submitted revitalization plans to HUD for the HOPE VI Program, with the six winning cities focused on innovative revitalization plans, including early childhood ...
Lead-Based Paint Can Kill Children, HUD Puts $13M Toward Problem
HUD Funding $13M Today, the U.S. Department of Housing and Urban Development (HUD) is giving 25 local grants totalling $13 million for projects to eliminate lead and housing-related hazards in thousands of homes across America. According to HUD, the money will go toward “training workers in lead and healthy homes interventions; supporting research to improve home safety efforts; increasing public ...
HUD and Treasury Vow to Help Stabilize Real Estate Market
HUD & Treasury to help foreclosure market? In 2009, foreclosure rates shattered records a the number of homes that received foreclosure notices hit 2.8 million, up 21% from 2008 and up 120% from 2007 according to RealtyTrac‘s recent foreclosure data. Foreclosures are clearly on the rise and various signs point to this trend continuing. In response to what some call ...
Join the Committme.
What do you do when you feel you’ve had enough? Do I really need to publish the links again? Unless you’re on a remote desert island with no internet access or an agent who really doesn’t care much about your future, you know what links I’m talking about. Oh alright, one more time and then I swear I won’t like ...
Is HUD Really Going To Do Tax Credit Bridge Loans?
Pam Kabati, VP and Editorial Director at NAR, Twittered that Realtor Magazine Online has a update on the HUD Bridge Loan Credit. Here is what Realtor Magazine Online, has to say: Buyer Tax Credit Loan Guidance Coming Soon Detailed guidance on the federal government’s plan to provide short-term loans to borrowers using the First-Time Homebuyer Tax Credit is expected to ...
Your Word is Golden…or not
On Tuesday morning I woke up and read a Tweet on Shaun Donovan, Secretary of HUD, announcing that first time buyers could now access their $8000.00 tax credit in the form of a bridge loan and use it towards their down payment on the house they were buying. I went to NAR press release and read the posted the comment ...
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