HUD planning to tackle affordable home shortage by encouraging zoning reform

In an effort to remedy America’s great housing shortage, the Department of Housing and Urban Development is launching a new initiative called “Our Way Home” that aims to boost the supply of affordable homes by taking action at a local level. The idea is to help local communities add more affordable housing while preserving their

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President Biden nominates Julia Gordon as HUD commissioner

U.S. President Joe Biden has nominated a new Federal Housing Commissioner to serve at the Department of Housing and Urban Development. Should her nomination be confirmed by the Senate, Julia Gordon will be tasked with leading the Federal Housing Administration, supervising programs relating to the private mortgage insurance market and overseeing the $400 billion Federal

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HUD’s proposed rule change could limit housing discrimination lawsuits

The Department of Housing and Urban Development is proposing a change to its fair housing rules, but critics say the move could result in less discrimination lawsuits. The HUD has proposed a change in its regulations that would do away with the so-called “Disparate Impact rule”, which is often used as a way of enforcing

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HUD rule changes make it harder to obtain a cash-out refinance loan

The Department of Housing and Urban Development last week imposed limitations on cash-out refinances that will make it more difficult for homeowners to cash in on the equity they’ve built up in their homes. The HUD said on Thursday it’s lowering its loan-to-value requirements for cash-out refinances from 85% to 80%. The move means that

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HUD Approves Settlement of Fair Housing Complaint Against OneWest Bank

On July 29, 2019, the U.S. Department of Housing and Urban Development (HUD) announced that it has approved a conciliation agreement settling a Fair Housing complaint against CIT Bank, N.A., dba OneWest Bank (CIT). California Reinvestment Coalition (CRC) had accused CIT of violating the Fair Housing Act (FHA) in its positioning branch location, marketing, and mortgage

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HUD moves to tackle lead paint hazards with $330M in grants

The Department of Housing and Urban Development wants to help clean up health hazards such as lead-based paint in low-income housing, and is allocating $330 million in grants to facilitate such projects. The grants will be made available via the HUD’s Lead Hazard Reduction and Healthy Homes Production for Tribal Housing programs, it said. “Your

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HUD seeks public comment on ‘Opportunity Zones’

The Department of Housing and Urban Development is looking for advice on how “Opportunity Zones” can be used to better benefit communities and the residents who live within them. To that end, it’s seeking public comments for ideas on how to achieve this. The government-backed Opportunity Zone Program was initiated under the Tax Cuts and

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HUD charges Facebook over unfair housing ads

Just a week after adjusting its ad targeting options for housing and job advertisements, Facebook has been slapped with a charge from the Department of Housing and Urban Development that alleges it broke Fair Housing Act regulations. The HUD’s lawsuit against Facebook alleges that its advertising platform doesn’t deliver housing ads fairly, and that it

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HUD to donate $47 million for grants to housing counselors

Some $47 million of funding has been earmarked by the U.S. Department of Housing and Urban Development to go towards providing housing counseling grants. The money will be used to help around one million low income households avoid foreclosure or find new housing. HUD Secretary Ben Carson announced the new funding initiative, saying that HUD-approved housing

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HUD says Facebook violates the Fair Housing Act

Facebook is facing fresh controversy after the Department of Housing and Urban Development alleged that its violating the Fair Housing Act by allowing landlords and home sellers

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