The HUD Office of the Inspector General has recommended new procedures to address deficiencies in how FHA handles unpaid refunds that are due to borrowers.
LIHTC and GSE programs both use the same flawed system for determining whether a project is “affordable,” revealed David Brickman, former CEO of Freddie Mac.
HUD joins FHFA in limiting sale of REO property to investors. The plan is to make sure more affordable housing is available to private buyers and nonprofits.
With the Centers for Disease Control and Prevention no longer able to offer eviction protection to delinquent renters, the speculation now is whether the housing finance agencies will institute a moratorium of their own.
The plans will focus on reducing the racial and ethnic homeownership gap and helping to mitigate underinvestment and undervaluation in previously redlined neighborhoods.
Industry consultants are cautioning companies to take steps to ensure their fair housing compliance teams are ready to defend an expected uptick in enforcement actions.
In particular, one clause could rankle mortgage industry participants: HUD also agreed to notify FHFA of any Fair Housing Act complaints related to counterparties of Fannie and Freddie.