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Economists calculate that the decline in home prices has cost American homeowners approximately $7 trillion in home equity. Compounding this problem is the fact that the inventory of homes available for sale remains high and there is potential for a significant volume of “shadow inventory”...
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As red-blooded American males prepare for the advertising onslaught of Valentine's Day (2/14), we are reminded that the media is indeed powerful - just ask Sarah Palin. (Hey, whatever happened to her?) All this month the public has seen the OCC foreclosure ads . Supports Independent Foreclosure Review...
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The U.S. Census Bureau projected the Jan. 1, 2012, total United States population at 312,780,968. This would represent an increase of 2,250,129, or 0.7 percent, from New Year's Day 2011. In January 2012, one birth is expected to occur every eight seconds in the United States and one death every 12 seconds...
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Seven billion is a lot of people. I guess that's about how many of us there are in the world: http://www.bbc.co.uk/news/world-15391515 . (And no, contrary to what you think, they won't all be in line in front you at the Apple store this holiday season.) Of course, two of those people are famous-for-being...
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Six cities have been selected for a pilot program designed by the Obama Administration to strengthen local capacity, spark economic growth and ensure that taxpayer dollars are used efficiently. The initiative, named Strong Cities, Strong Communities (SC2) will involve multiple federal agencies which...
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The Department of Housing and Urban Development (HUD) has modified the existing policies related to two of its assistance programs to give unemployed homeowners additional time to obtain a job before losing their homes. The changes impact FHA requirements and the Making Home Affordable (MHA) program...
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By Brian Montgomery, former FHA Commissioner and Vice Chairman, The Collingwood Group and Karen Garner Wing, Special Advisor to The Collingwood Group and former HUD Quality Assurance Division Manager According to recent news stories, the HUD Office of Inspector General has put several lenders on notice...
Posted to
Voice of Housing
by
Brian Montgomery
on
Tue, Jun 28 2011
Filed under:
Filed under: fha, hud, Mortgagee Review Board, QAD, OIGA, Enforcement, MRB, Quality Assurance Division, Lender Oversight, Office of Inspector General for Audit
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Affordable rental housing is the focus of the second edition of Evidence Matters , the Department of Housing and Urban Development's (HUD's) new quarterly publication devoted to housing and community development issues. This edition focuses on several proposals that came out of the Next Generation Housing...
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Despite the severe economic downturn, persistent unemployment, and thousands of foreclosures, Secretary of Housing and Urban Development (HUD) Shaun Donovan announced that the number of homeless people in the U.S. held relatively steady between 2009 and 2010. While overall numbers were up slightly, the...
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The Huffington Post reported late yesterday that five of the country's largest mortgage lenders may have defrauded taxpayers by filing false claims with the Federal Housing Administration (FHA). Confidential audits conducted on Bank of America, JP Morgan Chase, Wells Fargo, Citigroup, and Ally Financial...
Posted to
MND NewsWire
by
Jann Swanson
on
Thu, May 19 2011
Filed under:
Filed under: Fraud, citigroup, bank of america, HUD, wells fargo, gmac, Inspector General, Ally Financial, False Claims, JP Morgan Chase
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Occasionally I receive e-mails that are worth saving. Like the one where someone wrote, "Your vocabulary is as bad as, like, whatever." And some websites are worth saving, like this one that tells the viewer what states/counties have been declared disaster areas by our government: FEMAUpdates . Happy...
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In a telephone press conference this afternoon U.S. Housing and Urban Development Secretary Shaun Donovan awarded more than $216 million to nearly 700 homeless programs that have never received HUD homelessness funding. The awards are expected to provide services ranging from emergency shelter to transitional...
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Not much economic data is on the calendar today. Investors are focusing on whether Republicans and Democrats can find a last-minute compromise on this year's budget and avoid a costly government shut-down. According to CNN, operations of the Securities and Exchange Commission would be "extremely limited...
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Congress needs to pass a "Continuing Resolution" by midnight on Friday, April 8th to avoid a government shutdown. From Wikipedia : A continuing resolution is a type of appropriations legislation used by the United States Congress to fund government agencies if a formal appropriations bill has not been...
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The lending executive who became the first Risk Manager of the Federal Housing Administration (FHA) will now, at least temporarily head the agency. Robert C. Ryan will become Acting Commissioner of FHA, replacing David H. Stevens. Ryan will also hold the title of Assistant Secretary of the Department...