Lennar subsidiary Eagle Home Mortgage fined $13.2 million for FHA lending violations

It appears the False Claims Act ain’t dead yet. The Department of Justice announced Friday that it reached a $13.2 million settlement with Universal American Mortgage Company, the mortgage subsidiary of Lennar that does business as Eagle Home Mortgage, to resolve allegations that the lender violated the False Claims Act by falsely certifying that it complied with FHA lending standards.

Harvard: Housing market slowdown will dampen renovation boom

American spending on home improvements and repairs has seen steady growth as the slow housing market has convinced many to stay put and renovate instead. But this growth is expected to slow in the coming year, according to a new report released by the Joint Center for Housing Studies of Harvard University.

Risks Worth Considering for Self-Managing the HOA

On the surface, managing the homeowners association may seem simple and straightforward. Many HOA boards think they have it all together and can easily manage the HOA on their own. After all, can’t their community be self-managed? Is it required to hire an HOA management company? The answer isn’t that simple and there are factors that need to be considered before going down the road of self-managing the HOA. Unfortunately, there are several significant risks HOA boards take on when they choose to be self-managed. Knowing those risks is important for making a wise decision about your HOA management needs. Some of these risks are minor, but some can cause tremendous financial and legal problems.   Read the article………………

Which Rule Rules?

A dustup at the Village Dunes co-op in Montauk highlights the differing standards that may govern the enforceability of decisions made by co-op boards.  This dispute began when a shareholder sought the consent of the co-op board to make alterations to his apartment, including raising the ceiling of the apartment, enclosing an unfinished common area above the apartment for his exclusive use, and replacing a window with one of a different type and size.    Read the article………………

Five Essential Dos and Don’ts of Great Board Members

….Read the article………………Great board members understand that they can take comfort in following the advice of the association’s attorney or accountant, or the treasurer’s statement that the books of account are correct. Unfortunately, too many board members believe that the attorney’s advice is “just his opinion, and my opinion is equally valid.”No, it’s not.Attorneys are specifically trained in matters of law, and community association attorneys in matters specifically relevant to you.To ignore that advice is to risk liability by the association or yourself. You’re a volunteer.You should not place yourself at unnecessary risk.

8 Ways To Be The Best Homeowner In Your Community

Many people believe that homeowners association communities are too strict. The HOA board takes following policies too seriously, overcharges monthly fees, and puts holds on your access to amenities.  Most of the time, this isn’t the case.  According to the Community Associations Institute, 90 percent of people say that they’re on good terms with HOA board members.  To help you be a better neighbor, here’s a basic list of tips from IKO Community Management.     Read the article………………

Architectural Control Committees Serve a Need

Q. We live in a homeowner association and I have just been appointed to the architectural control committee. Some of the homeowners do not want such a committee, and many owners just ignore the process when they make exterior changes.  Our declaration of covenants requires advance approval before any such changes or additions can be made. Many people do not understand the concept of belonging to an association and when we try to explain, they become hostile.  How do we get homeowners to understand that this is not unique to our development?    Read the Q&A……………..

Navy Federal Credit Union names Mary McDuffie president and CEO

Navy Federal Credit Union is about to have a new leader. The world’s largest credit union announced Thursday that it is promoting Mary McDuffie to serve as its new president and CEO. Previously, McDuffie served as the credit union’s chief operating officer.

Washington Post: Trump administration backtracks on curious HUD staffer move

On Wednesday, it was initially reported that HUD’s Assistant Secretary for the Office of Administration Suzanne Israel Tufts was moving to the Interior Department to serve as acting inspector general overseeing four investigations into Secretary Ryan Zinke’s conduct. However, as of Thursday, that’s now a different story.