Joint Statement on Continued Efforts to Connect Homeowners to Pandemic Relief Issued
The Secretaries of Housing and Urban Development Marcia L. Fudge, Veterans Affairs Denis McDonough, Agriculture Tom Vilsack and Treasury Janet L. Yellen are calling on servicers of federally backed mortgages to make every effort to ensure no individual or family unduly experiences unnecessary hardship or foreclosure while assistance is available under the Homeowner Assistance Fund. The…
HUD: Disaster Assistance Announced for New Mexico Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to State and local recovery efforts in the areas of New Mexico affected by wildfires and straight-line winds beginning on April 5, 2022, and continuing. On May 4, President Biden issued a major disaster declaration for the counties of Colfax,…
HUD: FHA Takes Additional Steps to Expand Affordable Housing Supply through FHA’s Claims without Conveyance of Title
Mortgagee Letter supports the Biden-Harris Administration’s efforts to increase the supply of affordable housing and expand access to homeownership for low- and moderate-income homebuyers. The Federal Housing Administration (FHA) announced on Thursday that it published Mortgagee Letter (ML) 2022-08, Expanding Affordable Housing Supply Through FHA’s Claims Without Conveyance of Title. The ML adds an initial 30-day exclusive…
FHFA: Mandatory Use of the Supplemental Consumer Information Form During Loan Application Process Announced
Data collected will help lenders facilitate communications with borrowers in their preferred language The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will require lenders to use the Supplemental Consumer Information Form (SCIF) as part of the application process for loans that will be sold to the Enterprises….
FHFA: Fannie Mae and Freddie Mac Duty to Serve Underserved Markets Plans for 2022-2024 Announced
The Federal Housing Finance Agency (FHFA) today published the 2022-2024 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) Program. The DTS Plans demonstrate a strengthened commitment to serving manufactured housing, affordable housing preservation, and rural housing. The targets and strategies in the Plans build on lessons…
FHFA: House Price Index Up 2.1 Percent in February 2022; Up 19.4 Percent from Last Year
House prices rose nationwide in February, up 2.1 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 19.4 percent from February 2021 to February 2022. The previously reported 1.6 percent price change for January 2022 remained unchanged. For the nine census divisions, seasonally adjusted monthly…
HUD: FHA Insures $65.5 Million Mortgage for Energy Efficient Transit-Oriented Development in Roselle, IL
Insurance endorsement provided by FHA supports creation of 295 new construction rental homes The Federal Housing Administration (FHA) announced today, April 21, that it has closed on a $65.9 million loan insured under FHA’s 221(d)(4) New Construction Mortgage insurance program for Metro 19 Apartments in Roselle, Illinois. The insured loan will help finance the construction…
HUD: Disaster Assistance Announced for Massachusetts Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to supplement Commonwealth, tribal, and local recovery efforts in the areas of Massachusetts affected by the severe winter storm and snowstorm from January 28 to January 29, 2022. On April 18, President Biden issued a major disaster declaration for the…
HUD: FHA Adds 40-Year Mortage Modification with Partial Claim to Home Retention Options for Struggling Borrowers
Addition to loss mitigation home retention options allows servicers to assist additional FHA forward mortgage borrowers who are behind on mortgage payments due to COVID-19. The Federal Housing Administration (FHA) announced on Monday that it is adding a new, 40-year mortgage modification option for mortgage servicers to use in conjunction with its partial claim option to assist…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Housing Authority of the City of Tampa, Florida
Part of large-scale redevelopment master plan in the West River neighborhood that will feature a total of 670 homes. The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on April 14 closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of the City of Tampa (THA) in Tampa, Florida, to…