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Watchdog Audit Finds HUD’s Policies Did Not Ensure HECM Borrower Compliance

first_img The Best Markets For Residential Property Investors 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Subscribe Tagged with: Home Equity Conversion Mortgages HUD HUD Office of Inspector General HUD Office of Single-Family Reverse Mortgages Servicers Navigate the Post-Pandemic World 2 days ago Related Articles In a recent audit of HUD’s oversight of the Department’s Home Equity Conversion Mortgage (HECM, or reverse mortgage) program, HUD’s Office of the Inspector General (OIG) found that HUD’s policies did not always ensure that borrowers complied with residency requirements, according to a release from the HUD OIG.As a result of borrowers’ non-compliance with the residency requirements, the HUD OIG recommended that these loans be declared in default and payable.The OIG’s objective in the audit was to determine whether HUD’s Office of Single-Family Housing had effective controls in place to ensure that borrowers in the HECM program were complying with residency requirements while they were concurrently receiving assistance from HUD’s multifamily programs with rent. The strategic objective of the HUD OIG is to “protect the integrity of housing insurance and guarantee programs and because of residency issues identified in the prior audits of the HECM program.”The OIG found that in the audit that up to 67 of the 68 borrowers selected for review were not living in the properties associated with their loans because they were receiving assistance with rent at a different address from HUD’s multifamily programs. According to the OIG, servicing lenders independently terminated 18 of the 67 loans during the audit.”We recommend that HUD direct the applicable servicing lenders to verify borrowers’ compliance with the residency requirements or for each noncompliant borrower, declare the loan in default due and payable, thereby putting up to $15.7 million to better use.”The remaining 49 loans were found to have current balances totaling $7.1 million with maximum claim amounts of more than $8.4 million, and as a result those 49 loans should be declared in default and due, and should be payable in order to reduce the risk of loss to HUD’s up to $1.3 million insurance fund.Also according to the OIG, if HUD cannot confirm that borrowers on an additional 642 loans that may have violated residency requirements  are complying with those requirements, the loans should be declared in default and due, and should be payable in order to reduce the risk of loss to HUD’s up to $14.4 million insurance fund.The OIG said these conditions existed because HUD’s Office of Single-Family Housing did not have controls in place to prevent them.”We recommend that HUD direct the applicable servicing lenders to verify borrowers’ compliance with the residency requirements or for each noncompliant borrower, declare the loan in default due and payable, thereby putting up to $15.7 million to better use,” the OIG wrote in the report. “Further, we recommend that HUD implement controls to prevent or reduce instances of borrowers violating residency requirements by concurrently participating in multifamily programs.” About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago August 27, 2015 882 Views The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Watchdog Audit Finds HUD’s Policies Did Not Ensure HECM Borrower Compliance Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Pending Home Sales Rise for the Sixth Time in Seven Months Next: Steady Outflow is Driving Continuous Decline in Foreclosure Inventory Share Save Watchdog Audit Finds HUD’s Policies Did Not Ensure HECM Borrower Compliance Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, News Home Equity Conversion Mortgages HUD HUD Office of Inspector General HUD Office of Single-Family Reverse Mortgages 2015-08-27 Brian Honealast_img read more

