Word: hud
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Donovan, who served as Commissioner of the New York City Department of Housing Preservation and Development beginning in 2004, was appointed by President Barack Obama to lead HUD through a severe housing crisis that has contributed to the worst economic slowdown since the Great Depression...
...secretary is sort of the fresh face of HUD,” said Ivan Levi, a second-year student at the Graduate School of Design seeking a master’s degree in urban planning. “To have him at the helm of that agency bodes well for the future of that agency and hopefully for this country...
...When I graduated from college in 1968, I spent two years working in the U.S. Department of Housing and Urban Development as a representative to local communities in Philadelphia. Forty years later, I am reminded of this brief immersion in federal service as I have the opportunity to welcome HUD Secretary Shaun Donovan ’87 to campus on Thursday as part of Public Service Week...
...either. On Tuesday, July 28, executives from firms such as Citigroup, JPMorgan Chase and Wells Fargo were invited to a meeting at the Treasury Department for a little pep talk about increasing the number of loan modifications. Officials at Treasury, along with the Department of Housing and Urban Development (HUD; co-host of the head-knocking session), have been underwhelmed by the rewrites. The government's original goal was to get more-affordable monthly payments to 3 million to 4 million borrowers. As of mid-July, modification offers had gone out to 350,000 borrowers, but only 180,000 trial...
...What accounts for the disappointing pace? According to Treasury and HUD, servicers aren't spending enough money or energy to make the program work. Treasury and HUD want the companies to add more staff, expand their call centers, train their representatives better, put more information online and create a system for dissatisfied borrowers to appeal their cases. To shame the firms into better participation, the government said that in August it will start revealing the number of modifications at each company and the long-term success of those rewrites...