Law and regulation

As Californians reel from sky-high rents and home prices fueled by the economic boom, state lawmakers return Monday from their summer recess to debate proposals attacking the housing crisis.

Housing markets with the strictest land-use regulations saw home price appreciation shoot up by more than double the rate of those with lighter regulations, despite similar job growth, according to Zillow.

Earlier this year the Legislature appropriated $200 million to help finance new affordable rental housing. Now a state-led panel advises that an additional $1 billion should follow over the next decade to further address Hawaii's shortage of affordable apartments.

As regulators move forward with policy changes designed to curb so-called refinance churning of Department of Veterans Affairs-insured mortgages, concerns have surfaced about the fate of loans originated during the transition period.

The Internal Revenue Service's settlement with Radian Group may result in a $74 million tax benefit for the mortgage insurer that could improve its second-quarter results.

A federal appeals court in Texas agreed with Fannie Mae and Freddie Mac shareholders that the FHFA, led by a single director, violates the separation of powers.

Leandra English, who sued President Trump and Mick Mulvaney last year claiming to be the rightful director of the CFPB, said Friday that she plans to resign and drop the litigation.

At least 38 projects totaling 3,337 units were proposed statewide in 2017, which is far more than the five projects totaling 391 units proposed in 2010, the basement of the Great Recession.

Lawmakers want the agency to utilize two programs to help families still struggling to recover from the aftermath of Hurricane Maria.

The Senate's farm bill would prevent the July 31 lapse of the National Flood Insurance Program, but it still needs to be debated in conference with the House.