{"id":1505,"date":"2017-03-02T00:00:00","date_gmt":"2017-03-02T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/ben-carson-confirmed-as-hud-secretary\/"},"modified":"2017-03-02T00:00:00","modified_gmt":"2017-03-02T00:00:00","slug":"ben-carson-confirmed-as-hud-secretary","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/ben-carson-confirmed-as-hud-secretary\/","title":{"rendered":"Ben Carson Confirmed as HUD Secretary"},"content":{"rendered":"

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\"\"The U.S. Senate today confirmed retired pediatric neurosurgeon Ben Carson to be the 17th secretary of the Department of Housing<\/a> and Urban Development. The vote was 58 to 41. A simple majority of 51 votes was needed to confirm him.<\/p>\n\n

In his confirmation hearing before the Senate Banking Committee last month, Carson took a number of positions that align with the market priorities of the National Association of REALTORS\u00ae. Among these, he said all Americans should have an opportunity to own a home, and he called the 30-year fixed-rate mortgage<\/a> one of the cornerstones of the American dream of homeownership. He also said he wants to maintain a federal backstop in the secondary mortgage market while continuing to find ways to get more private insurers in the market. Right now, the bulk of mortgage-backed securities are backed by Fannie Mae and Freddie Mac, the government-sponsored entities presently under federal conservatorship, and Ginnie Mae, the guarantor of the FHA and other federally insured home loans<\/a>. More on Carson\u2019s confirmation hearing.<\/p>\n\n

Carson, who grew up in public housing in Baltimore, said he wants to\u00a0 create partnerships that will help improve the lives of people living in underserved communities.<\/p>\n\n

HUD has a fiscal year 2017 budget of $49 billion and is the federal agency that oversees the FHA, enforces federal fair housing laws, and provides financing<\/a> for privately owned low- and moderate-income rental housing and tenant-based housing assistance. It also provides resources to the country\u2019s stock of public housing. In addition, it administers housing and community development grants to states and localities.<\/p>\n\n

NAR President William Brown congratulated Carson on his confirmation and said he looks forward to working with the secretary on the many challenges facing real estate<\/a> in the years ahead. \u201cWe applaud Dr. Carson\u2019s commitment to the challenges that lie ahead,\u201d Brown said. \u201cWe know that the policies set in Washington can make a real difference for individual Americans as they work to realize the dream of homeownership for themselves. We\u2019re committed to helping them get there, which means addressing the hurdles buyers, current homeowners, and investors face in the marketplace. Housing inventories are tight and mortgage credit is hard to come by, and at the same time far too many buyers are saddled with high rents and student debt that stand in the way of saving for a down payment.\u201d<\/p>\n\n

One of the first items NAR would like to see Carson address is the quarter-point reduction in FHA mortgage insurance<\/a> premiums. In one of its last actions under President Obama, the FHA reduced the annual premium, saying the time is right because the insurance fund is healthy and it would save borrowers an average of $500 a year. The Trump administration suspended the decrease, and Carson, at his confirmation hearing, said he supported the suspension while he determines whether to go forward with it. More on the FHA premium cut.<\/p>\n\n

