Leaders at Rocket Companies are speaking out after being charged with discrimination by the U.S. Department of Housing and Urban Development. According to officials at HUD, a Black homeowner in Denver who was refinancing her property alleges that appraiser Maksym Mykhailyna with Maverick Appraisal Group and the appraisal management company Solidifi undervalued her property due…
The Department of Housing and Urban Development, through the Federal Housing Administration, updated policies for its 203(k) Rehabilitation Mortgage Insurance Program. Officials say the updates modernize and enhance the program for homeowners looking to affordably finance home renovations and rehabilitations when purchasing or refinancing. Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon and…
The Federal Housing Administration is celebrating its 90th birthday, and its impact on U.S. housing and finances has been widespread. The FHA was created in 1934 by the National Housing Act as a way to help restructure the financial system during the Great Depression. Its goal was to improve housing standards, provide a method of…
New home sales tanked last month, falling to their slowest pace since November. That’s according to data from the U.S. Census Bureau and the Department of Housing and Urban Development, which reported sales plunging by 11.3% to a seasonally adjusted annual rate of 619,000 in May, down from the month priors’ revised rate of 698,000….
The Department of Housing and Urban Development’s (HUD) Office of Housing Counseling is expanding services for Tribal communities. A new final rule outlines the requirements for gaining a housing counselor certification related to the Indian Housing Block Grant (IHBG) and Indian Community Development Block Grant (ICDBG). The new rule creates a new category of certified…
By KIMBERLEY HAAS Officials at the U.S. Department of Housing and Urban Development have reached an agreement with Rocket Mortgage after the company allegedly denied a loan to a couple hoping to buy a home on tribal land. According to a press release, the single-family home was located within the boundaries of the Flathead Indian…
The White House and HUD announced funding for urgently needed affordable housing and community development. More than 1,000 communities will receive $5.5 billion in grants. The money will go toward various housing-related areas, including resources for homebuilding, supporting renters and homeowners, and assistance for the homeless. “Homeownership is an essential part of the American Dream…
The Department of Housing and Urban Development announced a final rule aimed at boosting homeownership for Native American families. The final rule “clarifies the rules governing Tribal participation in the program” while establishing underwriting requirements, rules on the closing and endorsement process, stronger and clearer servicing requirements, as well as other updated standards. It is designed…
Ginnie Mae’s Alanna McCargo is leaving the company and returning to private life, the Department of Housing and Urban Development announced. McCargo, who has served a president of the Government National Mortgage Association (Ginnie Mae) since January 2022, called the move a “deeply personal decision.” “The past 3.5 years in public service with the Biden-Harris…
The U.S. Department of Housing and Urban Development named Andrew Lofton as Regional Administrator for the Northwest, according to a press release. Lofton will oversee HUD operations in Alaska, Idaho, Oregon, and Washington, representing the department while working with state and local officials on housing issues. “It is an honor to serve the Biden Harris…
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