Housing Wire

JUNE 6, 2024

A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). Local governments are uniquely positioned to help residents through the daunting process of building an ADU.

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Miller Samuel

JULY 19, 2021

To all members of the Appraisal Institute: Before I start, I wanted to share what the Appraisal Institute's MAI designation is referred to by many of its members. The NNC is one of the good governance things that happens in Chicago. that MAI stands for: MORE ANNUAL INCOME. MADE AS INSTRUCTED. MORE AMORIN INFLUENCE.

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Housing Wire

JUNE 5, 2024

Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).

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Housing Wire

MAY 8, 2024

Fannie Mae announced on Wednesday the availability of a new web-based option for its income calculator tool, which is designed to “help mortgage professionals serve the growing number of mortgage applicants in the U.S. who are self-employed and don’t have traditional sources of income,” according to the government-sponsored enterprise (GSE).

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Housing Wire

MARCH 5, 2024

Department of the Treasury on Tuesday announced a series of new initiatives designed to increase the supply of affordable housing across the country. There are three core provisions of the plan.

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Housing Wire

DECEMBER 20, 2024

And actual robotic assistance is something being developed in other parts of the world, including through government endorsement of the idea. These include the active encouragement by the governments of the countries examined to construct robots for social utility, including for in-home care.

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Housing Wire

DECEMBER 6, 2023

Government-sponsored enterprise (GSE) Freddie Mac on Wednesday announced further enhancements to its Condo Project Advisor tool that are designed to “streamline” such loan originations and to offer lenders “greater security” through a new designation, according to an announcement.

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Housing Wire

JANUARY 5, 2021

Conventional loans aren’t insured by the government but are backed by private lenders. That said, because conventional loans aren’t guaranteed by the government, they are usually harder to qualify for. For example: Typical down payments. What type of loan: Conventional loan. Lower down payments. What type of loan: FHA loan.

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Housing Wire

FEBRUARY 12, 2024

The statement is designed to clarify standards by which entities under the purview of individual regulators violate applicable rules and regulations. These standards can harm a residential lender beyond any identified violations, the statement explained.

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Housing Wire

OCTOBER 2, 2023

Rocket’s move shows that the mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 3.3% in 2024 (the current limit on conventional loans is $726,200).

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Housing Wire

AUGUST 6, 2024

A policy designed for lenders to review and respond to borrower-initiated reconsideration of value (ROV) requests for appraisals — originally scheduled to be implemented between Aug. 29 and Sept. 2 — has been pushed back to Oct. The policy — announced in May by the U.S.

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Housing Wire

OCTOBER 23, 2020

Guild agreed to settle the federal lawsuit, brought by the Department of Justice , for just under $25 million, the government said Thursday. We also commend the whistleblower for coming forward, exposing these wrongs, and working with the government investigative team.”. It did not admit to any wrongdoing.

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Housing Wire

APRIL 17, 2024

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. This is specifically designed to benefit consumers during the high rate environment, the agency said. “In

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Housing Wire

SEPTEMBER 27, 2023

Government-sponsored enterprise (GSE) Fannie Mae announced on Wednesday that it will launch new programs and resources designed to tackle the homeownership gap experienced by the Latino community , designed to “to provide responsible access to housing and long-term sustainable homeownership opportunities.”

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Housing Wire

APRIL 18, 2024

These include oversight of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac , mortgage purchases designed to improve affordability for low-income homeowners, vendor partnerships and investments in the Low-Income Housing Tax Credit (LIHTC) program. The GSEs also “invested over $1.7

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Housing Wire

MARCH 13, 2023

While the FDIC — an independent government agency that insures bank deposits and overseas financial institutions — declined to comment on Mayopoulos’ role, his career has been focused on financial and legal expertise. an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB).

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Housing Wire

OCTOBER 18, 2021

Forbearance declined across the board this week as government agencies and industry stakeholders chart a path out of forbearance and into loss-mitigation. The forbearance rate for loans not backed by the government, either because they are held in portfolio or are private-label securities, also declined by 108 basis points to 5.34%.

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Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders.

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Housing Wire

JANUARY 29, 2024

billion in homelessness aid to communities across the country through its Continuum of Care program, which is designed to provide housing assistance and/or support services to people experiencing homelessness. Department of Housing and Urban Development (HUD) announced on Monday that it will distribute $3.16

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Housing Wire

MAY 15, 2024

The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.

