Government

HUD’s new office will administer the Department’s Manufactured Home Construction and Safety Standards, a code that establishes standards for the design and construction of manufactured homes to assure quality, durability, safety, and affordability.

"We appreciate the continued support of the 21 insurers and reinsurers that have committed to write coverage for these deals," said Rob Schaefer, Fannie Mae VP, Capital Markets.

The MBA reports nationwide forbearance volume has reached levels not seen since March 2020, attributed to a strong jobs market and the array of loss mitigation options introduced since that time.

The numbers are in from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, and the news is good—at least on a short-term scale.

While racial disparities in homeownership are at their highest level in 50 years, closing the Black-white homeownership gap in the U.S. will take adding nearly five million African American homeowners, according to the U.S. Department of Housing and Urban Development.

“HUD recognizes that cities are in need of revitalization across the country,” said HUD Secretary Marcia L. Fudge. “We want to support city governments in their efforts to restore economically crucial business districts by providing housing in these areas.”

Five Star’s Legal League has published a white paper detailing how the government’s Homeowner Assistance Fund has provided relief and loss mitigation options for homeowners nationwide during the pandemic.

The bipartisan measure would cut taxes for middle-class homeowners by restoring and extending an expired tax deduction for home buyers with MI, as well as expanding the number of families eligible for the deduction.

An upcoming webinar will forecast housing values over the next year, given the current market environment, as well as discussing loss mitigation decisioning.

The Five Star Institute, in partnership with SWBC, recently presented a webinar discussing a number of factors facing the U.S. economy and the current mortgage marketplace, and what’s in store for the industry for the remainder of 2023.