The U.S. Department of Housing and Urban Development (HUD) is seeking public input on how the agency can maximize the beneficial impact of Opportunity Zones for residents and their communities.
The request for information (RFI) will allow the public to share existing knowledge and provide recommendations to HUD regarding the use of public and private investments in urban and economically distressed communities, including qualified Opportunity Zones.
Read on for details of the RFI.
Hispanics are driving homeownership growth in America, according to a new report that measures the impact of language and culture in home purchase transactions.
The Hispanic Wealth Project, in collaboration with the National Association of Hispanic Real Estate Professionals, recently released the annual 2019 State of Hispanic Wealth Report.
Read on for details from the report, which also found three straight years of income growth and record low Hispanic poverty rates.
A Cook County, Ill., couple committed fraud by illegally accepting housing assistance to rent a property they jointly owned, according to a complaint filed by the U.S. Department of Housing and Urban Development (HUD).
The couple enacted a scheme in which one of them posed as a landlord to “lease” the home from the other party while seeking rental assistance from the local housing authority.
Read on for details from HUD’s complaint.
Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger is the new chairwoman of the Federal Financial Institutions Examination Council (FFIEC).
Kraninger succeeds Jelena McWilliams, who chairs the Federal Deposit Insurance Corporation (FDIC), for a five-year term ending March 31, 2021.
Read on to learn how Kraninger views the FFIEC post, which marks the first time since the CFPB was launched that its turn to be chairman came up.
Since 2013, financial institutions have reported to the federal government more than 180,000 possible crimes targeting older adults, involving more than $6 billion.
In an effort to prevent elder financial exploitation and to punish wrongdoers, the Consumer Financial Protection Bureau (CFPB) analyzed these suspicious activity reports (SARs) filed with the Financial Crimes Enforcement Network.
Read on for highlights from the CFPB’s first public analysis of elder financial exploitation SARs.
Former National Association of Realtors (NAR) economist Mark Calabria has been confirmed as the next director of the Federal Housing Finance Agency (FHFA).
The Senate voted 52-44 Thursday to confirm Calabria, who once oversaw HUD's regulation of the mortgage market under RESPA. Calabria said he supports ending the conservatorship of Fannie Mae and Freddie Mac.
Read on to see what NAR President John Smaby said of the confirmation.
The U.S. Department of Housing and Urban Development (HUD) is the latest entity to sue Facebook over its advertising platform.
HUD alleges that Facebook violated the Fair Housing Act by unlawfully discriminating based on race, color, national origin, religion, familial status, sex and disability by restricting who can view housing-related ads on Facebook’s platforms and across the internet.
Read on for reaction from HUD Secretary Ben Carson and Facebook.
The U.S. Department of Labor’s attempt to issue final association plan regulations has been struck down, but the National Association of Realtors (NAR) isn’t giving up yet on providing high-quality, lower-cost coverage alternatives to all its members.
The regulations became effective Jan. 1 and enabled member-based groups to offer comprehensive health coverage to millions of employees and self-employed people at an affordable price.
Read on for more details from NAR President John Smaby.
Twenty-two states attorney generals have asked the Consumer Financial Protection Bureau to reconsider and rescind its proposed policy on no-action letters and the plan to establish a regulatory sandbox to guard entities from liability.
The attorneys general recently wrote a joint letter to CFPB Director Kathy Kraninger, in response to the bureau’s request for public comment to revise the 2016 policy.
Read on for details from the letter.
To service or not to service, that is the question.
And the answer?
Lenders need to strike a balance in their servicing and origination strategies, according to a new report from industry advisory firm Stratmor Group, which studied whether banks and independent lenders need to retain more – or less – servicing.
Read on for tips from Stratmor Principal Seth Sprague, who addressed mortgage bankers’ biggest concerns in today’s evolving servicing environment.
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