HUD Archives: News Releases

HUD No. 04-0317
Matthew Stewart
(904) 232-2627
For Release
March 17, 2004

Federal Strategy Emphasizes Training Mortgage Industry

JACKSONVILLE - The U.S. Department of Housing & Urban Development (HUD) Jacksonville Office joined with the Florida Mortgage Bankers Association, HUD Housing Counseling Agencies, HUD's Atlanta Homeownership Center and their Oklahoma City-based National Loan Servicing Center to decrease the number of FHA foreclosures in Florida through HUD/FHA Loss Mitigation Program Training.

From November 2001 through October 31, 2003, there were 143,170 FHA-insured single family mortgage loans originated in the State of Florida of which 2,931 are now in default and 449 went to foreclosure. Jacksonville/Duval County accounted for about 5% of the total FHA originations in the State and 3.75% were in default or foreclosed. The average default/foreclosure rate for the state was 2.4%. In 2003, FHA loans originated in the State of Florida were valued at $7.7 billion.

The purpose of this training is to increase awareness within the mortgage lending community as to the processes available to avoid adverse consequences of loan default and foreclosure, for benefit of both consumers and the mortgage industry. The Loss Mitigation Training is being held at the University of North Florida's University Center
from 8:30a - 4:30p on Wednesday, March 17, 2004.

Nearly 70 percent of all Americans own their own homes yet slightly less than half of all African-Americans, and right at 50% of Hispanic families, are homeowners. To close this "homeownership gap," the Bush Administration issued a challenge to increase minority homeownership by 5.5 million families by the end of the decade. "We want to
encourage lenders and industry associations to join us as we work to make the dream of homeownership a reality
for anyone who seeks it," said Brian Noyes, HUD's Regional Director for the Southeast/Caribbean.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities, creating affordable housing opportunities for low-income Americans, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as
enforces the nation's fair housing laws. For more information about HUD and its programs, logon to our website: and


Content Archived: March 15, 2011