News

WASHINGTON, DC - May 3, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today awarded more than $56 million to 76 tribal communities throughout the nation to improve housing conditions, promote community development and to spur local economies with construction projects and jobs.

DENVER WASHINGTON, D.C. The U.S. Department of Housing and Urban Development (HUD) today announced a commitment to insure a mortgage loan to Valley Citizen’s Foundation for Health Care, Inc. which is doing business as Rio Grande Hospital in Del Norte, Colorado. It is estimated the refinanced debt will save the hospital more than $168,000 a year in principal and interest and more than $1.6 million over the life of the loan

WASHINGTON, DC - April 20, 2012 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Hawaii and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding and landslides last month.

WASHINGTON, DC - April 19, 2012 - (RealEstateRama) -- Maurice Jones was sworn in today as the Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD). Jones was confirmed by the U.S. Senate on March 29, 2012. As the second most senior official at HUD, Jones will be charged with managing the Department's day-to-day operations, a nearly $47 billion annual operating budget, and the agency's 8,900 employees.

WASHINGTON, DC - April 17, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced the indefinite debarment of three South Florida mortgage loan officers and a Pittsburgh title agent following their criminal convictions on charges they defrauded elderly borrowers, mortgage lenders and the Federal Housing Administration (FHA). Marcos Echevarria, Louis Gendason, John Incandela and Kimberly Mackey pled guilty to charges of conspiracy to commit wire fraud for their part in a $2.5 million nation-wide reverse mortgage scam. All four individuals are currently serving prison terms.

PITTSBURGH - April 11, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today awarded $2,480,000 million in grants to 198 housing units in Lawrence County to conduct a wide range of activities intended to protect ch...

WASHINGTON, DC - April 9, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the March edition of the Obama Administration’s Housing Scorecard – a comprehensive report on the nation’s housing market. Data in the March Housing Scorecard show some promising signs of stability, though the overall outlook remains mixed. Mortgage delinquencies continued a downward trend and were substantially below year ago levels, while sales of existing homes in January and February marked the strongest start to a year since 2007.

WASHINGTON, DC - April 6, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development announced today that it has signed a $3.7 million agreement with the city of Long Beach, CA, that will help to create job opportunities for low-income residents and contracting opportunities for the businesses that hire them. The agreement was reached after a HUD review determined that the city’s Section 3 implementation plan was inadequate.

WASHINGTON, DC - April 5, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development announced today that it has reached settlement agreements with Magna Bank in Nashville, TN, and Home Loan Center, Inc., in Irvine, CA, resolving allegations that the two lenders denied mortgage loans to women because they were pregnant and temporarily on maternity leave. HUD is announcing the discrimination settlements as part of its annual Fair Housing Month commemoration kick-off.

WASHINGTON, DC - March 29, 2012 - (RealEstateRama) -- Today, the U.S. Department of Housing and Urban Development announced that more than 1,200 extremely low-income persons living with HIV/AIDS will continue to receive permanent housing as a result of nearly $33 million in grants HUD is awarding. Annually, these grants will provide permanent supportive housing for over 1,200 households so they can manage their health and access needed supportive services such as case management and employment training.

WASHINGTON, DC - March 27, 2012 - (RealEstateRama) -- U.S. Housing and Urban Development Secretary Shaun Donovan and U.S. Department of Veterans Affairs Secretary Eric K. Shinseki announced today that HUD will provide $72.6 million to public housing agencies in all 50 states and the District of Columbia to supply permanent housing and case management for more than 10,000 homeless veterans.

WASHINGTON, DC - March 26, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development’s Mortgagee Review Board (MRB) today announced that it is immediately and permanently withdrawing approval for AmericaHomeKey, Inc. (AHK)to originate and underwrite new mortgages insured by the Federal Housing Administration (FHA). In addition, the MRB is imposing $268,000 in penalties against the Dallas-based mortgage lender for repeated and serious violations of FHA requirements.

WASHINGTON, DC - March 23, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today awarded $110.8 million in grants to 43 local projects to conduct a wide range of activities intended to protect children and families from potentially dangerous lead-based paint and other home health and safety hazards (see chart below).

WASHINGTON, DC - March 22, 2012 - (RealEstateRama) -- Every day across this country, hundreds of community-based foundations are improving the lives of residents and the neighborhoods where they live. These foundations often do their philanthropic work without much recognition – until now. The U.S. Department of Housing and Urban Development (HUD) is collaborating with the Council on Foundations in the launch of a new awards program to recognize community foundations for the excellent work they do along with their public partners in the area of housing and community development

WASHINGTON, DC - March 16, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today awarded nearly $3.8 million to 20 public housing authorities to address emergency, safety and security needs at their properties, including measures necessary to fight crime and drug activity. See attached chart for local impact of this funding.

WASHINGTON, DC - March 15, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today announced the availability of up to $25 million to help convert multifamily apartment complexes into assisted living facilities or service-enriched housing for low-income senior citizens. The funding offered through HUD’s Assisted Living Conversion Program will provide grants for the physical conversion of eligible multifamily assisted housing projects (or portions of projects) to assisted living facilities or service-enriched housing. Read the funding notice published today.

WASHINGTON, DC - March 14, 2012 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today announced the availability of up to $25 million to help convert multifamily apartment complexes into assisted living facilities or service-enriched housing for low-income senior citizens. The funding offered through HUD’s Assisted Living Conversion Program will provide grants for the physical conversion of eligible multifamily assisted housing projects (or portions of projects) to assisted living facilities or service-enriched housing. Read the funding notice published today.

WASHINGTON, DC - March 13, 2012 - (RealEstateRama) -- U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today awarded nearly $201 million to support 731 new local homeless programs across the country. This funding provides critically needed emergency shelter, transitional housing and permanent support for individuals and families and is a significant part of the Obama Administration’s strategic plan to prevent and end homelessness.

WASHINGTON, DC - March 9, 2012 - (RealEstateRama) -- Before implementing a new comprehensive tool to preserve public housing and other federally assisted housing, the U.S. Department of Housing and Urban Development (HUD) is seeking public comment beginning today on the Rental Assistance Demonstration (RAD). See Federal Register Notice. In addition to the Federal Register notice, HUD has posted guidance – PIH Notice 2012-18 (HA) – with proposed details for RAD’s implementation.

WASHINGTON, DC - March 9, 2012 - (RealEstateRama) -- All across the country, owners of aging apartment complexes are looking for ways to reduce their energy consumption and save money. In order to test new and innovative ways to cut energy bills and to finance energy efficiency upgrades in existing multi-family residential properties, the U.S. Department of Housing and Urban Development (HUD) today awarded nearly $23 million to a dozen organizations on the cutting edge of bringing energy-saving solutions to the housing market.