\u2014REALTOR\u00ae Magazine<\/em><\/p>\n<\/div>\n \n \n<\/pre>\n\n<\/div>\n\n\n
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[ad_1] The U.S. Senate today confirmed retired pediatric neurosurgeon Ben Carson to be the 17th secretary … Ben Carson Confirmed as HUD Secretary<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1506,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,518,1403,1399,625,12908,543,627,344,698,604,408,1007,41,818,84,678,907,842],"class_list":["post-1505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-america","tag-buy","tag-development","tag-down-payment","tag-home","tag-home-buying-guide","tag-homeowners","tag-housing","tag-insurance","tag-loans","tag-mortgage","tag-owners","tag-property","tag-real","tag-real-estate","tag-rental","tag-tenant","tag-trump"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Ben_Carson_Skidmore_creative_commons.jpg?fit=453%2C599&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":625,"url":"https:\/\/amazingproperty.com.ng\/blog\/buy-a-home-with-no-monthly-payments\/","url_meta":{"origin":1505,"position":0},"title":"Buy a Home With No Monthly Payments?","author":"Amazing Property","date":"February 3, 2017","format":false,"excerpt":"Reverse mortgages for purchases have been around a while but they stand to see more use as younger baby boomers hit retirement age. The mortgages are backed by FHA and they let households buy a home without having to make monthly mortgage payments. Instead, buyers put up a fairly sizable\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4599,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-word-from-d-c-foundation\/","url_meta":{"origin":1505,"position":1},"title":"The Word From D.C. Foundation","author":"Amazing Property","date":"May 16, 2017","format":false,"excerpt":"\u201cHomeownership serves as the foundation of wealth for most American families.\u201d \u00a0\u0336 HUD Secretary Ben Carson In Support of the Dream HUD Secretary Ben Carson at the Regulatory Issues Forum. Photo credit: Jon Boughtin Responsible homeownership plays a crucial role as an engine of economic growth and in the financial\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/DN_midyear_BenCarson.jpg?fit=400%2C242&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6036,"url":"https:\/\/amazingproperty.com.ng\/blog\/hud-to-make-reverse-mortgages-tougher\/","url_meta":{"origin":1505,"position":2},"title":"HUD to Make Reverse Mortgages Tougher","author":"Amazing Property","date":"August 31, 2017","format":false,"excerpt":"The Department of Housing and Urban Development says it\u2019s planning to raise premiums and tighten loan limits for seniors who use reverse mortgages, announcing the changes this week in a letter to lenders, The Wall Street Journal reports. \u201cGiven the losses we\u2019re seeing in the [reverse mortgage] program, we have\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"aug17_DN_rev_mort.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/aug17_DN_rev_mort.jpg?fit=830%2C390&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/aug17_DN_rev_mort.jpg?fit=830%2C390&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/aug17_DN_rev_mort.jpg?fit=830%2C390&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/aug17_DN_rev_mort.jpg?fit=830%2C390&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":4584,"url":"https:\/\/amazingproperty.com.ng\/blog\/championing-real-estate-in-d-c\/","url_meta":{"origin":1505,"position":3},"title":"Championing Real Estate in D.C.","author":"Amazing Property","date":"May 5, 2017","format":false,"excerpt":"[ad_1] Nearly 9,000 REALTORS\u00ae and state and local association executives are in Washington, D.C., this week to make their voices count on Capitol Hill. At the REALTORS\u00ae Legislative Meetings & Trade Expo, members and leaders will gather to advance real estate and policy issues, including tax reform, credit and lending\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Ben_Carson_Skidmore_creative_commons.jpg?fit=453%2C599&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5987,"url":"https:\/\/amazingproperty.com.ng\/blog\/harvey-sparks-flood-insurance-disaster\/","url_meta":{"origin":1505,"position":4},"title":"Harvey Sparks Flood Insurance Disaster","author":"Amazing Property","date":"August 28, 2017","format":false,"excerpt":"\u00a0 \u00a0 Only 15 percent of homeowners in Houston have flood insurance on their properties. The city is under two feet of water after Hurricane Harvey ravaged the Texas coastline over the weekend. (Getty Images) \u00a0 The majority of the thousands of Texas homes submerged in floodwaters after Hurricane Harvey\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Harvey.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Harvey.jpg?fit=400%2C266&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1276,"url":"https:\/\/amazingproperty.com.ng\/blog\/fha-strong-enough-for-mip-cut-analysis-suggests\/","url_meta":{"origin":1505,"position":5},"title":"FHA Strong Enough for MIP Cut, Analysis Suggests","author":"Amazing Property","date":"February 24, 2017","format":false,"excerpt":"[ad_1] Is now a good time for FHA to reduce hurdles to homeownership with a lower mortgage insurance premium? NAR says yes, but the Trump administration and some members of Congress aren\u2019t so sure. On Inauguration Day, the U.S. Department of Housing and Urban Development suspended a planned reduction in\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=1505"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1505\/revisions"}],"predecessor-version":[{"id":89838,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1505\/revisions\/89838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/1506"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=1505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=1505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=1505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}