HousingWire Daily James Kleimann on big cuts at HUD, FHA and the CFPB
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Feb 20, 2025 James Kleimann, Managing Editor at HousingWire, brings deep insights into the recent staffing cuts at HUD, FHA, and the CFPB. He discusses the significant implications these reductions have for housing professionals and the mortgage industry. Kleimann highlights challenges like budget constraints, efficiency issues, and transparency concerns facing these agencies. The conversation also tackles the modernization efforts of HUD and the CFPB, exploring how these changes could affect mortgage costs and compliance for borrowers.
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Social Security Administration Error
- James Kleimann's mother-in-law received a death benefit check from the Social Security Administration for her husband, Michael.
- Michael is alive and well, highlighting potential issues with government agencies and data accuracy.
Waste and Inefficiency at HUD
- HUD has a large staff but reportedly suffers from low productivity and absenteeism.
- While there's potential waste, cuts should be strategic to avoid harming essential functions.
Targeted Cuts at HUD
- Proposed cuts at HUD target civil rights enforcement, housing market data collection, and disaster recovery programs.
- Cutting disaster recovery seems counterintuitive, especially given the increasing frequency of climate-related disasters.