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California lawmakers have sent a bill to Governor Gavin Newsom's desk that would expand a state-backed down payment assistance program to undocumented immigrants who are looking to buy a home.

The scam involves unlicensed lenders offering phony warehouse lines of credit that have led to monetary losses in the thousands and the compromise of confidential borrower information.

Economists are also forecasting faster and deeper cuts to borrowing costs over the next year, and see the central bank reducing the policy rate from the current 4.5% to 3% by next July.

The litigation involved more than 100 loans, many insured by the Federal Housing Administration, with volume totaling approximately $55 million.

The number of properties sold over the past year was the fewest since 2009, the National Association of Realtors said.

Between two state measures and one regional, California starts with $40 billion of GO bonds on the November ballot, before any other local measures are tallied.

Rider University, a small private college outside of Trenton, New Jersey, is trying to raise additional funds to help an ongoing liquidity crunch. 

The Massachusetts House passed a bill that would ease the process for property owners looking to build accessory-dwelling units.

St. John's Lutheran Church in Madison is redeveloping its property to build affordable housing blocks from the Capitol in the booming East Washington corridor.

Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.