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HUD investigates down payment aid programs

Jul 25, 2016
The Department of Housing and Urban Development (HUD) announced that it will investigate accusations that some Federal Housing Administration (FHA) lenders may be discounting guidelines on down payment assistant programs. 
 
HUD’s inspector general raised the issue earlier this year with a report that accused some FHA lenders of charging premium pricing, forcing some low- and moderate-income buyers to get stuck paying slightly higher interest rates. HUD had initially disagreed with the inspector general’s findings, but now the agency says it will investigate further.
 
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Home sales near record high in November

There were 10,719 closed home sales across New York State during November, representing the second-highest total on record for the month. The November sales record of 10,991 was set in November 2016. The statewide median sales price grew by 5.8 percent in November compared to last November. Click here to read more.

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