HUD

The Department of Housing and Urban Development will revive a 2013 rule that makes lenders liable for practices that were unintentionally discriminatory as well as 2015 guidelines for how local jurisdictions comply with the Fair Housing Act.

Although the Federal Housing Administration's insurance fund is "well above" its legal minimum, HUD Secretary Marcia Fudge said the mortgage agency has no plans to cut prices.

The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.

The complaint alleged the bank discriminated by refusing to make a mortgage loan after learning it would be used to finance a group home for disabled people.

HUD also said that it will extend mortgage insurance to homeowners whose properties have been destroyed.

The reduction currently under consideration by the Biden Administration would lead to even faster home price appreciation, especially in areas with moderate FHA presence, American Enterprise Institute’s Housing Director of Research Tobias Peter says.

Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less expensive.

Marcia Fudge told senators that her first priority as secretary would be to assist renters and homeowners struggling financially due to the COVID-19 pandemic.

The president’s executive action looks to assess the impact of the previous administration's alterations to the Affirmatively Furthering Fair Housing and Disparate Impact rules, while reinforcing Biden’s vow to eliminate discriminatory lending practices.

Appointee Jenn Jones spent the last four years as the chief of policy and membership at the National Community Reinvestment Coalition, an organization fighting housing and lending discrimination.