Government

Pandemic-era loss mitigation plans have been expanded and extended by the FHA going forward. Click through to find out what that means for borrowers and servicers alike.

A new Veterans United Home Loans survey revealed that high home prices are among the top reasons that impact the decision to buy a new home among service members and Veterans. However, many remain optimistic about homebuying in 2023 despite ongoing affordability challenges.

Through this latest agreement, the Justice Department’s Combating Redlining Initiative has secured more than $75 million dollars in relief for communities that have suffered from lending discrimination.

“This proposed rule is a major step towards fulfilling the law's full promise and advancing our legal, ethical, and moral charge to provide equitable access to opportunity for all,” said Marcia L. Fudge, Secretary of Housing and Urban Development.

The National Reverse Mortgage Lenders Association and RiskSpan Reverse Mortgage Market Index hit a record high of 413.22, while senior housing wealth grew by nearly $226 billion in Q3 of 2022.

Fannie Mae has selected five proposals to help advance racial equity in housing through the $5 Million Innovation Challenge, designed to assist in finding solutions to remove barriers in the home renting and homebuying experience.

Fannie Mae’s latest Home Price Index has found that the tension between the reduced supply of homes available for sale and lower mortgage demand will impact home prices in 2023.

New Fannie Mae data revealed the pandemic prompted many first-time homebuyers to move from smaller housing units in high-density cities to larger homes in lower-density areas, fueling a rise in home sales and lowering the number of days homes sit on the market.

HUD has announced that Secretary Marcia Fudge and Deputy Secretary Adrianne Todman will participate in service projects to honor Dr. Martin Luther King. Jr., and discuss how modern-day housing issues intersect with the civil rights legacy he helped inspire.

“HUD is committed to making the appraisal process fair nationwide. We must eliminate bias in home valuations so that everyone can equally reap the benefit of wealth—and intergenerational wealth—that come along with homeownership,” said HUD Secretary Marcia L. Fudge.