U.S. Housing and Urban Development Secretary Shaun Donovan has proposed an initiative designed to ensure its "core housing programs are open to all, regardless of sexual orientation or gender identity." The proposed rule will be open to public comment. In addition, HUD said it would commission the first-ever national study of discrimination against members of the lesbian, gay, bisexual and transgender community in the rental and sale of housing. Mr. Donovan said evidence shows "some are denied the opportunity to make housing choices in our nation based on who they are and that must end." Few state and local studies exist, HUD said, but for example, a study by Michigan's Fair Housing Centers found that nearly 30% of same-sex couples were treated differently when attempting to buy or rent a home. The goal, HUD said, is to clarify that the term "family" as used to describe eligible beneficiaries of its public housing and Housing Choice Voucher programs to include otherwise eligible LGBT individuals and couples. Plus, it will require HUD programs' participants to comply with local and state non-discrimination laws; and require that any FHA-insured mortgage loan must be based on the credit-worthiness of a borrower, not their sexual identity.
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Non-qualified mortgages account for 23.1% of the series 2026-7 pool, by balance, and 43.4% of the loans in the pool were made to investors for business purposes and are exempt from the Ability-to-Repay rules.
September 23 -
Besides promoting Sridhar Sharma to CEO from president, the company named Andrew Bon Salle, ex-Fannie exec, as its new chairman, both replacing Chris Marshall.
September 23 -
Several proposed updates, including lower risk-weight floors for certain securitizations and corporate loans, could make it more attractive for banks to finance or hold certain private credit-related assets, experts say.
September 23 -
Federal Reserve Gov. Michael Barr appears to be among the majority of monetary policymakers who foresee at least one more rate hike before the end of the year.
September 23 -
Attom expanded its artificial intelligence platform, eLend partnered with Ready4Remodel to increase renovation financing and Keller Williams teamed up with Rejig.ai.
September 23 -
Several lawsuits filed this year have painted the shared appreciation agreements as misleading, and suggest they should be treated as mortgage loans.
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