Daily Archives: April 22, 2016

Advocates Defend Castro, But. . .

A coalition of 14 civil rights groups and housing advocacy groups had some harsh criticism for HUD Secretary Julián Castro earlier this month as they labeled HUD’s Distressed Asset Stabilization Program (DASP) a “Wall Street giveaway” for its tendency to sell delinquent mortgage loans to investors and private equity firms. Some of the groups—even some…

NAHREP: Housing Department needs to provide lenders with greater certainty and clarity

Secretary of Housing and Urban Development (HUD) Julian Castro has recently been the subject of harsh criticism from a handful of non-profit groups in connection to his department’s administration of the Distressed Asset Stabilization Program (DASP). Implemented in 2012, a full two years before Secretary Castro’s appointment, the program was designed to maximize recovery to…