Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $118 on each loan they originated in the first quarter of 2018, down from a reported gain of $237 per loan in the fourth quarter of 2017, according to Mortgage Bankers Association (MBA).
That’s only the second time since MBA began tracking performance in 2008 in which Independent mortgage banks and mortgage subsidiaries of chartered banks reported a quarterly loss.
What else did the report show? Read on to find out.
It’s been 50 years since the Fair Housing Act (FHA) was passed to prevent discrimination against persons with disabilities.
However, a pair of Syracuse, N.Y., property owners are accused of refusing to allow a woman with mental disabilities to keep an assistance animal.
Read on to learn details about HUD’s recent complaint detailing how Nolo Contendere LLC and its agents allegedly violated the FHA.
The U.S. Department of Housing and Urban Development, Office of Inspector General (OIG) reported that nearly $2 billion of Federal Housing Administration-insured loans from 2016 were not eligible for insurance because they were made to borrowers with delinquent federal debt or who were subject to federal administrative offset for delinquent child support.
The OIG found that lenders used faulty sources of information to check databases before making the loans.
Read on for more from the audit, including recommendations for the future.
Last month, 37 law firms were recognized by the chief judges of the U.S. Courts of the D.C. Circuit for their leadership in pro bono service.
The event honors law firms at which at least 40 percent of all attorneys dedicated 50 or more hours in 2017 to providing free legal representation to individuals with limited financial resources or to charitable organizations. The 37 firms honored are a record.
Read on for details and names of the firms.
Citing administrative burdens of public housing authorities (PHAs), the Department of Housing and Urban Development (HUD) has proposed reforms to the agency’s rental assistance programs.
PHAs and landlords participating in HUD’s rental assistance programs must currently navigate a complex set of rules to properly calculate a household’s rent contribution, HUD said in a press release announcing the reforms.
An analysis by the Center on Budget and Policy Priorities found that the proposal would triple the minimum rent on the poorest households getting assistance, totaling about 712,000 households nationwide. Read on for more from HUD’s proposals.
An annual audit of operations and budgeting at the Consumer Financial Protection Bureau (CFPB) recently was released, with auditors KPMG LLP discovering one deficiency related to the bureau’s closing out of undelivered orders.
The audit looked into three areas, including the budget process, the CFPB’s monitoring of its interagency agreement with the Bureau of Fiscal Service-Administrative Resource Center and its corrective actions on last year’s reported deficiency.
Read on for details of the deficiency and recommendations included in the auditor’s report.
In conjunction with events surrounding the 50th anniversary of the Fair Housing Act, the Department of Housing and Urban Development (HUD) said it worked with the Department of Justice to announce a nationwide rollout of initiatives to increase awareness and reporting of sexual harassment in housing.
“All discrimination stains the very fabric of our nation, but HUD is especially focused on protecting the right of everyone to feel safe and secure in their homes, free from unwanted sexual harassment,” HUD Secretary Ben Carson said in a press release.
Read on for more details of the announcement and initiatives slated to roll out.
Fifty years after the signing of the Fair Housing Act, the Department of Housing and Urban Development (HUD) has declared April as Fair Housing Month and will remember the anniversary with a signing April 11 in Washington.
HUD Secretary Ben Carson said the Fair Housing Act remains a centerpiece of the work HUD is doing to ensure fair, inclusive housing, free from discrimination for all Americans.
Read on for more about the anniversary.
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