Lending

HUD to Scrap Obama-Era Desegregation Rule

The Department of Housing and Urban Development has unveiled a proposed rule that rolls back 2015 fair housing regulations put in place by the Obama administration. So reports The Hill.

The existing regulations, designed to hold local governments accountable for racial segregation in public housing, required municipalities to gather data on segregation and poverty to quality for federal money.

HUD’s new rule would eliminate those regulations and the evaluation tool for tracking segregation in public housing, all of which the department says are “overly burdensome to both HUD and grantees and are ineffective in helping program participants meet their reporting obligations for multiple reasons.”

Peggy Bailey, vice president of housing policy at the Center for Budget and Policy Priorities, said HUD’s move “would seriously weaken community efforts to enable all households to secure housing without facing discrimination.”

Read the full article from The Hill

Related Content

Rates Inch Higher, But Geopolitics Could Help Borrowers

Bill Bodnar of MMG: Rates Remain Steady Amid Lots of Good News

2020 Mortgage Lending Resolutions: 7 Tips for a Successful 2020