Friday, September 22, 2017

HUD ends 32-year receivership of East St. Louis Housing Authority

The Department of Housing and Urban Development took the East St. Louis Housing Authority into receivership in October 1985, citing “years of deteriorating physical conditions, financial mismanagement and a lack of effective leadership.” Ever since then, the East St. Louis Housing Authority has been under HUD control, but on Thursday, HUD returned control of the East St. Louis Housing Authority to local authorities.

[Video] As summer comes to an end, check out the top three stories from this week

This week marked the final week of summer, with Friday being the official first day of autumn. But, before the housing finance industry heads into the fall home-buying season, check out this video to see the top three stories that wrapped up the final week of summer.

Closing rates in August hit highest point since January

Ellie Mae’s latest Origination Insight Report showed much of the loan origination data held steady from July to August. However, closing rates increased during the month to their highest point since the beginning of this year. Here’s the full rundown.

Urban Institute: Here's how HARP gave a much-needed revamp to the refinance market

The number of times the government extended its Home Affordable Refinance Program from its original end date in 2013 is almost comical. However, there’s good intention behind each extension. According to a new blog from the Urban Institute, not only has the government refinance program saved borrowers billions of dollars, but it has also created a better foundation for refinancing government loans going forward.

Are you ready for GSEs' new UCD mandate?

[Expert commentary] The deadline to achieve Uniform Closing Dataset compliance is upon us, and it will prove challenging. Fannie Mae and Freddie Mac’s UCD requirement deadline of September 25 is mere days away. So what are the available options in order to meet the UCD delivery requirements?

ATTOM: Americans want to live in high-risk cities

Footage of natural disasters sweeping across the U.S. and the world in the recent weeks might make one believe that home prices would be lower where such terrible disasters are more prominent; however the opposite is actually true. In fact, ATTOM’s latest report shows home prices actually appreciate much faster in the riskiest cities.

SolarCity agrees to pay $29.5 million to settle allegations of lying to government

SolarCity, the solar energy company that was acquired by Tesla last year, will pay $29.5 million as part of a settlement with the government, which accused the company of lying to the government about the costs of solar energy systems. While that’s the way the Department of Justice framed the settlement, SolarCity tells a different story.