The new Federal Housing Administration director for multifamily housing, Charles H. Williams, is heading to Baton Rouge, La., along with 50 Department of Housing and Urban Development employees to help victims of Hurricane Katrina find temporary housing.The HUD contingent led by Mr. Williams will be assisting the Federal Emergency Management Agency in the relief effort. Mr. Williams, a HUD deputy assistant secretary, was previously in charge of HUD's Office of Affordable Housing Preservation, which is responsible for restructuring expiring federal rent subsidy contracts on privately owned multifamily properties. Meanwhile, the FHA has identified 3,410 foreclosed single-family houses in five Gulf Coast states that might provide shelter for families displaced by the hurricane and flooding. "We are currently inspecting our properties" to determine their condition, a HUD spokesman said.
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While equity still sits near historic highs, price growth moderation led to shrinkage of the total amount available and a rise in underwater mortgages.
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Consumers are so concerned about rising costs that they often forego coverage altogether, according to two separate studies from Valuepenguin and Realtor.com.
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Getting a dwindling number of mortgages distressed for over a year off the books could improve the enterprises' financial position.
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California-based Linkhome Holdings' new platform allows buyers to use cryptocurrency for property purchases.
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The American Land Title Association is supporting Fidelity National Financial's efforts to stop an anti-money laundering rule from going into effect.
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Elimination of the mundane and the elevation of specialized experts able to train AI are among the changes the mortgage industry may see, its leaders say.
September 15