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Posted Date: Monday, November 28, 2022
Nearly three weeks after the midterm elections ended, there is a clear indication as to which party will be in control of each of the chambers of Congress.
While the Senate is staying in the hands of a Democrat majority – supported by two independents that caucus with them – the House of Representatives will see Republicans in the majority for the first time in four years.
Read on to learn what changes may be on the horizon.
Posted Date: Monday, November 28, 2022
The Federal Housing Finance Agency’s (FHFA) 2022 performance and accountability report showed what steps the agency has taken to fulfill its statutory responsibilities and complete its 2021-2024 strategic plan.
Among these actions, FHFA finalized changes to the Enterprise Regulatory Capital Framework, strengthened statutory mission programs, and continued to oversee the development and implementation of equitable housing finance plans.
Read on for more details from the report.
Posted Date: Monday, November 21, 2022
The Consumer Financial Protection Bureau is taking action against Carrington Mortgage Services, stating the servicer engaged in deceptive acts or practices under the Consumer Financial Protection Act and violated the Fair Credit Reporting Act and its implementing statute Regulation V.
The consent order is related to actions Carrington took to mislead certain homeowners who sought a CARES Act forbearances.
Read on for more details.
Posted Date: Monday, November 21, 2022
The Federal Housing Administration’s (FHA) 2022 report to Congress briefed the legislature on the financial status of the Mutual Mortgage Insurance Fund, FHA loss mitigation efforts throughout the year, and how the agency worked to reduce barriers to homeownership.
“I’m so proud of FHA’s work to make homeownership possible for our nation’s underserved households and communities,” Federal Housing Commissioner Julia Gordon said. “Behind the bottom-line numbers are some two million individuals and families who were able to achieve homeownership or stay in their homes through hard times thanks to assistance from FHA.”
Read on for details from the report.
Posted Date: Monday, November 21, 2022
The U.S. Department of Housing and Urban Development (HUD) issued a letter of finding against an Oklahoma housing provider and the property management company, both recipients of HUD funds.
The agency found the entities discriminated against tenants by failing to appropriately respond to known serious racial harassment and retaliated against affected tenants by moving to terminate their tenancy.
Read on for more details.
Posted Date: Thursday, November 17, 2022
In a subcommittee hearing titled, “Persistent Poverty in America: Addressing Chronic Divestment in Colonias, the Southern Black Belt, and the U.S. Territories,” representatives from the U.S. House Committee on Financial Services and witnesses discussed the issues impacting some of the poorest areas in the nation and how they can be addressed.
The key words at the hearing: homeownership and affordable housing.
Read on for more details.
Posted Date: Thursday, November 17, 2022
Fair Housing Commissioner and Assistant Secretary for Housing at the U.S. Department of Housing and Urban Development Julia Gordon joined Ivory Innovations and Urban Institute at a symposium featuring the 2022 Ivory Prize for Housing Affordability winners and top 10 finalists.
The commissioner discussed innovations in affordable housing, the Fair Housing Administration’s report to Congress on its mutual mortgage insurance fund, how the agency has helped families stay in their homes, policy changes that have provided more opportunities for homeownership and equitable mortgage lending, and manufactured housing.
Read on for more details.
Posted Date: Thursday, November 17, 2022
Two reports from the Consumer Financial Protection Bureau revealed how errors in background checks can contribute to high costs and barriers to quality rental housing.
The reports analyzed more than 24,000 complaints, showing the challenges renters face when background information is incorrect and what little recourse they have to resolve these issues.
Read on for more details.
Posted Date: Monday, November 14, 2022
The Federal Housing Finance Agency determined the 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac.
These caps reflect “an anticipated contraction” of the multifamily originations market in the coming year.
Mortgage Bankers Association President and CEO Bob Broeksmit commended the agency for its continued commitment to affordable rental housing and for providing stable liquidity in the marketplace.
Read on for more details about the caps.
Posted Date: Monday, November 14, 2022
The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing closed a rental assistance demonstration transaction with the housing authority in Joliet, Ill.
The project will preserve 113 affordable rental homes for low-income seniors.
Read on for more details.