Affordable housing

Lawmakers appeared supportive of Alanna McCargo's nomination at a Senate hearing Thursday. If confirmed, the former Urban Institute vice president would fill a role that has been vacant since 2017.

Eligible low and moderate income borrowers can get up to $25,000 to help construct granny flats as part of the state's efforts to increase affordable housing.

While the Biden Administration has issued a series of measures to encourage the production of more affordable housing, municipalities must changing their zoning or other restrictive laws to facilitate additional development, writes the Chairman and CEO of Walker & Dunlop

Sandra Thompson, who has been acting director of the Federal Housing Finance Agency since June, has won backing from the mortgage industry and community groups for the experience she brings to the role. The push comes as the administration is said to be considering Mike Calhoun of the Center for Responsible Lending.

The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.

Speculation has mounted that Mike Calhoun, president of the Center for Responsible Lending, is under consideration to lead the Federal Housing Finance Agency. His nomination would be an endorsement of proposals to treat Fannie Mae and Freddie Mac in a similar way as publicly regulated power or water companies.

If confirmed, Alanna McCargo would be the first Senate-approved president at Ginnie Mae since January 2017.

The White House and the Federal Housing Finance Agency announced steps to help nonprofits and public agencies buy foreclosed properties, among other initiatives, as part of a plan to boost supply over the next three years.

The Federal Housing Finance Agency in the Trump administration had been preoccupied with Fannie Mae and Freddie Mac’s capital position. Acting Director Sandra Thompson has shifted the agency’s focus to affordable housing and fair lending.

Congress included funding for such assistance in its infrastructure bill.

Other investors in the round include Caffeinated Capital Andreessen Horowitz, Singapore's GIC, GGV Capital and Moore Specialty Credit.

Republicans on the Senate Banking Committee objected to Biden administration picks for key jobs at the Department of Housing and Urban Development based on their past criticism of police practices. The nominees, including the prospective Federal Housing Administration chief, said their statements were taken out of context.

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.