Nine national organizations are pledging to raise $37 million in grants and loans to provide "supportive housing" for homeless people and to work together in a new partnership to end homelessness.Approximately 250,000 individuals and as many as 30,000 families are believed to face long-term homelessness, according to the new Partnership to End Long-Term Homelessness. Supportive housing combines permanent housing with health, social, and employment services. "We encourage other foundations, corporations, and providers of national, state, and local levels join us and work together to put in place a solution to chronic homelessness," said Risa Lavizzo-Mourey, president of the Robert Wood Johnson Foundation. Other partners include Fannie Mae and its foundation, Deutsche Bank, The Conrad Hilton Foundation, The Rockefeller Foundation, and Melville Charitable Trust. The new partnership will also strive to increase public funding for supportive housing
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The Community Home Lenders of America and the Community Associations Institute want the FHA to insure loans on condos approved by Fannie Mae and Freddie Mac.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Most lenders said they had already priced in the widely-anticipated decision to cut short-term rates for 30-year home loans but other products will benefit.
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The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.
September 17 -
Mortgage applications saw a significant jump for the second consecutive week, as homeowners took advantage of plummeting rates, the MBA said.
September 17 -
The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.
September 17