Affordable housing

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.

The San Antonio-based lender is introducing new products targeted at borrowers who make less than 80% of their county's median income. The loans, which will qualify for Community Reinvestment Act credit, could help expand access to the state's increasingly expensive housing market.

The Federal Housing Administration could increase the limits for loans it insures in this market, a congressional oversight agency said in a new report.