OCC Issues Revised Comptroller’s Handbook Booklet on Homeownership Counseling
The Office of the Comptroller of the Currency (OCC) today issued version 1.0 of the “Homeownership Counseling” booklet of the Comptroller’s Handbook. This booklet replaces the “Homeownership Counseling Examination Procedures” booklet of the Comptroller’s Handbookdated June 2011. Note for Community Banks This booklet provides information to inform and educate examiners about homeownership counseling requirements for delinquent borrowers…
Treasury: Proposed Rules Issued to Implement the ROAD to Housing Act and Support Affordable Homeownership in America
Today, the U.S. Department of the Treasury issued proposed regulations to make homeownership more affordable for hardworking Americans. The proposed regulations implement Section 1001 of the 21st Century ROAD to Housing Act (ROAD to Housing Act), which restricts large institutional investors from purchasing single-family homes, codifying key requirements of President Trump’s Executive Order 14376, Stopping Wall Street from…
HUD: Agency Announces Regulatory Best Practices to Unleash Building and Increase Homeownership Across America
Deregulate Homebuilding by Reducing Costs, Unlocking Land, and Accelerating Timelines The Department of Housing and Urban Development (HUD) announced the State and Local Best Practices for Home Construction Report, a series of regulatory actions for state and local governments to increase efficiency and ease regulatory barriers to housing construction and affordability. “HUD is encouraging our state…
HUD: Fair Housing Investigation Launched into Washington State’s Covenant Homeownership Program
FHEO is launching an investigation to determine if the Washington State Housing Finance Commission’s Covenant Homeownership Program violates the Fair Housing Act, which prohibits discrimination in housing. The Department of Housing and Urban Development’s (HUD) Office for Fair Housing and Equal Opportunity (FHEO) notified the Washington State Housing Finance Commission that it has launched an…
Census Bureau: The Cost of Homeownership Continues to Rise
The median monthly owner costs for U.S. homeowners with a mortgage increased to $2,035 in 2024 from $1,960 (inflation-adjusted) in 2023, according to new American Community Survey (ACS) 1-year estimates released today by the U.S. Census Bureau. “One way we measure housing affordability is based on how much households spend on selected costs such as mortgage payments, insurance, taxes,…
OCC: Acting Comptroller of the Currency Discusses Importance of Homeownership
Acting Comptroller of the Currency Rodney E. Hood discussed homeownership as a pathway to financial inclusion and generational wealth in remarks at the Detroit REACh Homebuyers Fair, held in recognition of National Homeownership Month on June 28. In his remarks, Acting Comptroller Hood discussed the Office of the Comptroller of the Currency’s work to expand…
HUD: Red Tape Slashed to Cut Homeownership Financing Costs
FHA eliminates 12 costly and burdensome policies in sweeping rollback U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the Federal Housing Administration (FHA) is rescinding more than 12 sub-regulatory policies under its Single Family mortgage insurance program. These sweeping changes cut red tape, help reduce the cost of homeownership, and eliminate…
ICBA: ICBA Applauds House Passage of Bill to Restrict Mortgage “Trigger Leads” Following Unanimous Senate Passage
The Independent Community Bankers of America (ICBA) applauded Congress following today’s House passage of the bipartisan Homebuyers Privacy Protection Act (H.R. 2808), which will help protect the financial privacy of mortgage applicants. With today’s vote on H.R. 2808 following the Senate’s unanimous passage of its version of the bill (S. 1467) earlier this month, ICBA…
HUD: Secretary Turner Celebrates June as National Homeownership Month
Advancing Affordability, Access, and the American Dream of Homeownership U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today declared June as National Homeownership Month, celebrating the power of homeownership to build stronger communities and spotlighting HUD’s role in restoring the American Dream of homeownership. “National Homeownership Month is a time to celebrate…
Treasury: Readout Provided for Treasury Roundtable on Opportunities to Lower Costs and Maintain Availability of Homeowners Insurance
Today, the Federal Insurance Office (FIO) at the U.S. Department of the Treasury hosted a roundtable discussion with representatives from the insurance sector, including insurers, reinsurers, brokers, state regulators, resilience and consumer groups, and academics to discuss ways to lower costs and maintain availability of homeowners insurance as part of the Trump Administration’s efforts to…