Affordable housing

Offered through the company’s 11 chartered units in 12 states, the five-year fixed-rate installment loan is secured by the home and is available between $5,001 and $14,999.

A renter making minimum wage would have to work 77 hours a week — nearly two full-time jobs — to afford a two-bedroom apartment in Michigan.

The company's Series A funding round, led by Sequoia Capital, added $165 million in capital, which will allow it to expand its home buying operations into more states.

The White House's firing of Federal Housing Finance Agency Director Mark Calabria sparked immediate speculation about who will run the agency and help chart the future of the two mortgage giants. Potential nominees include ex-Obama administration officials, congressional staffers and members of the Biden transition team.

Consumer advocates and mortgage industry officials are urging Sandra Thompson, the new acting director of the Federal Housing Finance Agency, to undo many policies that her predecessor, Mark Calabria, put in place over the past year.

Financial inclusion is the civil rights issue of our generation — and getting more Americans, especially younger and minority families, into decent, affordable housing is a critical step on the ladder to financial capability, writes a board member of the National Credit Union Administration.

The Supreme Court decision cleared the way for further revisions to the agreements between the Federal Housing Finance Agency and the Treasury, which could include dismissing the January changes.

Gordon is currently president of the National Community Stabilization Trust, a nonprofit organization that promotes neighborhood revitalization and housing affordability.

Thompson, who was most recently the deputy director of the FHFA’s Division of Housing and Mission Goals, replaces Mark Calabria, who was fired Wednesday afternoon.

With residential supply severely lagging behind demand, redeveloping unused office space into multifamily properties seems like a perfect solution, but it’ll take governmental collaboration and tax breaks to make such projects financially compelling, developers say.