The National Association of Counties has passed a resolution applauding the contribution of seller-assisted downpayment assistance programs to helping hundreds of thousands of low- to moderate-income families become homeowners.The NAC announced the resolution during its 72nd Annual Conference and Exposition in Richmond, Va. "Housing affordability remains a critical problem in many jurisdictions across the country," said Commissioner Grady Prestage, chair of the Community & Economic Development Steering Committee, which sponsored the resolution. "Eliminating downpayment assistance programs would remove a critical tool for creating homeownership and wealth-building opportunities for low- to middle-income families." In May, the Department of Housing and Urban Development proposed a rule that would ban DPA obtained from a gift, loan, or other payment provided by any donor, including a nonprofit group, individual, or homeseller.
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Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
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Developments like the downward swing in total jobs reported Friday, inflation and AI have made nonbank employment more complex and volatile this year.
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Single-family mortgages originated with new scores have been put into private securitizations but these typically have been submitted alongside classic FICOs.
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The collaboration comes after HUD issued several other updates earlier this year aimed at increasing affordability through loosened homebuilding policy.
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Southeast impairments run 150 bps above other regions and alt-doc loans are up 200+ bps since 2025, while DSCR and full-doc improve. Time to review overlays.
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Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
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