News

WASHINGTON, D.C. - March 18, 2011 - (RealEstateRama) -- The U.S. Consumer Product Safety Commission (CPSC) and the U.S. Department of Housing and Urban Development (HUD) are issuing an updated remediation protocol for homes with problem drywall. A study conducted on behalf of CPSC by Sandia National Laboratories in New Mexico, finds no evidence of a safety hazard to home electrical systems. Sandia simulated long-term exposure of wiring and other electrical components to hydrogen sulfide gas, which is associated with problem drywall.

WASHINGTON, DC - March 18, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that 17 communities will be the first recipients of Planning Grant funding through the Department’s new Choice Neighborhoods Initiative.

WASHINGTON, DC - March 17, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today announced that Charles Schwab Bank has agreed to pay $30,000 settling allegations that the bank refused to accept a loan application from the adult son of a Metairie, Louisiana woman with disabilities. The son, who was acting with his mother’s power of attorney, tried to apply for a loan on his mother’s behalf, but was told that the bank did not accept powers of attorney for “incapacitated borrowers.”

WASHINGTON, DC - March 11, 2011 - (RealEstateRama) -- Millions of U.S. families face health and safety hazards like mold, lead, pest infestation and the physical deterioration of their homes. These problems are particularly common among some of the nation’s most vulnerable populations: children, seniors, the disabled and low-income families.

WASHINGTON, DC - March 10, 2011 - (RealEstateRama) -- America’s cities are better prepared to be sustainable economic engines according to a new report just released by the Department of Housing & Urban Development. The report titled The American Recovery and Reinvestment Act: Working for America’s Cities found that the Recovery Act has helped position American cities to out-educate, out-innovate, and out-build our competitors. The collaborative and innovative approaches initiated during the implementation of the Recovery Act have laid the foundation for American cities to win the future.

WASHINGTON, DC - March 2, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the February edition of the Obama Administration's Housing Scorecard. The latest housing figures show increased existing home sales as home affordability remains high, but officials caution that the market remains fragile, as prices are unsettled.

WASHINGTON, DC - March 2, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today is awarding $7.8 million in grants to 14 local projects in nine states to conduct a wide range of activities such as research on the cost effectiveness of home-based interventions for children with asthma and novel strategies for reducing risks from lead-contaminated soil and house dust (see attached). For the first time, HUD is awarding $2 million of those grants to improve indoor environmental conditions and links to education and medical services for asthmatic children and other residents living in public and assisted multifamily housing

WASHINGTON, DC - March 2, 2011 - (RealEstateRama) -- More than 250 communities across the country will be able to increase the economic impact of their local community development and affordable housing programs through nearly $50 million in “capacity-building” grants awarded today by the U.S. Department of Housing and Urban Development (HUD). The funds awarded today will support three national organizations and are ultimately expected to produce approximately 8,000 units of affordable housing nationwide, and generate more than $1 billion in total development investment.

WASHINGTON, DC - March 1, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development today awarded $40.8 million to 108 fair housing organizations and non-profit agencies in 36 states and the District of Columbia to educate the public and combat housing and lending discrimination (see attached list of grantees). This year’s award represents a $13.2 million increase over last year’s award and includes $10 million to fund activities that address lending discrimination, including mortgage rescue scams

WASHINGTON, DC - March 1, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced a commitment to insure a mortgage loan to Parkview Community Hospital Medical Center in Riverside, California. The $29 million loan is made possible through the Section 223(f) component of the Federal Housing Administration’s (FHA) Section 242 Hospital Mortgage Insurance Program.

