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May 2008 Bulletins


NEW STUDY FINDS CONSUMER CONFUSION LEADS TO HIGHER CLOSING COSTS

Released 5/29/08 by HUD


WASHINGTON - Many American consumers overpay by thousands of dollars in total closing costs when they purchase their homes, according to a new nationwide report from the Urban Institute. The study found that there are significant and unsupported variations in loan charges, title fees and other closing costs charged to homebuyers, and that minority borrowers pay hundreds of dollars more in total loan origination fees than do non-minority homebuyers. Full release


BUSH ADMINISTRATION IMPLEMENTS A TARGETED, FINANCIALLY RESPONSIBLE PLAN TO HELP HOMEOWNERS

Released 5/6/08 by HUD


Risk Exposure RESPONSIBLE: The Bush Administration's plan will give the Federal Housing Administration (FHA) greater flexibility to insure mortgages and reduce monthly payments for borrowers with adjustable rate mortgages - without forcing taxpayers to foot the bill. Expanding FHASecure, the government-backed mortgage refinancing product, creates a more viable option for American families who are in the right house but the wrong mortgage, and will help break the cycle of price depreciation and foreclosure. Full release


FHA COMMISSIONER WINS PRESTIGIOUS AFFORDABLE HOUSING AWARD FROM HOMEBUILDERS ASSOCIATION

Released 5/2/08 by HUD


WASHINGTON - HUD's Assistant Secretary for Housing-Federal Housing Commissioner Brian D. Montgomery has been awarded the prestigious Robert J. Corletta Award for Achievement in Affordable Housing. Presented by the National Association of Home Builders (NAHB), Montgomerywas recognized for his commitment to creating more affordable housing opportunities and solutions. Full release


Senate Seeks Additional Boost to Military Pay

Released 5/2/08 by Military.Com


Senate lawmakers backed a 3.9 percent pay raise for all military personnel in their first draft of the fiscal 2009 defense authorization bill. Lawmakers said the 3.9 percent pay raise, 0.5 percent above what defense officials requested, is designed to close the gap between military and civilian pay. Full release


HUD DEPUTY SECRETARY SERVES LUNCH AT AREA SHELTER IN RECOGNITION OF NATIONAL VOLUNTEER WEEK

Released 5/1/08 by HUD


WASHINGTON - U.S. Department of Housing and Urban Development Deputy Secretary Roy A. Bernardi today joined HUD staff to serve lunch at So Others Might Eat (SOME), in recognition of National Volunteer Week.?? SOME is a community-based organization that provides daily needs such as clothing, healthcare, and serves nearly 1,000 meals to men, women, and children each day. Full release

 
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Direct VA Loans web site is a service of the Veteran Services Department of iFreedom Direct Corporation, a lender approved by the VA to originate VA Mortgages. We are not the Department of Veterans Affairs or any other government agency. The Department of Veterans Affairs does not lend money to borrowers. iFreedom Direct is a direct lender originating VA Home Loans across the United States. The Federal Government guarantees our VA Loans. Our primary lending offices are located at: 2363 S. Foothill Drive, Salt Lake City, Utah 84109.
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