Home prices continue their rapid growth, up 18% year-over-year

Home prices in the U.S. jumped by 16% in April 2021 compared to April 2020, according to newly published data from the Federal Housing Finance Agency this week. Home prices also grew on a month-to-month basis, rising 1.8% from March to April, surpassing the 1.6% increase seen the previous month, the FHFA said. The agency

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President Biden nominates Julia Gordon as HUD commissioner

U.S. President Joe Biden has nominated a new Federal Housing Commissioner to serve at the Department of Housing and Urban Development. Should her nomination be confirmed by the Senate, Julia Gordon will be tasked with leading the Federal Housing Administration, supervising programs relating to the private mortgage insurance market and overseeing the $400 billion Federal

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President Biden to replace Mark Calabria as head of FHFA

Update: The Federal Housing Finance Agency announced late Wednesday that President Biden has appointed Sandra Thompson as the agency’s acting director. Thompson has served as the deputy director of the Division of Housing Mission and Goals (DHMG) since 2013. U.S. President Joe Biden will replace the leader of the Federal Housing Finance Agency following a

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FHFA launches new refinancing program for low-income homeowners

Low-income homeowners who may have missed out on last year’s refinancing boom are to be given a second chance, the Federal Housing Finance Agency has said. This week, the FHFA announced an upcoming program for low-income homeowners with government-backed mortgages to refinance at a lower rate in order to reduce the amount they have to

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FHFA considers changes to the home appraisal process

The home appraisal process could be about to get a makeover, as the Federal Housing Finance Agency has requested public input on its policies and practices regarding the way they’re carried out. The FHFA is the body that regulates the mortgage financing giants Fannie Mae and Freddie Mac. Home appraisals are an important step in

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FHFA extends aid to landlords and renters

As federal protections for landlords near their expiration date, the Federal Housing Finance Agency is offering additional help due to the ongoing COVID-19 pandemic. On Monday the FHFA said that multifamily property owners who’re currently in forbearance will be able to request an extension of their payment suspension for an extra three months, which means

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Freddie Mac failed to hit low income housing goals in 2017

Government sponsored enterprise Freddie Mac failed in its bid to meet its low-income housing goals for 2017, according to a new report from the Federal Housing Finance Agency published this week. In the report, the FHFA lays out a benchmark level and a market level for each of the low-income housing goals for both Freddie

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FHFA suspends plans to update its credit scoring model

This week it was revealed that an initiative to update the Federal Housing Finance Agency’s credit score model, which is used by both Fannie Mae and Freddie Mac, is being suspended.

Texas court rules that the FHFA is “unconstitutionally structured”

The leadership structure of the Federal Housing Finance Agency, the body that runs Fannie Mae and Freddie Mac, has been ruled unconstitutional by a federal appeals court in Texas.

Industry bodies form alliance to push for alternative credit scoring model

The National Association of Realtors is teaming up with a number of housing and mortgage trade associations to ask the Federal Housing Finance Agency to enable greater access to mortgage credit by using “alternative credit scoring models”.

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