Articles Tagged With: HUD News

February 29, 2012

HUD Charges Bank Of America With Violations of the Fair Housing Act, Discrimination

FHA loan applicants should know their rights under the Fair Housing Act, which forbids discrimination in the terms and conditions of a loan to an individual based on disability. That includes setting a different standard or requiring different application processes for disabled FHA and conventional loan applicants. Under federal law, it is also illegal for a lender to ask about the nature or severity of a disability except in limited circumstances explained in the Fair Housing Act. The U.S. Department of Housing and Urban Development recently announced it is charging Bank of America with discriminating against homebuyers with disabilities.

November 17, 2011

HUD Clarifies Disaster Relief Rules To Avoid Duplication of Benefits

By Joe Wallace

Earlier this year, we posted on the assistance available to FHA borrowers in the wake of natural disasters in order to avoid FHA loan default, begin the repair and recovery process and deal with insurance claims. On November 17, the FHA and HUD have issued new clarification guidance for disaster recovery benefits. According to HUD press release No. 11-271, the new rules are designed to “ease the burden of complying with federal law prohibiting so-called

September 16, 2011

FHA Loans: Chinese Drywall Update

By Joe Wallace

Earlier this year we posted an update on a study related to contaminated drywall imported from China; the FHA has issued several press releases regarding the contaminated product which may have been used to construct homes eventually purchased with FHA insured mortgages. In May 2010, a U.S. Consumer Product Safety Commission press release identified a group of manufacturers,