HUD new rule

Proposed changes to hud disparate impact rule would create new burden-shifting framework to reflect Inclusive Communities. By Richard J. Andreano, Jr. & Christopher J. Willis on August 5, 2019. Posted in CFPB Monitor, Federal CFS Monitor, HUD, Mortgages.

HUD announced Friday that it is proposing changes to its interpretation of the Fair Housing Act’s disparate impact standard, a rule enacted by HUD during the Obama administration and used as a.

The SAFMR rule was first introduced in 2011 in Dallas by the U.S. Department of Housing and Urban Development, or HUD, as an anti-segregation practice, with plans for expansion to a total of 24 markets announced in 2016 following results of the pilot program in Texas.

"The new HUD rule illustrates the importance of the public and private sectors working together to promote government efficiency, to modernize our regulatory system and to reduce cost," said code council chief Executive Officer Dominic Sims, CBO.

This proposed rule would make two changes to HUD’s regulations implementing section 214 of the Housing and Community Development Act of 1980, as amended (Section 214). Section 214 prohibits the Secretary of HUD from making financial assistance available to persons other than United States citizens or certain categories of eligible noncitizens in HUD’s public and specified assisted housing programs.

Because the streamlining final rule includes several new policy options, we will be issuing a special mid-year revision rather than having customers wait for the standard annual revision. We were in the process of formatting the revision when HUD released these two clarifying notices, and are now going back to rework our revisions.

St. Peterburgs Beach FL Refinance My Home | Heath Hall | Mortgage Lender Florida ABC network affiliate serving minneapolis/st. paul area, plus most of Minnesota and western wisconsin. site features local news, weather and sports. Site also includes station information and.

Under the proposed rule consumers must identify the particular policy or practice that causes the disparate impact. consumers will likely not meet the standard – and HUD will not bring. s decision.

the burden shifts to the defendant to justify the criteria used to show there was nothing else they could have done that suited their purposes,” HUD general counsel J. Paul Compton Jr. said in a.

The housing subsidy is then prorated to exclude the ineligible person from the assistance. But HUD’s new rules closes that "loophole." HUD officially proposed changed those rules Friday, publishing.

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A new fair lending rule proposed by HUD is anything but fair. It may help to unleash discriminatory AI in the mortgage market.