Syracuse football: 3 quick takeaways from SU’s 33-7 win over Colgate

first_img Published on September 2, 2016 at 10:11 pm Contact Matt: [email protected] | @matt_schneidman Related Stories Syracuse football rolls to 33-7 win over Colgate in Dino Babers’ SU debut Dino Babers passed his first test as Syracuse head coach with flying colors and the Orange (1-0) trounced Colgate (0-1), 33-7, while flaunting the high-powered offense that everyone inside the program has raved about. Here are three quick observations from SU’s season-opening win.Efficient EricThe sophomore quarterback completed his first 13 passes and while most of them were short throws, a 43-yard dart to Amba Etta-Tawo highlighted Dungey’s opening stint of 2016. His first incomplete pass finally came five seconds into the second quarter on his 14th throw, but he managed to rebound and go 17-of-19 for 192 yards and a touchdown in the first half.In attendance was Dungey’s older brother Matt, who is in the Army and surprised his brother with a visit to the Carrier Dome alongside Dungey’s parents and sister, Emma. All of them witnessed Eric embody efficiency as he orchestrated a fast-paced offense that was finally put to the test after months of hype.Dungey’s most impressive play of the night may have been his fourth-quarter scramble, when he evaded three Colgate defenders before finding Ervin Philips for a 4-yard score to make it 33-7. He finished with two touchdowns while completing 34-of-40 passes for 355 yards, both career highs.AdvertisementThis is placeholder textThe New GuyEtta-Tawo’s previous career-highs in catches and receiving yards were six and 109, respectively. Those two totals came against Syracuse on Nov. 9, 2013 when he was playing for Maryland.He had six grabs for 108 yards and a touchdown in the first half, as the Terrapins graduate transfer caught passes of 43 and 37 yards from Dungey in the opening 30 minutes to establish a connection in their first game as teammates.Etta-Tawo was Dungey’s lone deep threat while the quarterback opted to use Steve Ishmael and Ervin Philips on short- and middle-distance throws. Etta-Tawo added a 28-yard sideline grab in the third quarter and a spectacular 40-yard haul-in while somehow dragging his left foot in bounds minutes later. He finished with 210 yards and a touchdown on 12 catches in an eye-popping debut for the Orange.Swervin’ ErvinBy the end of the first quarter, Philips had already eclipsed his career single-game high for receptions with seven. He was a major benefactor of the quick, pass-happy Syracuse offense, often receiving short-yardage dump-offs from Dungey and turning them into decent gains.He tied Art Monk’s Syracuse single-game receptions record of 14 with his 4-yard touchdown grab early in the fourth quarter but didn’t surpass it since Babers opted for the second- and third-teamers as time wound down in the fourth quarter.Philips’ 87 yards in the air on his 14 catches bested his 2015 season-high by 12 yards in Syracuse’s convincing win over the Raiders. Commentscenter_img Facebook Twitter Google+last_img read more

Join the Geocaching Global Cleanup Called CITO

first_imgCITO Weekend is April 24 – April 27CITO weekend will be here before you know it. In case you haven’t heard, CITO stands for Cache In Trash Out. It’s the geocacher’s approach to keeping our game board (i.e. the entire planet) in great shape. On the weekend of April 24 – April 27, geocachers around the globe will gather together, pick up trash, remove invasive species, repair trails and more—plus earn a pretty sweet new souvenir.Pick up a CITO Event Kit from Shop Geocaching and start planning your CITO weekend event now. All events must be submitted at least two weeks prior to the event date—but earlier is always better. Check out the CITO FAQ to learn more. You can also see a list of CITO events already happening around you.Head over to the Geocaching Facebook page and let us know what your CITO 2015 plans are. Happy Geocaching!(Hier kannst Du den Artikel auf Deutsch lesen)Share with your Friends:More SharePrint RelatedGroundspeak Weekly Newsletter – April 13, 2011April 13, 2011In “Groundspeak’s Weekly Newsletter”Groundspeak Weekly Newsletter – April 18, 2012April 18, 2012In “Cache In Trash Out”Groundspeak Weekly Newsletter – February 2, 2011February 2, 2011In “News”last_img read more

No agriculture minister in Maharashtra for six months

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Homecoming for Asian Games champions

