Morning Roundup (2/17/25) – DOGE Targets HUD
| Good Morning! Today is Monday, February 17. It’s Presidents Day. The Trump administration reversed last Thursday’s firings of nuclear weapons workers. The IRS is preparing to give Musk associates access to sensitive taxpayer information. At least nine people have died in floods in Kentucky. The Mortgage Note Reports DOGE Targets Housing: HUD officially announced the launch of a DOGE task force to “examine how to best maximize the agency’s budget.” Supercharging Inflation: Last week’s inflation data surprised many analysts, and if the trend keeps up, housing affordability will take a toll. |
| Quote Of The Day “You shut down the CFPB, it’s going to affect real people but it’s likely to be felt over time. You mess with HUD, you’re potentially impacting people right away — immediately.” NCRC President Jesse Van Tol on DOGE Targeting HUD |
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In other mortgage and housing news… Disaster Prep: HUD employees are bracing for staff cuts in divisions that provide housing assistance, investigate discrimination, and compile data and research. Employee Trouble: Southern California’s housing crisis could plumb new depths after the LA wildfires, but policies in other states offer a blueprint for moving forward. Warning Sign: Borrowers who got FHA and VA loans are falling behind on their payments, a worrying signal for how lower-income Americans are faring. Fraud Alert: A New York man pleaded guilty in Georgia for his role in a scheme to defraud investors in connection with two commercial real estate investments. Housing Market Hit: D.C. home listings are surging and prices are being slashed as federal workforce reductions leave employees uncertain about their future. |