Sen. Wayne Allard, R-Colo., has introduced a homestead bill that would give low-income Katrina victims title to vacant government land so they can build new homes."This legislation will help us begin to rebuild New Orleans and other areas destroyed by the hurricanes and flooding, providing a fresh start for families victimized by this tragedy," Sen. Allard said. The Bush administration supports the Allard bill, which would allow the Department of Housing and Urban Development to use foreclosed Federal Housing Administration properties for the new homesteading program. After removing the debris from the home sites, HUD and local governments would work with Habitat for Humanity, mortgage lenders, and other partners to help the homesteaders construct new homes. "President Bush and I believe that homesteading is an important part of a long-term recovery strategy for the Gulf Coast region," HUD Secretary Alphonso Jackson said.
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Americans who qualify for a mortgage with Better will be able to use Bitcoin or USDC as collateral to fund their down payment through a private loan.
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Full documentation was only applied to 2.6% of the underlying pool of mortgages. Debt-to-income, however, was 23.3% when it was applied.
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Layoffs stretch across the organization, including members of Summit's c-suite and its general counsel, the company said in a notice to California officials.
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New questions about Fannie Mae and Freddie Mac's guarantee by experts who saw conservatorship start points to tensions in a stalled secondary offering.
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The 30-year fixed mortgage has increased by 40 basis points since February, while the 15-year is 14 basis points lower than a year ago, Freddie Mac reported.
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Affordability improved in February as rates dipped below 6%, but March's climb to 6.43% signals tougher months ahead. Lenders should act now on pockets of opportunity before rising rates erode recent gains.
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