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,…
ICBA: New Analysis Shows Sharp Decreases in Small Business and Mortgge Lending Following Credit Union Acquisitions of Community Banks
The Independent Community Bankers of America (ICBA) today released the results of a new data analysis demonstrating that the growth of tax-exempt credit unions acquiring tax-paying community banks is harming small businesses and local communities while community banks outperform credit unions in high-poverty areas. In a new blog post, ICBA President and CEO Rebeca Romero Rainey details ICBA’s…
ICBA: ICBA Applauds Signing of Law to Restrict Mortgage “Trigger Leads”
The Independent Community Bankers of America (ICBA) today applauded President Trump for signing into law the bipartisan Homebuyers Privacy Protection Act (H.R. 2808), which will help protect the financial privacy of mortgage applicants. Introduced by Reps. John Rose (R-Tenn.) and Ritchie Torres (D-N.Y.) and Sens. Jack Reed (D-R.I.) and Bill Hagerty (R-Tenn.), the Homebuyers Privacy…
FHFA: U.S. Federal Housing Allows Fannie Mae and Freddie Mac to Approve Rocket Acquisition of Mr. Cooper
Approval Must Adhere to Safety and Soundness Guardrails Today U.S. Federal Housing, in keeping with its statutory responsibilities as conservator of Fannie Mae and Freddie Mac (the Enterprises), allowed both Enterprises to approve Rocket Companies’ proposed acquisition of Mr. Cooper Group, subject to appropriate conditions to ensure the ongoing safety and soundness of Fannie Mae…
FHFA: Allowable LIHTC Amount Doubled for Fannie Mae and Freddie Mac to Support Affordable Housing
Consistent with the One Big Beautiful Bill, U.S. Federal Housing Expands America’s Affordable Housing Supply in Rural and Underserved Communities Consistent with President Trump’s historic One Big Beautiful Bill, U.S. Federal Housing is expanding America’s affordable housing supply by doubling the amount that Fannie Mae and Freddie Mac can invest in safe and sound Low…
HUD: Disaster Aid and Financial Flexibility Delivered for Missouri Residents Impacted by Natural Disasters
U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the availability of federal disaster assistance to the State of Missouri to supplement recovery efforts in the areas affected by the severe storms, straight-line winds, tornadoes and flooding from March 30 – April 8, 2025. “HUD serves every American and works alongside communities…
HUD: Disaster Aid and Financial Flexibilty Delivered for Iowa Residents Impacted by Natural Disasters
U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the availability of federal disaster assistance to the State of Iowa to supplement recovery efforts in the areas affected by the severe winter storm on March 19, 2025. “HUD serves every American and works alongside communities to help rebuild homes, neighborhoods, and businesses…
HUD: Disaster Aid and Financial Flexibility Delivered for Kansas Residents Impacted by Natural Disasters
U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the availability of federal disaster assistance to the State of Kansas to supplement recovery efforts in the areas affected by the severe winter storm, straight-line winds, flooding and wildfires from March 14-19, 2025. “HUD serves every American and works alongside communities to help…
HUD: Disaster Aid and Financial Flexibility Provided for Nebraska Residents Impacted by Natural Disasters
U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the availability of federal disaster assistance to the State of Nebraska to supplement recovery efforts in the areas affected by the severe winter storm and straight-line winds from March 18-19, 2025. “HUD serves every American and works alongside communities to help rebuild homes,…
HUD: “Express Lane” Launced to Expedite Financing for Residential Care Facilities
FHA cuts processing times from five months to two weeks for eligible low-risk transactions U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced the launch of a new “Express Lane” to expedite Federal Housing Administration (FHA) insured refinancing applications under the FHA Section 232/223(f) Mortgage Insurance for Residential Care Facilities program. This…