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Topic: FHA

Montgomery County receives $500,000 for Park Project

 

Tennessee Department of Environment and Conservation (TDEC)

Tennessee Department of Environment and Conservation (TDEC)Nashville, TN – Tennessee Governor Bill Haslam and Tennessee Department of Environment and Conservation (TDEC) Commissioner Dr. Shari Meghreblian today announced a series of grants totaling more than $15 million to help fund parks and recreation projects in Tennessee communities.

“Easy access to parks, trails, walking paths and other recreational facilities can make a good community a great community,” said Haslam. “These grants provide the resources needed to help make Tennessee an even more desirable place to live, work and raise a family.”

Tennessee Governor Bill Haslam, TDEC Announce More than $15 Million for Local Parks and Recreation

Tennessee Governor Bill Haslam, TDEC Announce More than $15 Million for Local Parks and Recreation

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National Association of Realtors reports Existing-Home Sales Jump Again in October

 

National Association of Realtors Washington, D.C.Existing-home sales ascended in October for the second straight month and eclipsed June’s cyclical sales peak to become the highest annualized pace in nearly a decade, according to the National Association of Realtors®.

All major regions saw monthly and annual sales increases in October.   

Existing Home Sales for October 2016

Existing Home Sales for October 2016

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AAA says Motorists should be cautious during Winter Storms

 

AAATampa, FL – Extremely cold weather is moving across the southeastern U.S. and AAA warns motorists to be careful and make sure their vehicles are prepared for an emergency.

According to data from the Federal Highway Administration, each year, 24 percent of weather-related vehicle crashes occur on snowy, slushy or icy pavement and 15 percent happen during snowfall or sleet.

1 out of 4 People Worry Their Vehicle Will Break Down or Will Not Start

1 out of 4 People Worry Their Vehicle Will Break Down or Will Not Start

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AAA reports that most Motorists are not prepared for Winter Weather

 

3 out of 5 People Don’t have Winter Driving Kits in their Vehicles

AAATampa, FL – Extremely cold weather is moving across the southeastern United States and AAA warns motorists to be careful and make sure their vehicles are prepared for an emergency.

According to data from the Federal Highway Administration, each year, 24 percent of weather-related vehicle crashes occur on snowy, slushy or icy pavement and 15 percent happen during snowfall or sleet.

Snow and ice on the roads.

Snow and ice on the roads.

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Tennessee Housing Development Agency Offers Special Rate for Veterans

 

“Homeownership for the Brave”

Tennessee Housing Development AgencyNashville, TN – A special mortgage interest rate discount has been approved for active and retired members of the military by Tennessee Housing Development Agency’s Board of Directors. 

Service members can apply for the “Homeownership for the Brave” discount which is a ½-percent interest reduction on any of the three mortgage choices at lenders working with THDA. THDA offers 30-year fixed rate mortgages, with or without downpayment assistance, for persons of low to moderate income. The program began April 1st and is available through March 31st, 2012. «Read the rest of this article»

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HUD to investigate mortgage lenders who discriminate againest expectant mothers and new parents

 

U.S. Department of Housing and Urban Development (HUD)Washington, D.C. — The U.S. Department of Housing and Urban Development announced today that it will launch multiple investigations into the lending practices of certain mortgage lenders to determine if they illegally denied families mortgages because the mother is pregnant or a family member is experiencing a short-term disability. The action follows a report published this week in the New York Times outlining the lending practices of some lenders which might possibly violate the Fair Housing Act.

“Denying a mortgage to people just because they’re having a baby is flat wrong,” said Vice President Biden, Chair of the White House Task Force on Middle Class Families. “Mothers on maternity leave have jobs, they have income, and they shouldn’t have to lose their deal to close on a house because they had a baby. I applaud HUD for taking action on this practice that could potentially affect untold numbers of families.” «Read the rest of this article»

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Housing Scorecard shows continued increase in Home Affordability, neighborhood stabilization, but challenges remain

 

July report on nation’s housing market includes new measures of affordability and tracks, for the first time, impact of the $6 billion NSP investment in hardest hit communities

U.S. Department of Housing and Urban Development (HUD)Washington, D.C. — The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the second edition of the Administration’s Housing Scorecard (www.hud.gov/scorecard) showing that, thanks in part to interest rates continuing at all-time lows, home affordability in the U.S. remains near the most attractive levels in 10 years.

In addition, for the first time, the report now tracks the impact of HUD’s Neighborhood Stabilization Program (NSP), which has spurred local investment and is beginning to make affordably-priced homes available to consumers. The Housing Scorecard is the Administration’s comprehensive report on the nation’s housing market. «Read the rest of this article»

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FHA and Ginnie Mae take action against Lend America

 

FHA-approved lender faulted for poor underwriting and false certifications

hudlogoWASHINGTON – The Federal Housing Administration (FHA) today withdrew the FHA approval of Ideal Mortgage Bankers, doing business as Lend America and Lending Key (“Ideal”). The action is effective immediately and prevents Ideal from originating and underwriting new FHA-insured mortgages or from participating in the FHA single family insurance program. In addition, the Government National Mortgage Association (Ginnie Mae) defaulted Lend America. Effective immediately, Lend America will no longer be able to issue Ginnie Mae securities.

FHA also imposed civil money penalties against Ideal in the amount of $512,500. The U.S. Department of Housing and Urban Development’s Mortgagee Review Board (MRB) took the action based upon two notices of violation issued to the Company last month. The MRB cited Ideal for numerous violations of FHA origination and underwriting requirements, including failing to document borrowers’ income and creditworthiness, and for submitting false certifications to the Department.

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HUD secretary announces disaster assistance for Tennessee storm victims

 

Foreclosure protection offered to displaced families in six counties

hudlogoWashington – 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»

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

 

Ginnie Mae Issues Default Notice and Transfers Portfolio

hudlogoWashington – 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»

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