WASHINGTON, DC - February 25, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) recently issued guidance making it clear that residents who are denied or evicted from housing as a result of domestic violence may have basis to file a discrimination complaint with HUD under the federal Fair Housing Act. HUD's guidance states that while the Violence Against Women Act (VAWA) provides some protections to victims of abuse who experience housing discrimination, the Fair Housing Act provides authority for HUD to investigate whether the denial or eviction violates the Act based on gender or another federally-protected basis

WASHINGTON, DC - February 21, 2011 - (RealEstateRama) -- U.S.Housing and Urban Development Secretary Shaun Donovan and Federal Emergency Management Agency Administrator Craig Fugate today announced an additional five-month extension of disaster housing assistance to more than 5,168 families in Texas and Louisiana who were displaced by Hurricanes Ike and Gustav. The extension of rental assistance through the Disaster Housing Assistance Program (DHAP) gives these families until September 30th to transition to permanent housing solutions. his extension will give 3,425 families in Texas and 1,743 families in Louisiana who continue to participate in DHAP-Ike another five months to transition from the program. Since November, 2008, the DHAP program provided temporary rental assistance to families and was scheduled to end on March 31, 2011

WASHINGTON, DC - February 16, 2011 - (RealEstateRama) -- In an effort to promote a new generation of data-driven and evidence-based policymaking, U.S. Housing and Urban Development Secretary Shaun Donovan today unveiled a new quarterly publication intended to inform housing and community development advocates, state and local policymakers, Congress and researchers on new approaches to issues related to housing and community development. Evidence Matters is an objective, unbiased publication intended to inform the broad housing and community development field on future policy directions based on research and data – in short, the evidence

WASHINGTON, DC - February 15, 2011 - (RealEstateRama) -- As part of ongoing efforts to strengthen the Federal Housing Administration’s (FHA) capital reserves, FHA Commissioner David H. Stevens today announced a new premium structure for FHA-insured mortgage loans increasing its annual mortgage insurance premium (MIP) by a quarter of a percentage point (.25) on all 30- and 15-year loans. The upfront MIP will remain unchanged at 1.0 percent. This premium change was detailed in President Obama’s fiscal year 2012 budget, also released today, and will impact new loans insured by FHA on or after April 18, 2011.

WASHINGTON, DC - February 14, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today unveiled HUD’s fiscal year 2012 budget proposal. Titled Creating Strong, Sustainable, Inclusive Communities and Quality Affordable Homes the budget seeks to help lead America out of an unprecedented economic crisis and ensure our economy is competitive – growing and working for all Americans. HUD is taking responsibility for our deficit, by investing in what makes America stronger and cutting what doesn’t.

WASHINGTON, DC - February 14, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today announced an additional $50 million in disaster funding to help Tennessee communities recover from last spring's devastating storms and flooding. Provided through HUD's Community Development Block Grant (CDBG) Program, these grants will supplement $24 million awarded by HUD last September to support long-term disaster recovery efforts throughout the Volunteer State.

WASHINGTON, DC - February 11, 2011 - (RealEstateRama) -- Today, the Obama Administration delivered a report to Congress that provides a path forward for reforming America's housing finance market. The Administration's plan will wind down Fannie Mae and Freddie Mac and shrink the government's current footprint in housing finance on a responsible timeline. The plan also lays out reforms to continue fixing the fundamental flaws in the mortgage market through stronger consumer protection, increased transparency for investors, improved underwriting standards, and other critical measures. Additionally, it will help provide targeted and transparent support to creditworthy but underserved families that want to own their own home, as well as affordable rental options.

WASHINGTON, DC - February 10, 2011 - (RealEstateRama) -- For the first time ever, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) today published the most authoritative analysis of the extent and nature of homelessness among American veterans. According to HUD and VA’s assessment, nearly 76,000 veterans were homeless on a given night in 2009 while roughly 136,000 veterans spent at least one night in a shelter during that year.

WASHINGTON, DC - February 1, 2011 - (RealEstateRama) -- In a report to Congress released today, the U.S. Department of Housing and Urban Development (HUD) found that “worst case housing needs” grew by nearly 1.2 million households, or more than 20 percent, from 2007 to 2009 and by 42 percent since 2001. “Worst case housing needs” are defined as low-income households who paid more than half their monthly income for rent, lived in severely substandard housing, or both.

WASHINGTON, DC - January 31, 2011 - (RealEstateRama) -- In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) Commissioner David H. Stevens today extended FHA's temporary waiver of the agency's 'anti-flipping rule.' The extension announced today is intended to accelerate the resale of foreclosed upon homes in neighborhoods struggling to overcome possible property abandonment and blight.