The House has passed a bill that will make it easier for persons displaced by hurricanes Katrina and Rita to find apartments that can accept federal rental vouchers.The bill (H.R. 3894) allows the Department of Housing and Urban Development to waive certain requirements so voucher holders can sign short-term leases to rent federally assisted Section 8 apartment units. "With this legislation, anyone who has been displaced by hurricane Katrina or Rita, and is low-income, can now be housed in these [Section 8] apartments, even if they were not receiving government assistance before the hurricanes," said Jim Arbury, who heads up government affairs for the National Multi Housing Council and National Apartment Association. By waiving inspection and government lease requirements, the Hurricane Katrina Emergency Housing Act, sponsored by Rep. Rodney Alexander, R-La., also allows voucher holders to lease certain market-rate apartments. The House passed the bill by a 418-0 vote. "We applaud the House for taking this much-needed step, and we urge the Senate to pass similar legislation," Mr. Arbury said.
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Intermediary automation has increased the immediate availability of product, pricing and eligibility information to both sides of the mortgage business.
7h ago -
Radian undertook a multiyear process that resulted in the $1.7 billion purchase of Inigo, but it's exiting other businesses outside of mortgage insurance.
8h ago -
Rate rolled out its Rate App entirely in Spanish Thursday as part of its Language Access Program.
8h ago -
CrossCountry Capital will partner with an Ares Alternative Credit fund and Hildene Capital Management after receiving $1 billion of equity capital commitments.
9h ago -
President Donald Trump asked the Supreme Court to reverse a lower court ruling allowing Federal Reserve Gov. Lisa Cook to remain in office pending the outcome of her lawsuit challenging Trump's move to fire her late last month.
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The 30-year fixed rate mortgage was down another 9 basis points this week, Freddie Mac said, but much of this pricing was before the Federal Reserve meeting.
September 18