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Fannie Mae expands voucher program for multifamily landlords

Housing Wire

The pilot program incentivizes borrowers of Fannie-backed multifamily loans to accept vouchers as a valid source of income. Fannie said that about 30% of voucher holders are unable to find housing that accepts their vouchers as income.

Landlords 475
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Freddie Mac spurs landlords to report on-time rent payments

Housing Wire

Freddie Mac wants to encourage multifamily landlords to report positive rental payments to the credit bureaus to give renters a better shot at qualifying for a mortgage. Esusu, a credit-building fintech, will deliver the on-time rental payment reports from landlordsproperty management software to the credit bureaus.

Landlords 468
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Opinion: Many mission-based landlords are at a breaking point

Housing Wire

Labor costs for property management have increased nearly 50% in some markets, and security needs and costs have risen, too. At many affordable housing properties, expenses exceed revenues and owners are now forced to feed budgets to cover costs. Most importantly, mission-based landlords are committed to keep residents housed.

Landlords 431
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Improving your real estate technology, from search to sold

Housing Wire

Whether you’re a real estate agent needing to spruce up the yard for an open house or a DIY landlord who needs ongoing yard care for your rental properties, you can manage it all from the TaskEasy app. “Imagine if you could add yard maintenance to your mortgage and amortize it over 30 years.”

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Fannie Mae clarifies ARM interest rate, ups cash-out refi term on manufactured homes

Housing Wire

The update also clarifies the qualifying interest rate for adjustable-rate mortgages (ARMs) with terms of 7 and 10 years, respectively. The new Selling Guide also updates various definitions related to retail mortgage origination, “to remove the references to joint ventures and voting shares,” the update stated.

Retail 475
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Rent reporting platform Boom raises $4.5M in seed round 

Housing Wire

. “We’re gonna do three things with the resources: improve the core product of rent reporting; launch a couple of new products in the pipeline; and go to market, as we haven’t done any consumer and landlord marketing,” Rob Whiting, CEO and co-founder, said in an interview. over the last two years.

Landlords 397
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Bilt Rewards, which converts rent payments into points, hits $1.5B valuation

Housing Wire

The company, which works with some of the country’s largest multifamily developers and property managers, secured $150 million in a growth round led by Left Lane Capital. It factors in interest rates, taxes, personal income and credit profile to determine the mortgage a customer could obtain.

Valuation 370