Advertisement
HomeCollectionsFederal Housing Administration
IN THE NEWS

Federal Housing Administration

FEATURED ARTICLES
BUSINESS
January 19, 1997
An article in the Jan. 12 Real Estate section incorrectly stated benefits to buyers of homes in the Department of Housing and Urban Development inventory.Through the end of February, buyers who plan to live in homes insured by the Federal Housing Administration pay just a $500 down payment. Owner-occupants or investors can get a $300 bonus if the sale goes to settlement within 30 days of HUD's accepting a contract.The Sun regrets the error.Pub Date: 1/19/97
ARTICLES BY DATE
BUSINESS
By Natalie Sherman, The Baltimore Sun | June 17, 2014
Maryland will receive $33 million from a nearly $1 billion joint state-federal settlement reached with SunTrust Mortgage Inc. over past problems with its mortgage servicing and foreclosure procedures, the Maryland Attorney General's office announced Tuesday. The money is supposed to provide funding for loan modifications and other forms of relief over a three-year period. The state also expects about 1,200 Maryland borrowers to be eligible to apply for a one-time payment from a $40 million national fund.
Advertisement
NEWS
By John B. O'Donnell and John B. O'Donnell,SUN STAFF | July 14, 2000
The federal effort to eliminate troubling lenders from the Federal Housing Administration mortgage program got an important boost this week from the 4th U.S. Circuit Court of Appeals in Richmond, Va. The court upheld the move last year by the U.S. Department of Housing and Urban Development to bar a Maryland business from making FHA-backed loans in the Baltimore-Washington area because of a high default rate on those mortgages. Capitol Mortgage Bankers Inc. of Millersville was one of 27 lenders to be barred in the first round of a new attempt by HUD to reduce the rising foreclosure rate on mortgages insured by the Federal Housing Administration.
NEWS
By Edward J. Pinto | December 31, 2012
Imagine that a federal agency wanted to hurt America's working-class families on purpose. How would it inflict maximum damage? It might start by aggressively marketing homeownership to marginal borrowers. It would tell them that bad credit scores aren't a problem. It would push them into homes they can't afford, saddle them with loans that barely build equity and provide no incentives for fiscal discipline. And when many of these homes go underwater and into foreclosure, it would leave families in financial ruin.
NEWS
By John B. O'Donnell and John B. O'Donnell,SUN STAFF | May 3, 2001
Susan Gaffney, the chief investigator at the U.S. Department of Housing and Urban Development, whose plans for a fraud probe in Baltimore sparked charges of racism from former Mayor Kurt L. Schmoke three years ago, announced her retirement yesterday. Gaffney, 57, said she plans to retire "in about a month" after 22 years in the federal government. In 1993, former President Bill Clinton named her HUD inspector general, an independent post that supervises a nationwide staff of auditors and criminal investigators.
NEWS
March 28, 2010
T he Obama administration has announced a major new effort to stem the foreclosure crisis by focusing on two groups: the unemployed and the rapidly growing share of homeowners who owe more on their mortgages than their houses are worth. Getting banks to temporarily reduce payments for the unemployed fits in with many previous efforts to help those who find they are unable, because of the economic downturn, to meet their mortgage obligations. But the second part of the plan, helping those with so-called "underwater" mortgages reduce the amount of principal they owe, may be more difficult for many Americans to swallow.
BUSINESS
By James M. Woodard and James M. Woodard,Copley News Service | February 17, 1991
Every American family should be able to afford a decent home in a suitable environment.That's the national goal, as expressed in a major new housing legislative bill -- the National Affordable Housing Act. It's the first really significant housing legislation in 10 years and opens the door to new and experimental affordable housing programs.The legislation makes it possible for mortgage lenders, government units and non-profit organizations to join in establishing local affordable housing programs.
NEWS
By Antero Pietila | February 8, 2010
A small paid notice in Wednesday's Sun announced the death of Anne Irene Ruth Salzman at Charlestown Retirement Community. She was 97 and "was preceded in death by her husband of fifty years, Sidney Salzman," the notice said. Missing was the rest of the story -- how the Salzmans in 1941 fought the Federal Housing Administration for the right to live in a neighborhood of their own choosing. Much has changed since then, but studies suggest that each year millions of Americans still face similar discrimination -- not by the government, perhaps, but by the real estate marketplace.
