The Department of Housing and Urban Development has announced a partnership with the nation's mayors and county officials to identify thousands of available homes to temporarily house families displaced by Hurricane Katrina.HUD Secretary Alphonso Jackson said public housing authorities within a 500-mile radius of New Orleans estimate that they have approximately 5,600 vacant units that could be made available to public housing residents forced to evacuate their homes. This is in addition to nearly 3,200 vacant single-family HUD-owned properties initially identified by HUD in five states near the affected areas.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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May 10