The U.S. Senate approved President Donald Trump’s nominee for deputy secretary at the Department of Housing and Urban Development on a party-line vote Tuesday. Andrew Hughes, a former HUD official who most recently had been serving as chief of staff to department Secretary Scott Turner, was confirmed by a vote of 51-44. All Republicans voiced […]
Senate confirms Trump’s pick for HUD deputy secretary Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. As the Trump Administration looks for cost savings at HUD and FHFA, they are learning that things that seem easy to achieve on the surface can be far more complex in practice. After the relatively easy task of headcount reductions, for example,
How DOGE could shrink federal housing spending Read More »
The leaders seated earlier this year in the U.S. Department of Housing and Urban Development (HUD) are reportedly planning new time limits and work requirements for recipients of the department’s existing rental assistance programs, according to an internal document viewed by NPR. The document reportedly reveals that HUD is planning on limiting the amount of
HUD plans new time limits, work requirements for rental assistance Read More »
The Department of Housing and Urban Development’s own counsel is reportedly concerned that Trump administration-induced staff cuts could disrupt mortgage operations and increase fraud and litigation risks. The revelations stem from an internal HUD document seen by Bloomberg Citylab, according to an article published Thursday. Staff departures at the regulator could allegedly “greatly delay”‘ or
HUD memo reportedly warns of staff cut impact on mortgages Read More »
Following last month’s release of the so-called “skinny budget” from the White House, the Office of Management and Budget (OMB) has released a 1,200-plus page appendix for the proposal. It includes projections related to the performance of the Home Equity Conversion Mortgage (HECM) portion of the Mutual Mortgage Insurance (MMI) Fund. According to the data
White House expects reverse mortgages to continue producing government receipts Read More »
Following its vow to appeal the initial decision in a case brought against Ginnie Mae over rights to reverse mortgage-backed collateral stemming from the collapse of a major industry lender, filings by Texas Capital Bank (TCB) have been docketed and assigned a case number in the Fifth Circuit Court of Appeals. The suit will begin
TCB’s appeal against Ginnie Mae over reverse-backed collateral will proceed Read More »
Citing a series of missteps made despite the oversight and U.S. Department of Housing and Urban Development (HUD) action plans, the chairman of the House of Representatives‘ Financial Services Committee is calling for a federal investigation into the housing authority of Little Rock, Arkansas. Rep. French Hill (R) — who represents Arkansas’s second congressional district
French Hill calls for investigation into Little Rock Housing Authority Read More »
In a move that’s designed to simplify prior policy, the Federal Housing Administration (FHA) on Tuesday published a new Mortgagee Letter (ML) that targets borrower default engagement practices that were published in the waning days of the Biden administration. ML 2025-14 makes changes to final guidance first floated last summer to open up communications between
HUD walks back prior default guidance as too ‘burdensome’ for mortgage servicers Read More »
The Trump administration is defending new building standards that over a dozen states and a leading industry trade group say will markedly raise housing costs. A federal judge this week scheduled a hearing which could determine the fate of the lawsuit over the adoption of energy efficiency standards a decade in the making. The Department
HUD, USDA defend rule NAHB argues will hike housing costs Read More »
In compliance with a 1978 law that requires government agency watchdogs to provide semi-annual reports on their activities, the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) published its report on Tuesday. While there were no new indications of scrutiny for the Home Equity Conversion Mortgage (HECM) program, the
HUD OIG reveals ongoing reverse mortgage oversight priority Read More »