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Appraisal Buzz

JUNE 7, 2024

The Conventional MCAI climbed by 0.3%, while the Government MCAI fell by 0.1%. Conventional, Government, Conforming, And Jumbo Mcai Component Indices The MCAI rose by 0.1% The Conventional MCAI increased 0.3%, while the Government MCAI decreased by 0.1%. The index was benchmarked at 100 in March 2012.

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Housing Wire

NOVEMBER 6, 2023

Nearly 50 interviews from staff members in the federal government, financial technology companies, mortgage lenders and consumer advocates found that the ability of AI to improve racial equity can be undermined by the data used to train the algorithm, not just by the algorithm itself.

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Housing Wire

NOVEMBER 25, 2024

The Federal Housing Finance Agency (FHFA) on Monday unveiled its three-year plan for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to improve housing opportunities in underserved areas.

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Housing Wire

JUNE 1, 2023

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

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Housing Wire

DECEMBER 10, 2020

To inject some life back into the economy, Bernanke decided to grow the Fed’s balance sheet by purchasing government bonds and mortgage-backed securities, better known as quantitative easing. This unconventional monetary policy is designed to encourage lending and investment, adding money back into the economy and lowering interest rates.

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Housing Wire

MAY 27, 2022

The CFPB, a government watchdog agency, said lenders aren’t absolved from adverse action notice requirements under the Equal Credit Opportunity Act if they use complex algorithms, which Rohit Chopra, the director of the CFPB, has dubbed “black-box models.”. The requirement also applies to mortgage lenders, legal experts say.

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Housing Wire

JULY 23, 2024

Obtaining rep and warrant relief directly from the [ government-sponsored enterprise (GSE)] is a powerful option,” he said. Fannie Mae introduced the income calculator last year, and the new web-based option is designed to reduce loan defects that are more likely for borrowers with nontraditional sources of income.

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Appraisal Buzz

NOVEMBER 20, 2024

percent, while the Government MCAI increased by 0.4 percent, while the Government MCAI increased by 0.4 The Conventional, Government, Conforming, and Jumbo MCAIs are constructed using the same methodology as the Total MCAI and are designed to show relative credit risk/availability for their respective index.

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Housing Wire

FEBRUARY 5, 2024

These shifting dynamics are causing the California state government to work to ensure that certain issues that can stem from such a demographic development — particularly for health care, housing and social services — are addressed in a comprehensive statewide initiative called the “Master Plan for Aging.”

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Housing Wire

SEPTEMBER 17, 2024

The federal government is launching a campaign on Zillow to help provide housing counseling services to more Americans. At Zillow, we are committed to getting more people home,” said Jennifer Butler, VP of government affairs at Zillow. “We The Department of U.S.

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Housing Wire

MARCH 18, 2024

Intercontinental Exchange (ICE) Mortgage Technology introduced two new tools, Validate ROV and Validate Selector, to its growing suite of property valuation solutions, the company announced on Monday.

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Housing Wire

APRIL 25, 2024

HUD also published guides designed to assist with mobility improvements and decarbonization of existing transportation systems. The department said it aims to alert communities about important elements of post-disaster resilience that research has shown are often overlooked or less understood in the immediate wake of a disaster.

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Housing Wire

FEBRUARY 27, 2023

government. Even after the 2015 law enforcement order, RMK continued to lie to military families by falsely implying government endorsement of its home loans,” CFPB Director Rohit Chopra said in a statement. The CFPB ordered RMF at that time to end its illegal and deceptive practices and pay a civil penalty of $250,000.

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Housing Wire

AUGUST 24, 2020

Originally introduced in April, the MISMO RON compliance certification was designed to assure RON tech providers meet a universal set of standards including credential analysis, borrower identification, capturing and maintaining a recording of the notary process electronically, audio and video requirements, record storage and audit trails.

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Appraisal Buzz

DECEMBER 10, 2024

With mortgage rates likely to ease only modestly next year, these marketsoffering relatively lower-priced homes, more new and existing houses to choose from, and mortgage products designed to give buyers a leg upcould provide some would-be buyers a better chance at entering the market next year. Miami leads with 42.7%

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Housing Wire

DECEMBER 7, 2021

We must implement race sensitive policies and programs that directly address the racial wealth gap and are explicitly designed to bring opportunities to those the government and private players explicitly excluded,” Rice wrote. Rice said that well-intentioned affordable housing programs alone are insufficient. “We

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Housing Wire

JULY 19, 2024

This move is designed to “create an additional economic incentive to protect Ginnie Mae and taxpayers against a decline in collateral value,” Ginnie Mae explained when announcing the proposed term sheet. Look for more from Leo Wong on the topic of HMBS 2.0

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