Hud Certification Test

Front 1

CIVIL RIGHTS ACT 1968

Back 1

prohibits discrimination in house sale, rental & financing based on race, color, national origin, & religion.

Front 2

FAIR HOUSING ACT

Back 2

Imposed obligation on federal agencies to affirmatively further fair housing in the administration of HUD program.

Front 3

HUD ACT 1968

Back 3

Ginnie Mae - expand government secured home for low to moderate income.

Front 4

CIVIL RIGHTS ACT 1964

Back 4

Prohibits discrimination on basis of race, color or national origin in programs & activities that receive federal funding.

Front 5

CIVIL RIGHTS BILL

Back 5

All American born (except Indians) have rights to buy house, land or property. 1866

Front 6

FAIR HOUSING ASSISTANCE PROGRAM

Back 6

provides state & local funding. Supports capacity build, administration costs, investigative, complaint investigation, fair housing enforcement.

Front 7

FAIR HOUSING INIATIVE PROGRAM

Back 7

Prodives funding for victims

Front 8

Separate but equal

Back 8

1896. Justified the government in providing separate programs services & facilities. Including segregated public public accommodations and housing. Brought on redlining.

Front 9

Brown V. Board of Ed.

Back 9

1954. Over turns separate but equal. Government can no longer support segregated programs, services or facilities.

Front 10

Bankruptcy

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Chapter 7 - liquidation all debts forgiven. On credit for 10 yrs.

Chapter 11 - business reorganization

Chapter 13 - payment plan. On credit for 7 years.

Front 11

Streamline 203k loan

Back 11

Permits home buyer & home owner to refinance up to 35k I to their mortgage to repair, improve, update their home. It may be used with EEM loan.

Used: miner rehabs/home improvements that don't require consultants, engineers, and architects. Can use 1-2 contractors or can prove DIY.

Projects completed in 6m

Not used for major remodeling, new construction repair of structural damage or landscaping.

Front 12

FHA 203K

Back 12

(knockdown) Can be used as a refinance or to purchase.

Qualifications: purchase a home needing major repairs. Own a home & want to refinance to conduct repairs

Must ensure that the property value after completion of any repairs & reno supports the mortgage amount, including the cost of the improvements or supports the refinanced mortgage amounts.

Front 13

FHA HAMP LOAN MODIFICATION

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payments no longer affordable reduced by greater of $100 or 10%

Restrictions -

-at least 61 days delinquent, not in foreclosure at modification signing.

-loan aged at least 12m w/ 4m of payments.

-no previous receipt of loan modification w/i 24m

-partial claim not to exceed 30% unpaid balance.

Eligibility -

-financial heartship

-currently employed

-owner occupied

-surplus income over minimum

-successfully complete a 3m trial

Front 14

FHA STANDALONE PARTIAL CLAIM

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Defers some principal so monthly payments are affordable.

-current interest rate is at or below market value

-re-amortizing for 360m at market rate will not work.

-home owner meets requirements of FHA HAMP

-home owner is 61 days or more past due

-creates 2nd mortgage w/ the claim

-no payment or interest due on 2nd until maturity of FHA HAMP or sales/refinance of property

Front 15

Redlining

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The illegal practice of refusing to make residential loans or imposing more onerous terms on any loan made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the residents of the neighborhood in which the property is located

Front 16

Deed restrictions

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Legally enforceable terms that govern the use of property. These terms are transferred with the property deed. Discriminatory deeds are illegal an unenforceable. Also, known as a covenant , conditional, restriction, or restrictive covenant.

Front 17

Blockbusting

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To convince, or attempt to convince,a person to sell or rent a dwellingbecause of the entry, or prospectiveentry, into the neighborhood of aperson or persons of a particularrace, color, religion, sex, familialstatus, national origin, or with adisability

Front 18

Protected classes

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1. Race

2. Color

3. National Origin

4. Religion

5. familial status

6. disability

7. Sex

Front 19

Color

Back 19

Discrimination based on color means discrimination based on thelightness, darkness, or other color characteristics of the person. Althoughrace and color overlap, they are not synonymous. Color discriminationcan occur between persons of different races or ethnicities, or betweenpersons of the same race or ethnicity.

Front 20

Race

Back 20

While categories of race are typically self-identified and self-reported,they are outlined in the U.S. Census as follows: White, Black or AfricanAmerican, American Indian or Alaskan Native, Asian Indian, Chinese,Filipino, Japanese, Korean, Vietnamese, Native Hawaiian, Guamanian,Chamorro, Samoan, and other Pacific Islander. Discrimination based onrace may be directed towards both whites and non-white races.

Front 21

Reasonable Modification

Back 21

A structural modification thatis made to allow persons withdisabilities the full enjoymentof the housing and relatedfacilities

Front 22

Reasonable Accommodation

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A change in rules, policies, practices,or services so that a person with adisability will have an equal opportunityto use and enjoy a dwelling unit orcommon space. A housing providershould do everything to assist a personwith a disability, but is not required tomake changes that would fundamentallyalter the program or create an unduefinancial and administrative burden.Reasonable accommodations may benecessary at all stages of the housingprocess, including application, tenancy,or to prevent eviction

Front 23

Single-Family House Exemption

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- Owns, sells, or rents the house Owns 3 or fewer single family homes at any one time;

- Does not use the services or facilities of a real estate broker; and

- Does not advertise in violation of Section 804(c) of the Fair Housing Act(discriminatory advertising practices).

In other words, an owner with four or more properties is no longer exempt.

Front 24

“Mrs. Murphy” Exemption

Back 24

owner-occupiedbuildings:

◦ Owners with three or fewer rental units are exempt. (i.e., An owner lives in afour-unit building and rents the remaining three units.)

◦ Owners with four or more rental units are not exempt. (i.e., An owner lives ina five-unit building and rents four units.)

Front 25

Religious Organization Exemption

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• Housing is not operated for a commercial purpose;

• Housing is made available only to persons of the same religion; and

• The religion does not discriminate based on race, color, or national origin.

Front 26

Private Club Exemption

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• It is in fact private and not open to the public;

• It provides housing that is incidental to its primary purpose; and

• Housing is not operated for a commercial purpose