first_imgThe men’s 400m hurdles race at the Asian Games in Guangzhou was supposed to be a straightforward fight between Japan’s Kenji Narisako and Naohiro Kawakita. India’s Joseph Abraham stood no chance of a podium finish, let alone gold.Critics had written off the 29-year-old from Kottayam, Kerala, saying that he was past his prime and winning a medal at a highly competitive event like the Asian Games was beyond him. But Abraham, one of the senior-most members in the Indian athletics contingent, pipped both favourites to finish with gold.While everyone has been busy congratulating Abraham on his feat, he confessed to MAIL TODAY on Monday that after the disappointment at the Delhi Commonwealth Games (CWG), winning the gold and proving to himself that he still was good enough to compete at the international level was the only thing on his mind.”I desperately wanted to win gold and prove to myself that I am not past my prime. The CWG disappointment was still lingering on my mind. I had always wanted to win a medal in front of my compatriots and I was immensely hurt when I failed to qualify for the final at the Jawaharlal Nehru Stadium,” Abraham said.”I would really like to thank my coach who kept insisting that I was good and deserved to win gold. He kept egging me on and asked me to go for gold. Although I was a bit skeptical initially, I gained in confidence after the heats. Having done well in the heats, I was sure that I could finish first if I gave it my best shot.”advertisementBut the simpleton that Abraham is, he says that winning in India would have meant much more that in Guangzhou. “I still feel that winning in Delhi would have meant much more than winning in Guangzhou in front of Chinese spectators. Although there were Indian people in the crowd, but the majority were Chinese while in Delhi, most of the spectators were Indian. Only after landing at the airport on Sunday did it feel good. Even though I would be honest that there weren’t many people who were waiting for our arrival, it still felt good when the ones that were there recognised me, came up to me and congratulated me on my achievements. It always feels good when people of your own country appreciate your efforts,” he said.International sportspersons sometimes give sportsman’s spirit a miss in their bid to rake in laurels but honesty and upholding the spirit of the game have always been Abraham’s strengths.Competing at the 2009 Asian Championships in Guangzhou, Abraham had won the silver in the 400m hurdles behind Narisako.But rather than rejoicing, he was worried because he had accidentally stepped into the inside lane on his way to clearing the last hurdle and he feared that all the hard work that he had put in would go to waste and he would be disqualified.Although the referee didn’t disqualify him, for reasons best known to the referee, Abraham was honest enough to confess that he had been guilty of crossing the lane. Contrast this with Narisako’s celebrations after coming second at the Asian Games, though he had committed a technical infringement. In the end, Narisako was disqualified.While most felt that Narisako looked to be on the verge of overtaking Abraham in the final stretch, the Indian said: “I was not completely balanced after touching the ninth hurdle. As a result, he managed to gain the momentum. But I was always in control and paced my run in such a way that he wouldn’t be able to cross me.”Tactical mishaps had cost Abraham the gold at the Asian All-Star Athletics meet just prior to the CWG. Even during the heats of the CWG, it was a tactical mistake that saw him failing to qualify for the finals. So Abraham made a conscious effort to ensure that he didn’t make any goof-ups in the Asian Games.”Both in the Asian All-Star meet and the CWG, I had failed to strategise, resulting in poor finishes. But this time I was conscious and ran the first 200m without keeping the time in mind. I knew if I could conserve a bit of energy going into the last 200m, I would definitely win the gold and that is exactly what happened,” he said.Looking ahead, Abraham says competing at the 2012 London Olympics and bringing a medal for his country is his ultimate dream. “My concentration will now be solely on competing at the 2012 Olympics and bring home a medal. I will train keeping the Olympics in mind,” he said.advertisementlast_img read more

Cheer for team India

Don’t Understand Why Conflict of Interest Issue Was Created: Mary Kom

first_imgNew Delhi: MC Mary Kom said on Wednesday that she failed to understand why conflict of interest allegations were levelled against her in the issue of her coach Chotte Lal Yadav being in the running for the Dronacharya Award.Mary Kom was part of the committee that recommended names to the Sports Ministry for the Rajiv Gandhi Khel Ratna, Arjuna, Dronacharya and Dhyanchand awards. However, she recused herself from the final meeting of the committee after it had emerged that Yadav was in contention for the Dronacharya Award and that his name had come up after Mary Kom herself recommended it to the Boxing Federation of India (BFI).Yadav’s name was not included in the final list of recommendations that the committee compiled.”It was all very unfortunate. I have previously been the chairman (of the committee) and this is the second time that I have been a part of it. There was no controversy at all. I don’t know what happened this time,” said the Olympic medallist.The six-time world champion also confirmed that it is because of this issue that she decided to recuse herself from the final meeting of the committee.”If I was there, an even bigger problem would have been created,” she said.”This is affecting me. It is not my problem who gets or doesn’t get the award. Those who deserve it should get it,” she added. arjuna awardbfiboxingBoxing Federation of India First Published: August 21, 2019, 6:51 PM IST Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.last_img read more

