Posted by Anthony Demangone
A short while ago, Steve Van Beek posted some information about FHA violations by 120 lenders. Well, there's more.
Yesterday, HUD made two FHA-related announcements. First, HUD announced that 2008 was a banner year for FHA enforcement.
A record 10,552 fair housing discrimination complaints were filed in fiscal year 2008, according to a report just released by the U.S. Department of Housing and Urban Development. The report, which is produced for Congress each year, shows that a large portion of the complaints, 44 percent, were filed by persons with disabilities. Thirty-five percent, or 3,699, of the complaints alleged discrimination based on race.
Second, HUD announced a media campaign to make people more aware of their FHA rights.
So, let's do the math. HUD had a banner year last year with FHA enforcement. Just a few weeks ago, HUD announced FHA violations by 120 lenders. And there's going to be a media campaign to make consumers aware of their rights. That all adds up to higher compliance risk in the land of FHA.
You may just want to make sure your FHA compliance is up to snuff.
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