FHFA: 2017 Report to Congress Released
The Federal Housing Finance Agency (FHFA) today released its 2017 Report to Congress. The statutorily-required report provides information about FHFA’s 2017 examinations of Fannie Mae, Freddie Mac (the Enterprises), 11 Federal Home Loan Banks (FHLBanks) and the FHLBanks’ Office of Finance. The report also describes FHFA’s actions as conservator of the Enterprises during the year…
Federal Reserve: Board Issues Report on the Economic Well-Being of U.S. Households
The Federal Reserve Board’s latest Report on the Economic Well-Being of U.S. Households finds that economic well-being has generally improved over the past five years. The report notes that 74 percent of adults reported they were doing at least OK financially in 2017‑‑up 10 percentage points from the first survey in 2013. Even so, notable…
HUD: Fair Housing Assessment Tool Withdrawn
Flawed assessment tool found to be confusing, difficult to use for local governments After a months-long technical evaluation, the U.S. Department of Housing and Urban Development (HUD) today announced that it is withdrawing a computer assessment tool originally intended to be helpful to local governments in meeting their obligations under the Fair Housing Act to…
ABA: Survey Shows that Regulatory Burden Continues to Restrict Mortgage Lending
Seventy-seven percent of respondents to the American Bankers Association’s 25th annual Real Estate Lending Survey described mortgage regulation as having a negative impact on business production and consumer credit availability. In the survey released today, nearly 3 in 4 bankers said that Qualified Mortgage (QM) rules – which impose stringent rules that exceed “ability to…
HUD and Census Bureau: Residential Construction Activity Report for April 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for April 2018. Building Permits: Privately owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,352,000. This is 1.8 percent (±1.3 percent) below the revised…
FHFA: Fannie Mae and Freddie Mac Refinance Volume Down in First Quarter 2018 as Mortgage Rates Rise
The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 356,003 refinances in the first quarter of 2018, compared with 446,295 in the fourth quarter of 2017. FHFA’s first quarter Refinance Report also shows that 4,139 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP…
Federal Reserve: Fed Notes – Can More Housing Supply Solve the Affordablilty Crisis? Evidence from a Neighborhood Choice Model
Can More Housing Supply Solve the Affordability Crisis? Evidence from a Neighborhood Choice Model (PDF) Elliot Anenberg and Edward Kung Abstract: We estimate a neighborhood choice model using 2014 American Community Survey data to investigate the degree to which new housing supply can improve housing affordability. In the model, equilibrium rental rates are determined so…
FFIEC: 2017 HMDA Data on Mortgage Lending Now Available
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,852 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today are loan-level HMDA data that cover 2017 lending activity submitted by financial…
CFPB: FFIEC Announces Availability of 2017 HMDA Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,852 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today are loan-level HMDA data that cover 2017 lending activity submitted by financial…
FEMA: Disaster Assistance Tops $50 Million to Florida Government and Nonprofits
The state and FEMA continue collaborating to bring federal disaster dollars to Florida for Hurricane Irma-related expenses. The agency’s Public Assistance program has provided Florida more than $50 million to reimburse local governments and certain nonprofits for disaster-related projects. Below are examples of the funding so far: Monroe County: about $3.3 million for emergency response…