Donovan: Sequestration could devastate Fed housing programs

In written testimony before the senate committee (February 14th), Secretary Shaun Donovan of U.S. Department of Housing and urban development (hud) stated that approximately 125,000 individuals and families "could lose assistance provided through the Housing Choice Voucher (HCV) program and be at risk of becoming homeless" due to March 1.

Public housing residents who owe back rent will be the first evicted if the city is forced to scale back its rental subsidy program because of federal sequestration cuts, city officials said.

Sequestration would be disastrous to the project-based Section 8 and other affordable multifamily housing programs. o It puts jobs, housing for low-income families, and the integrity of federal programs at risk. o At an industry presentation in September, HUD Secretary Shaun Donovan announced that sequestering

The annual Kansas City Fed conference. and Housing Secretary Shaun Donovan.. SUNDAY SHOWS RECAP – The chaos in Egypt and the NSA’s surveillance program dominated the Sunday shows this weekend..

More refinancing homeowners choose shorter loan terms BofA Rolls Out $8.4 Billion Loan Mod Program Top Bank of America loan modification problems include denying qualified applicants and delaying. of America’s problems can be sourced back to their decision to purchase the troubled Countrywide Financial for $2.5 billion in 2008.. As the largest mortgage servicer in the HAMP program, Bank.FDIC Warns Banks on HELOC Freezes, REO management private sector gains 130,000 jobs in October Dutchess in 2017 had 16,617 health care jobs in 2017, part of a total 130,000 jobs in the field in the Hudson valley region 17 percent of all private-sector employment, according to DiNapoli’s.Natural hazards increase propensity of mortgage default Given the lack of available property-specific hazard risk analysis to date, standard methods of assessing a borrower’s propensity to default on a mortgage have failed to account for the potential impact of a devastating natural disaster event in calculations of expected loss risk.

Air Force chief: Budget caps would devastate the Air Force’ – House and Senate leaders prefer a two-week continuing resolution to buy time for a deal to fund the federal government for. the next most harmful scenario, and could especially effect procurement,

National foreclosure inventory drops: LPS Completed foreclosures averaged just 21,000 per month, nationwide, between 2000 and 2006. “The number of seriously delinquent mortgages continues to drop across the. Since August, national.

Ensuring NAHMA Members Receive the Latest News and Analysis of. against enacting sequestration for housing programs when testifying before Congress. He called. Sequestration Would Devastate Low Income Housing Programs." National Low-Income Housing Coalition,

Despite recent research that the impact of the President’s proposal would be minimal and potentially would undo the negative budget impacts of sequestration. contrary, federal programs such as the.

HUDs Affordable Housing Crisis Why Sequestration Will Hit Housing on Several Fronts – CNBC – One of those programs that has been instrumental in the housing recovery is the government’s insurer of home mortgages, the Federal Housing Administration (FHA).

The market has reacted to the imminent sequestration deadline with a lackadaisical. Hit rewind, and recall that Fed Chairman Alan Greenspan failed to detect another big bubble: housing. Bernanke.

sequestration could send serious ripple effects throughout the public and private sectors. This isn’t simply limited to government agencies and services. Take defense contractors, many of which are.