Senate Appropriators Pass HUD FY 2018 Spending Bill, Adopts House Stance on Controversial Fee for IT Upgrades
August 3, 2017
The Senate Committee on Appropriations last week unanimously approved legislation setting aside $40.2 billion in discretionary funding for the Department of Housing and Urban Development for fiscal 2018. The Senate HUD appropriations bill passed by a vote of 31-0 and, like the House version, did not include authority for HUD to charge a fee to cover FHA’s administrative costs and systems upgrades as proposed in the Trump administration’s budget request. Rather, both bills set aside $130 million for administrative expenses with the House adding another $5 million for technological improvements. In addition, the committee recommended...
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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