Government

A group of 10 U.S. Senators have issued a letter to the heads of HUD and the CFPB calling for an examination of Navy Federal Credit Union’s practices after a report claimed the institution was more than twice as likely to deny loans for Black applicants as white applicants.

Due to continued liquidity constraints in the reverse mortgage space, Ginnie Mae has begun exploring a new securitization product that would accept HECM loans with balances above 98% of FHA’s Maximum Claim Amount.

According to the Federal Housing Finance Agency, a new report revealed that appraisers underutilize time adjustments for local house price growth, but what does this mean for the industry?

The U.S. Department of Housing and Urban Development’s Office of Housing Counseling revealed that the millions in available grants will help expand housing counseling services and provide comprehensive financial literacy, homeownership, and affordable housing support to underserved communities.

December’s new mortgage-backed securities issuance by Ginnie Mae will support the financing of nearly 95,000 households, including more than 47,000 for first-time homebuyers.

An analysis of data by the FHFA of Uniform Appraisal Dataset Aggregate Statistics for the third quarter has found a year-over-year decline in the total number of U.S. home appraisals.

HUD’s Office of the Inspector General has issued its Fiscal Year 2024 priority open recommendations report outlining actions that the Department can take to address health and safety in HUD-assisted housing, managing fraud risk and improper payments, and IT and cybersecurity modernization.

In an agreement over non-discrimination in marketing and tenanting procedures, HUD renews its commitment to ensuring that all eligible applicants can participate in Department-funded housing programs.

The CFPB announced the approval of the Independent Community Bankers of America's (ICBA) proposed template to improve mortgage disclosures to "provide consumers greater clarity, streamline the process through improved disclosure requirements, and expand access to more affordable homes in rural areas with limited housing supply," according to Rebeca Romero Rainey, President and CEO of ICBA.

U.S. Attorney Ryan K. Buchanan and HUD-OIG Inspector General Rae Oliver Davis recently collaborated on an event on eliminating environmental hazards and misconduct for tenants living in HUD-assisted housing.