A House-passed GSE bill that restricts nonprofit groups from receiving affordable housing grants due to their political activities raises serious First Amendment concerns, according to an analysis by the Congressional Research Service.The affordable housing provisions drafted by conservative Republicans prohibit nonprofit housing groups from receiving grants from Fannie Mae and Freddie Mac if the groups or their affiliates lobby Congress or engage in voter registration drives. The CRS constitutional analysis points out that Congress can restrict the use of government-provided funds. However, the Congress cannot prohibit an organization from using its own funds for lobbying and political speech. CRS legislative attorney Jack Maskell also pointed out that the courts would likely find the House restrictions "over-inclusive" because they apply to affiliates of the affordable housing groups. "[T]he Supreme Court has in the past ruled that the government may not deny a benefit to a person because he exercises a constitutional right," Mr. Maskell says. Sen. Carl Levin, D-Mich., requested the constitutional analysis by the CRS.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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