Topic: U.S. Department of Housing and Urban Development

HUD awards more than $600 Million in Recovery Act grants to support community development and job growth

September 26, 2009 |

Tennessee to receive over $13.2 million; Clarksville $215,046

Washington – In the Obama Administration’s continued effort to stimulate community development and job growth, U.S. Housing and Urban Development Secretary Shaun Donovan today awarded $620 million to over 500 communities across the country through the American Recovery and Reinvestment Act of 2009 (Recovery Act). To view the list the full list of grantees receiving funding under this program, visit HUD’s Recovery Act website. Tennessee will receive over $13 million (see attached list).

The Recovery Act made available a total of $1 billion through the Community Development Block Grant (CDBG) Program. On July 16th, HUD announced the first round of grants under this program to nearly 700 communities, totaling $360 million. With today’s announcement, all $1 billion are now in the hands of communities, working to create jobs and revitalize neighborhoods.

“Today, I am proud to announce that HUD has moved quickly to obligate more than $10 billion in Recovery Act funds,” said Donovan. “Nearly three quarters of our Recovery Act funds are now available to communities across the country and are being put to work creating jobs, making homes more energy efficient, and strengthening neighborhoods.” «Read the rest of this article»

Sections: News | No Comments

HUD secretary announces disaster assistance for Tennessee storm victims

August 25, 2009 |

Foreclosure protection offered to displaced families in six counties

Washington – U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to counties in Tennessee and provide support to homeowners and low-income renters forced from their homes following severe storms and flooding.

On Friday, President Obama issued a disaster declaration for Chester, Clay, Decatur, Jackson, Overton, and Wayne Counties. The President’s declaration allows HUD to offer foreclosure relief and other assistance to certain families living in these counties.

“Families who may have been forced from their homes need to know that help is available to begin the rebuilding process,” said Donovan. “Whether it’s foreclosure relief for FHA-insured families or helping these counties to recover, HUD stands ready to help in any way we can.” «Read the rest of this article»

Sections: News | No Comments

FHA suspends Taylor, Bean, & Whitaker Mortgage Corp. & proposes sanctions

August 6, 2009 |

Ginnie Mae Issues Default Notice and Transfers Portfolio

Washington – The Federal Housing Administration (FHA) today suspended Taylor, Bean and Whitaker Mortgage Corporation (TBW) of Ocala, Florida, thereby preventing the Company from originating and underwriting new FHA-insured mortgages. The Government National Mortgage Association (Ginnie Mae) is also defaulting and terminating TBW as an issuer in its Mortgage-Backed Securities (MBS) program and is ending TBW’s ability to continue to service Ginnie Mae securities. This means that, effective immediately, TBW will not be able to issue Ginnie Mae securities, and Ginnie Mae will take control of TBW’s nearly $25 billion Ginnie Mae portfolio.

FHA and Ginnie Mae are imposing these actions because TBW failed to submit a required annual financial report and misrepresented that there were no unresolved issues with its independent auditor even though the auditor ceased its financial examination after discovering certain irregular transactions that raised concerns of fraud. FHA’s suspension is also based on TBW’s failure to disclose, and its false certifications concealing, that it was the subject of two examinations into its business practices in the past year.

“Today, we suspend one company but there is a very clear message that should be heard throughout the FHA lending world – operate within our standards or we won’t do business with you,” said HUD Secretary Shaun Donovan. «Read the rest of this article»

Sections: Business | No Comments

HUD pledges faster loan modifications for struggling homeowners

July 29, 2009 |

Administration, Servicers Commit to Faster Relief for Struggling Homeowners through Loan Modifications

Washington, D.C. – Senior Obama Administration officials met today with top executives from servicers participating in the Making Home Affordable loan modification program to discuss ways to improve effectiveness and efficiency of the program. The meeting – led by Treasury Assistant Secretary for Financial Institutions Michael S. Barr, Treasury Assistant Secretary for Financial Stability Herb Allison, FHA Commissioner David Stevens and HUD Senior Advisor to the Secretary William Apgar – addressed challenges to modifications, strategies for improvement, and collective goals that the servicers and Administration are committed to reaching.

“With over 200,000 trial loan modifications already under way, we are on track to meet our goals,” said Treasury Secretary Tim Geithner. “Still, too many homeowners are at risk of foreclosure right now. Today’s meeting was an opportunity to identify ways to accelerate the program and bring relief faster.”

Servicers in attendance committed to significantly increasing the rate at which they are performing loan modifications. The Administration has established a goal of reaching half a million trial modifications begun by November 1, 2009.

“I am confident that the best practices shared today, combined with more transparent reporting methods, better communication among all parties, and a strong commitment from servicers, will ensure that we can ramp up the MHA program’s pace to meet these ambitious goals,” said HUD Secretary Shaun Donovan. «Read the rest of this article»

Sections: News | No Comments

HUD to offer housing assistance to 4,000 Americans with disabilities

June 29, 2009 |

WASHINGTON – The U.S. Department of Housing and Urban Development today joined President Obama’s commemoration of the tenth anniversary of the Supreme Court’s Olmstead decision by announcing that it will offer rental assistance to 4,000 non-elderly families with disabilities, including 1,000 vouchers specifically targeted to those transitioning out of nursing homes and other care facilities. Through its funding notice, HUD is seeking comment from public housing authorities and others to ensure this critically needed assistance is distributed and administered in the most effective manner possible.

Today’s announcement coincides with the tenth anniversary of the Supreme Court’s ruling in Olmstead v. L.C. & E.W. which affirmed the rights of individuals with disabilities to live independently. To commemorate this landmark decision, President Obama declared 2009 the Year of Community Living.

“As individuals with disabilities leave institutional care, it is essential that they have housing options that will allow them to live independently,” said HUD Secretary Shaun Donovan. «Read the rest of this article»

Sections: News | No Comments

© 2009 Clarksville, TN Online is owned and operated by residents of Clarksville Tennessee.
» We are Hosted by Compu-Net Enterprises; In Partnership with Discover Clarksville and Discover Paris