BUSINESS
By Andrea K. Walker | andrea.walker@baltsun.com | January 13, 2010
Federal housing officials on Tuesday served subpoenas on 15 mortgage companies, including one in Maryland, saying the firms appeared to have high default rates for loans backed by the Federal Housing Administration. Dell Franklin Financial, a small Columbia firm with about 20 employees, is among those being investigated, but President Richard Reese said it has done nothing wrong and that a federal audit performed late last year found the bank to be in good standing. The firm originates about 800 loans every year on homes around the country, working with clients by telephone and from its headquarters.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | November 9, 2011
State regulators said Wednesday that they have ordered a large mortgage broker to stop making loans to Marylanders after federal investigators alleged the company had violated lending rules. The U.S. Department of Housing and Urban Development announced last week that it was no longer allowing Allied Home Mortgage Corp. to originate loans insured by the Federal Housing Administration because it said the company had played "fast and loose with FHA's standards. " The Justice Department is alleging mortgage fraud in a lawsuit against Allied.
BUSINESS
By Steve Kilar, The Baltimore Sun | December 31, 2012
Federal officials have extended a regulatory waiver that makes it easier to "flip" properties - a move meant to encourage the renovation of foreclosed homes but that critics say could herald the return of predatory schemes. The Federal Housing Administration has waived through 2014 an anti-flipping regulation, which had prevented the agency from insuring mortgages on properties sold within 90 days of acquisition. The waiver, first implemented in 2010 to bolster the flagging housing market, is intended to enable investors to buy and quickly rehab properties as the market continues to struggle.
NEWS
By Jessica Anderson, The Baltimore Sun | March 22, 2012
More Howard County residents are renting out their homes amid the slump in the housing market, local officials say, sometimes leaving a burden of unpaid fees for condo and homeowners associations. The issue has prompted the County Council to consider a bill that would require owners to show that they don't owe any outstanding fees or penalties before they are allowed to rent their properties. The bill would also allow associations to request that the county suspend or revoke existing rental licenses.
BUSINESS
By Hanah Cho, The Baltimore Sun | February 9, 2012
As the federal government and 49 states signed a landmark mortgage relief settlement Thursday, housing advocates and others pointed to shortcomings and raised questions about how the $25 billion plan would be able to provide relief to nearly 2 million current or former homeowners across the country. The nation's five largest loan servicers agreed to provide mortgage reductions, refinancing and other loan modification help to homeowners hurt by the housing collapse. Maryland is expected to receive nearly $1 billion, the sixth-largest share of the total amount, because it was among the states hardest hit by the wave of foreclosures, state Attorney General Douglas F. Gansler said.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | November 9, 2011
State regulators said Wednesday that they have ordered a large mortgage broker to stop making loans to Marylanders after federal investigators alleged the company had violated lending rules. The U.S. Department of Housing and Urban Development announced last week that it was no longer allowing Allied Home Mortgage Corp. to originate loans insured by the Federal Housing Administration because it said the company had played "fast and loose with FHA's standards. " The Justice Department is alleging mortgage fraud in a lawsuit against Allied.
NEWS
March 28, 2010
T he Obama administration has announced a major new effort to stem the foreclosure crisis by focusing on two groups: the unemployed and the rapidly growing share of homeowners who owe more on their mortgages than their houses are worth. Getting banks to temporarily reduce payments for the unemployed fits in with many previous efforts to help those who find they are unable, because of the economic downturn, to meet their mortgage obligations. But the second part of the plan, helping those with so-called "underwater" mortgages reduce the amount of principal they owe, may be more difficult for many Americans to swallow.
NEWS
By Antero Pietila | February 8, 2010
A small paid notice in Wednesday's Sun announced the death of Anne Irene Ruth Salzman at Charlestown Retirement Community. She was 97 and "was preceded in death by her husband of fifty years, Sidney Salzman," the notice said. Missing was the rest of the story -- how the Salzmans in 1941 fought the Federal Housing Administration for the right to live in a neighborhood of their own choosing. Much has changed since then, but studies suggest that each year millions of Americans still face similar discrimination -- not by the government, perhaps, but by the real estate marketplace.
NEWS
July 16, 2002
WITH ROUGHLY 140 foreclosure petitions filed each week, Baltimore is headed for a bumper year in real estate repossessions. That's bad news all around: Buyers lose investments, the federal government must redeem bad mortgages it has guaranteed, and fragile city neighborhoods are confronted with further instability. This flurry of foreclosures comes in the wake of the so-called property flipping (the quick purchase and resale of houses at inflated value) and predatory lending fraud that racked Baltimore from 1996 to 2000.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.