Affordable housing

Continued failure to bring Fannie Mae and Freddie Mac out of conservatorship will lead to see-saw mortgage policy every time the White House changes hands, which is against the intent of the GSE statutes that indicate a desire for stable secondary markets, writes the Principal at public affairs firm TVDC.

But a part of the proposal getting mixed reviews extends a risk sharing program that provides capital to housing finance agencies for multifamily loans.

The Tax Relief for American Families and Workers Act of 2024 includes restoration of a 12.5% increase in the program's 9% limit that expired in 2021.

Timothy Harleth is launching Generational Equity Labs, a fund that plans to use a technology platform linking would-be homebuyers to institutions to support equity sharing.

The House Ways and Means Committee is marking up the bipartisan legislation that would restore a 12.5% boost to the program's availability.

While several communities offer monetary incentives to attract new residents, some are making overtures with down payment and other types of assistance aimed at building up their local housing markets.

The city claims it can build the rental units quicker through this mechanism rather than low income housing tax credits.

The government is moving forward with a catalog of pre-approved home designs to reduce the cost and time it takes to build housing. The idea dates back to the 1940s when thousands of soldiers returned from the Second World War and needed a place to live.

But the average cost for a mobile home is still more than $300,000 lower than a permanent construction.

California, Midwest and Northeast cities are poised to see the greatest combined rise in sales and home values, but some affordability relief will also emerge nationwide in the next 12 months, Realtor.com said.

Thirty percent of single women borrowers were not confident going into the mortgage experience, with a quarter of them claiming not to trust their loan officer, a Maxwell survey found.

Policymakers are all too quick to categorize IMBs as financially risky institutions; making them easy targets for stricter - and unnecessary - federal oversight and regulatory efforts, Stevens and Olson argue.

A report from the state's attorney general found Black and Latino households end up paying that combined amount more in origination fees, interest rates and other associated costs, in addition to seeing higher rates of loan denials.

The U.S. Department of Agriculture program should also allow existing manufactured home sales to be financed, they said.

After regulators deemed special-purpose credit programs compliant with housing law, their numbers have grown, but lenders are still trying to determine the best way to develop them and achieve their intended purpose.

By the end of this year, origination volume at HFAs will come in at approximately $29 billion, close to pre-pandemic levels, according to a new Moody's report.

Providing support to affordable rental developments is a key component in the Biden administration's efforts to increase housing supply.

Property owners willing to restrict rental income will qualify for the terms of this new product originated by Delegated Underwriting and Servicing mortgage bankers.

Amplify Credit Union in Austin provided funding for the construction of 28 tiny homes to create more affordable housing in Round Rock, Texas. Several banks had previously shot down the project.

Designated mortgage professionals who can work in community outreach as well as regular monitoring of program outcomes are also important components that will help programs meet goals, industry leaders say.