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This Week in Washington

PHAs receive $24.7M to support affordable housing for persons with disabilities

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This Week in Washington
Monday, January 9, 2023

Public housing authorities (PHAs) received $24.7 million to aid in providing affordable housing and community support for non-elderly people with disabilities. The award will help 98 local PHAs house 2,210 additional families and support community integrations to support residents.

The funds were provided through the U.S. Department of Housing and Urban Development’s (HUD) Section 8 Mainstream Housing Choice Voucher Program. The program offers funding to support non-elderly persons with disabilities who are transitioning out of institutional or other isolated settings. These people are at serious risk of institutionalization or becoming homeless.

“People with disabilities deserve access to affordable housing that meets their needs,” HUD Secretary Marcia Fudge said in a release. “Today’s funding is an important step forward - one that will help more persons with disabilities serve as fully integrated members of their communities and allow them to live independently and with dignity.”

PHAs work with partners such as Centers for Independent Living, state protection and advocacy agencies, Medicaid agencies, and Continuums of Care to address the increasing challenges with mainstream leasing. HUD awarded new vouchers and extraordinary administrative fees. To improve the processes of 88 PHAs, $5 million of extraordinary administrative fees has been allotted to support housing search and leasing to eligible applicants. The monies can also be used to ease costs related to the retention, recruitment, and support of participating owners.

Today's other top stories
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FHFA director talks affordable housing at NAR forum
HUD 2024 budget supports underserved communities, housing initiatives
Hispanic homeownership continues to rise
NAHB welcomes NRP Group executive as AHG chair


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12 USC Section 2605 or Section 6 is titled Servicing of mortgage loans and administration of escrow accounts. It pertains to qualified written requests, notices of transfer of servicing and the administration of escrow accounts.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
12 USC Section 2609 or Section 10 is titled Limitation on requirement of advance deposits in escrow accounts. It governs escrow accounts including notifications and statements to borrowers. Section 10 also sets out penalties for those who violate the section.
RESPA Section 3 provides that a thing of value includes any payment, advance, funds, loan, service or other consideration

Regulation X says thing of value includes: monies, things, discounts, salaries, commissions, fees, duplicate payments of a charge, stock, dividends, distributions of partnership profits, franchise royalties, credits representing monies that may be paid at a future date, the opportunity to participate in a money-making program, retained or increased earnings, increased equity in a parent or subsidiary entity, special bank deposits or accounts, special or unusual banking terms, services of all types at special or free rates, sales or rentals at special prices or rates, lease or rental payments based in whole or in part on the amount of business referred, trips and payment of another person’s expenses or reduction in credit against an existing obligation.
A form used by a settlement or closing agent itemizing all charges imposed on a borrower and seller in a real estate transaction. This form represents the closing transaction and provides each party with a complete list of incoming and outgoing funds. RESPA requires the HUD-1 to be used as the standard real estate settlement form in all transactions in the U.S. involving federally related mortgage loans.
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