USA news on Youtube Apr 17 2018

Confirmed: HUD Misplaced $2 Billion During 2016.

The Department of Housing and Urban Development let nearly $2 billion in federally insured

loans go to nearly 10,000 borrowers who were barred from such funds, a government watchdog

reported Monday.

The loans were distributed in 2016 to 9,507 borrowers who were either delinquent on federal

debt or hadn't paid their child support, according to HUD's inspector general.

The IG reviewed 60 of the nearly 14,000 loans Federal Housing Administration closed in 2016

and found more than three-quarters were given to barred borrowers.

"FHA faced a higher risk due to an increased likelihood of default on the ineligible loans"

the report said.

The borrowers had a delinquency rate "twice as high as those of the general population."

The agency's guidance prohibits lenders from giving out FHA-insured loans to borrowers

with delinquent federal debt, according to the IG report.

The source's lenders used "to identify ineligible borrowers lacked sufficient current

information, and FHA did not adequately guide lenders on reviewing child support," the

report said.HUD requires lenders to check borrowers against an agency database of federal

debtors, but the IG found it "was not an adequate source of information on delinquent

federal debt," the report continued.

Meanwhile, the Department of Treasury houses a "Do Not Pay Business Center" used to

identify potentially ineligible borrowers, which other agencies can use at no cost.

The IG used the center to identify the delinquent borrowers in its report.

"The Do Not Pay databases used for our testing included information on the delinquent federal

debt that was missing from" HUD's database, the report said.

HUD also required lenders to check borrowers' credit reports.

"Credit reports also were not an adequate source of information on federal debt and

delinquent child support," the report continued.Debts owed to the Small Business Administration

and to the Department of Justice didn't appear in credit reports, and student loans

were only sometimes included, the IG found.

The reports did not indicate whether the student loans listed were private or public."All

of this information was included in the Do Not Pay databases for the loans tested,"

the report said.

The IG recommended FHA include the Do Not Pay database during the underwriting process.

A version of this article appeared on The Daily Caller News Foundation website.

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For more infomation >> Confirmed: HUD Misplaced $2 Billion During 2016 - Duration: 2:56.

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BREAKING: North And South Korea To END 65 Year War New Report Says, This Is HUGE - Duration: 2:24.

BREAKING: North And South Korea To END 65 Year War New Report Says, This Is HUGE.

North and South Korea are reportedly discussing plans to formally end the 65-year-old military

conflict between the two countries, South Korean newspaper Munhwa Ilbo reported Tuesday.

Citing an unidentified senior government official with knowledge of diplomacy and security issues,

the easing of military tensions and the end of the military confrontation is a high priority,

on the agenda of the summit scheduled for April 27 between the two leaders, South Korean

President Moon Jae-in and North Korean leader Kim Jong Un.

Newsweek reports that officials of the two countries are busy arranging the summit, according

to South Korean news reports.

Further meetings between representatives of the two Koreas are planned for this week to

finalize the summit's details, such as security protocols and media coverage, while a direct

hotline between the countries leaders is expected to be established by Friday, South Korean

news agency Yonhap reported Tuesday.

The two leaders would meet for the first time in the Peace House, a building on the southern

side of the truce village of Panmunjom, where the warring factions signed an armistice in

1953, three years after the Korean War began.

It would mark the first time a North Korean leader set foot on South Korean soil.

The armistice was never followed by a peace treaty.

The two countries technically remained at war, establishing the 160-mile-long Demilitarized

Zone (DMZ) to function as a heavily guarded border area separating the two countries.

Any talks on formally ceasing hostilities would involve discussing changes to the DMZ.

CNBC reports that Pyongyang and Seoul have technically been at war since the 1950-1953

Korean conflict ended with a truce — and not a peace treaty.

Geopolitical tensions have occasionally flared up since the armistice, although to date both

countries have managed to avoid another devastating conflict.

A successful summit between the Koreas later this month could help pave the way for a meeting

between Kim and President Donald Trump.

The U.S. president and North Korean leader are poised to hold talks in late May or June,

according to the Korean Central News Agency (KCNA).

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