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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.

Houston-based Prosperity Bancshares said it closed its purchase of Lone Star State Bancshares about a year later than initially planned.

The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.

Texas' largest markets saw the least amount of profit gained from flipped homes last year, with Austin even posting a loss, according to Attom.

Three years after the federal relief effort was introduced, close to half of all states continue to accept applications, but New Hampshire and Oklahoma announced pending closures of their programs next month.

The volume of active for-sale condo listings in the Sunshine State increased by 40% last month compared to a year earlier, Redfin said.

Homeowners from Sarasota south to Naples, known for its eight-figure waterfront mansions, are having a tougher time selling their properties, and the buildup in inventory has caused home prices to fall at some of the fastest rates in the nation.

Connecticut issued a cease and desist order, alleging that Loansnap used unlicensed originators to solicit borrowers and accept loan applications in violation of multiple federal laws.

Ohio Gov. Mike DeWine rolled out the Welcome Home Ohio program, a product of the Ohio legislature's biennium budget bill, House Bill 33.

Marina Wiant was named to head California treasurer committees that set the debt limit, determine how the private-activity capacity is deployed and play a critical role in financing the construction of affordable rental housing in the state.

A report from the state's attorney general found Black and Latino households end up paying that combined amount more in origination fees, interest rates and other associated costs, in addition to seeing higher rates of loan denials.