HUD: Revised “Disparate Impact” Rule Proposed

New proposed disparate impact rule more appropriately reflects 2015 Supreme Court ruling  The U.S. Department of Housing and Urban Development (HUD) today published a proposed rule to amend the HUD interpretation of the Fair Housing Act’s disparate impact standard. The proposed rule as amended would provide more appropriate guidance on […]

HUD and Census Bureau: Residential Construction Activity in July 2019 Report Issued

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for July 2019. Building Permits Privately owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,336,000. This is 8.4 percent […]

HUD: FHA Issues New Condominium Approval Rule

Comprehensive policy revisions include ability to approve individual units in nonapproved condo projects In an effort to promote affordable and sustainable homeownership, especially among credit-worthy first-time buyers, the Federal Housing Administration (FHA) today published a long-awaited final regulation, and policy implementation guidance, which establish a new condominium approval process. Designed […]

HUD: $6 Million Awarded to Provide Technical Assistance to Distressed Communities

LISC to help smaller communities experiencing economic distress, recovering from disaster The U.S. Department of Housing and Urban Development (HUD) today announced that it is awarding $6 million to the Local Initiatives Support Corporation (LISC) to provide critically needed technical assistance to distressed communities with populations under 40,000, including those […]

HUD: FHA to Promote Greater Residential and Commercial Development in Opportunity Zones

To stimulate greater multifamily residential and commercial development in Opportunity Zones, U.S. Housing and Urban Development (HUD) Secretary Ben Carson today announced the Federal Housing Administration (FHA) will insure mortgages on mixed-use development under the agency’s Section 220 Program in thousands of lower income communities across the country. In a […]

HUD: Historic Settlement Reached with City of Los Angeles to Resolve Disability Discrimination and Lack of Accessible Housing

City to invest hundreds of millions of dollars to produce thousands of accessible units city-wide The U.S. Department of Housing and Urban Development (HUD) today announced a landmark agreement with the City of Los Angeles to provide accessibility improvements for individuals with disabilities throughout the City’s affordable housing program. The […]

HUD: Disaster Mitigation Fund to Be Released in Two Tranches

U.S. Department of Housing and Urban Development (HUD) today announced that a Federal Register notice will soon be published that releases disaster mitigation funds in two tranches to areas impacted by recent storms. One tranche will include funds for Texas, Louisiana, Florida, North Carolina, South Carolina, West Virginia, California, Missouri, […]

HUD: Federal Financial Monitor Appointed to Oversee Puerto Rico Disaster Funds

Today, U.S. Department of Housing and Urban Development (HUD) announced its plan to appoint a Federal Financial Monitor to oversee the disbursement of disaster recovery dollars to Puerto Rico. “Given the Puerto Rico government’s alleged corruption, fiscal irregularities and mismanagement, we will appoint a Federal Financial Monitor to oversee the […]

HUD: Agency Announces Efforts to Reduce Risk from Cash-Out Refinance Lending

FHA and Ginnie Mae seek to preserve homeowner equity and, boost investor confidence The U.S. Department of Housing and Urban Development (HUD) today announced joint policy actions designed to reduce risk associated with cash-out refinance lending. The changes preserve homeowners’ ability to convert home equity to cash via a government-sponsored […]