FDIC: New Resource Announced to Help Community Bankers Understand FHLB Products and Programs
The Federal Deposit Insurance Corporation (FDIC) published a new guide to help community bankers learn more about the programs and products offered by the Federal Home Loan Banks (FHLBs) to facilitate mortgage lending. The Affordable Mortgage Lending Guide, Part III: Federal Home Loan Banks describes many of the products and services offered by FHLBs, including…
OCC: Newsletter Focuses on Innovative Partnerships to Preserve Affordable Housing
WASHINGTON — The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Development Investments newsletter entitled “Preserving Affordable Housing: Innovative Partnerships.” This issue describes the role of national banks and federal savings associations in preserving America’s affordable rental housing and presents examples of how financial institutions and nonprofit organizations…
FHFA: Report Details Progress on the 2016 Scorecard for Fannie Mae and Freddie Mac
Washington, D.C. – The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2016 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build. The Progress Report details efforts made to address borrower impediments to credit access while transitioning from crisis…
FHFA: Fourth Quarter Foreclosure Prevention Report | Foreclosure Preventions Surpass 3.8 Million
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its fourth quarter Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 189,911 foreclosure prevention actions in 2016, bringing the total number of troubled homeowners helped since conservatorships to more than 3.8 million. Of the 3.8 million foreclosure prevention…
FHFA: House Price Index Remains Flat in January
Washington, D.C. – U.S. house prices remained flat in January according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The HPI has reflected positive monthly increases since early 2012, except for November 2013 and January 2017, when house prices were flat on a month-over-month basis. The previously reported 0.4…
CFPB: How to Deal with “Bad Credit” – or No Credit – When You Want to Buy a Home
Buying a home is exciting. It’s also one of the most important financial decisions you’ll make. Choosing a mortgage to pay for your new home is just as important as choosing the right home. You have the right to control the process. Check out our other blogs on homebuying topics, and join the conversation on Facebook…
HUD: New Residential Sales in January 2017 Announced
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau today jointly announced the following new residential sales statistics for January 2017: NEW HOME SALES Sales of new single-family houses in January 2017 were at a seasonally adjusted annual rate of 555,000. This is 3.7 percent (±18.5 percent)* above…
FHFA: US House Prices Rise 1.5 Percent in Fourth Quarter
Washington, D.C. – U.S. house prices rose 1.5 percent in the fourth quarter of 2016 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.2 percent from the fourth quarter of 2015 to the fourth quarter of 2016. FHFA’s seasonally adjusted monthly index for December was up 0.4 percent…
FHFA: Deadline Extended for Public Input on Potential Chattel Loan Pilot in Duty to Serve Program
Washington, D.C. – The Federal Housing Finance Agency (FHFA) is extending the deadline, from Feb. 17, 2017 to March 21, 2017, for stakeholders to respond to a request for input on potential manufactured home chattel loans pilot initiatives for Fannie Mae and Freddie Mac (the Enterprises) as part of the Duty to Serve underserved markets. …
CFPB: How to Decide How Much to Spend on Your Down Payment
One of the toughest parts of buying a home for the first time is coming up with a down payment. You may have heard that in order to buy, you should have 20 percent of the total cost of the home saved up for the down payment. Actually, you can choose how much to put…