High Performance Youth And Masters Coaching Positions

first_imgThe previous process held during October of this year resulted in limited expressions, and as a result TFA will re-open the Expression process. Members wishing to express their interest now have until COB Friday, 27 January 2012 to submit the required information.Please click on the attachment for more information. This story was first placed on the website on Friday, 9 December 2011. Related Files2011_coach_re_advert_-_youth__masters-pdflast_img

Judges signal theyll revive Sarah Palin defamation lawsuit

first_imgNEW YORK, N.Y. – A federal appeals panel seems poised to reinstate a defamation lawsuit Sarah Palin brought against The New York Times after hearing oral arguments Friday.A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan found it unusual that a judge tossed the lawsuit last year after hearing testimony from a single witness.The onetime Republican vice-presidential nominee sued over an editorial titled “America’s Lethal Politics.” The editorial was published in June 2017 after a gunman opened fire on Republican lawmakers in Virginia, wounding U.S. Rep. Steve Scalise.The Times’ editorial was corrected twice when readers complained that it appeared to blame a political action committee belonging to Palin for “political incitement” after it distributed a map depicting Democratic lawmakers beneath crosshairs before the 2011 shooting of Democratic U.S. Rep. Gabby Giffords in Arizona.The editorial originally was published online late in the evening. The newspaper issued corrections online the next morning and in print editions the day after that to remove those references and note the map showed electoral districts, not people, in crosshairs.U.S. District Judge Jed Rakoff tossed out the lawsuit last year after conducting a hearing in which he heard testimony from James Bennet, the Times’ editorial page editor. Bennet said he thought the editorial was accurate when he approved its publication but later learned otherwise.Circuit Judge Denny Chin said he agreed that the hearing was unusual.District Judge John F. Keenan, assigned temporarily to the appeals court, said it was “tremendously unusual to have a hearing like this.”Circuit Judge John M. Walker Jr. said Rakoff heard the testimony of the editorial page editor of the Times and “then he decides the position of The New York Times is more plausible than the other side.”The appeals panel did not immediately rule.last_img read more

Torres to reveal new club within 2 weeks

first_imgThe future club of Fernando Torres is set to be revealed within the next two weeks, says his fatherTorres has now left Atletico Madrid after winning his first major piece of silverware with his boyhood club in this season’s Europa League.Since his departure, the former Liverpool and Chelsea forward has been linked with moves to Japan, China and America, as he enters the twilight phase of his career.His father, Jose Torres, is uncertain where exactly his son will now go, but is confident that he will be content with his new club.“I am sure it won’t be in Europe, it will be a long way away. He still doesn’t know, but he will say soon, in the next two weeks for sure,” he told Sport.Atletico president Enrique Cerezo remained evasive over questions regarding Torres’ future destination and instead reflected on the striker’s importance to the club.Gerard Pique, Neymar, BarcelonaLa Liga Betting: Match-day 4 Stuart Heath – September 14, 2019 Despite it being very early into La Liga season, both Barcelona and Real Madrid have had unprecedented starts to their campaigns. With this in…“I’ve been lucky enough that, during his stay here I was vice president and then president, and we have had a fantastic relationship,” said Cerezo.He continued: “At the end of the day, there’s no Atletico supporter who isn’t a Fernando Torres fans as well.”Previously, the J-League had accidentally published an article on their website that confirmed Torres had joined Sagan Tosu.The Japanese football league later issued a statement apologising for the error and claimed that the information was false.last_img read more

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