HUD Forced to Delay DPA Rule - Mortgage Forums for Mortgage Brokers

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HUD Forced to Delay DPA Rule

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11-02-2007, 10:20 AM

Veronica Corningstone Veronica Corningstone is offline

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HUD Forced to Delay DPA Rule

Genesis Foundation Inc. and Home Downpayment Gift Foundation Inc. announced that a federal court granted their request for a temporary injunction against the Department of Housing and Urban Development's rule ending seller paid down payment assistance. HUD had granted two other DPA firms a four month wavier. Genesis and Home Downpayment said borrowers were not adequately being represented by the status of existing lawsuits and that HUD was engaging in "improper selective enforcement" by refusing to apply the new rule equally to all seller-funded DPA providers.

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