Alphonso Jackson

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New HUD Secretary Announced

Bush chooses Steve Preston, head of government’s Small Business Administration. Read more

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HUD Secretary Alphonso Jackson Resigns

Alphonso Jackson ends four tumultuous years under investigation for conflicts of interest. Read more

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Courts Stop HUD From Eliminating Seller-Funded Down-Payment Assistance

With 100 percent loans out of the picture, builders are happy for the help. Read more

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Subprime Relief is Coming

The White House and members of the mortgage industry have ironed out a deal that will freeze interest rates for certain subprime loans for five years according to multiple media reports. A joint announcement by President Bush, Treasury Secretary Henry Paulson, Housing and Urban Development (HUD) Secretary Alphonso Jackson, and members of the HOPE NOW alliance is expected to come on Thursday afternoon. Read more

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House Blend Briefs

- Owner of Hall Financial Services, a Matthews, N.C.–based mortgage broker, is forced to sell his own home to help reimburse clients as part of a legal settlement. - A recent report by four nonprofit advocacy groups finds that roughly one-third of California's cities and counties now have inclusionary housing programs. - Clise Properties is selling a 13-acre tract in downtown Seattle, according to a report in The New York Times. Read more

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Top Administration Officials Testify on Subprime Crisis

In testifying before Congress today on the subprime crisis, three of the Bush administration's leading authorities on economic and housing issues said they favor working more closely with the Federal Housing Administration as opposed to expanding the role of GSEs Fannie Mae and Freddie Mac. "I prefer using the FHA to solve the subprime problem instead of the GSEs," said Federal Reserve Chairman Ben Bernanke, who testified this morning before the House Financial Services Committee along with Treasury Secretary Henry Paulson, Jr., and HUD Secretary Alphonso Jackson. The testimony from Bernanke and the other administration officials came on the heels of a busy news week surrounding the subprime crisis. Read more

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Weekly media mix of housing market news and notes

June 8, 2007: The NAHB Research Center opens its new testing lab; Biosphere 2 is now in the hands of a developer; mortgage rates continue upward; HUD's chief asks Congress for a loan approval solution; and the NAR predicts a continuing slip in home sales and prices. BUILDER Online catches you up with the news you might have missed. Read more

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White House Proposes a $35.2 Billion HUD Budget

U.S. Housing and Urban Development Secretary Alphonso Jackson unveiled the Bush administration's 2008 budget $35.2 billion request on Monday as the agency seeks to expand homeownership, promote affordable housing, and assist homeless individuals and families. Read more

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Dream Catcher

State and local governments will soon receive their share of the $161.5 million set aside for the federal American Dream Downpayment Initiative, which aims to help first-time buyers achieve homeownership. HUD Secretary Alphonso Jackson believes the initiative will narrow the gap between minority and white home-ownership rates and buoy the overall homeownership rate. Read more

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