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Showing posts with label state. Show all posts
Showing posts with label state. Show all posts

Tuesday, March 12, 2013

Report: HUD Taking Steps to Enforce Fair Housing Act


Compared to previous administrations, the Obama Administration's efforts have proven to be more vigorous in enforcing state and local governments to comply with fair housing obligations through the Department of Housing & Urban Development (HUD). There was a recent report by three different national civil rights organizations that find Obama to be doing superior work toward improving housing conditions across the country. However, despite these high marks, the report also noted that there is plenty of "unfinished business" for HUD to attend to, including finalizing a regulation codifying its grantees' obligation to further fair housing.

“This report indicates that HUD has, for the first time, taken significant actions to enforce the Fair Housing Act’s requirement that recipients of federal housing assistance affirmatively further fair housing,” said Joe Rich, director of the Fair Housing and Fair Lending Project at the Lawyers’ Committee for Civil Rights Under Law. “Such action is important in achieving the goal of the Act to provide fair housing throughout the country. But, it is also important that HUD release its long awaited regulation addressing this requirement.”

There are plenty of things that HUD has done already, including their participation in increased enforcement in federal court cases. They've processed and investigated private fair housing complaints, and adopted a "disparate impact" rule that codifies existing court interpretation of the Fair Housing Act. HUD has also increased its review and rejection of state and local "Analyses of Impediments" to Fair Housing, which is a requirement of federal housing. Additionally, HUD has undertaken compliance reviews that have resulted in voluntary compliance agreements addressing fair housing requirements.

All in all, the civil rights groups are pleased with HUD's leadership. In the past, many of these enforcement actions were completely avoided, but today's HUD is determined to reform its own programs to improve fair housing for all.

In one case, HUD helped to persuade a suburb of New Orleans to repeal a discriminatory zoning ordinance that had previously excluded African American families from the area. HUD promotes racial integration in housing, even though it has been moving at a slow pace. If HUD can pick up the pace in the areas that are still lacking, residential integration can be reached.

“Our families, our communities, our economy and our country are all enriched and strengthened when we have open access to healthy, diverse neighborhoods,” said Shanna L. Smith, president and CEO of the National Fair Housing Alliance. “HUD has a critical role to play in making sure that state and local governments are doing all they can to create diverse communities and make sure they are open to everyone. The rule to affirmatively further fair housing is needed to provide jurisdictions with clarity about their obligations and guidance about how to achieve this important goal.”

Friday, January 6, 2012

Current State of the Mortgage Banking Industry

As a Mortgage Professional yourself, you are likely aware of all the economic issues going on in our country. We at Quest Loans found this article to be informational. It discusses the state of the industry regarding the loan process, the new LO compensation reform, and more.  The following is an excerpt of the article written by Leif Boyd.

"As we look at the current industry and where it will likely head over the next few years, many brokers have more questions than answers. Companies, brokers and loan officers are still figuring out how loan originator (LO) compensation reform will impact their balance sheets and wallets. As the government and banks have continued to add more requirements to get loans approved, it has become harder for once-qualified individuals to get loans. A few large companies seem to control a large share of the market."

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