Treasury office considers reforms for title insurance; FHFA sets tenant protections for GSE multifamily borrowers; Biden administration calls for rent control; two states slow on index change.
Researchers find that the climate-related increase in flood damage will boost the cost of subsidizing federal mortgage programs by 44% over the next 30 years. That doesn’t include the costs to homeowners, lenders, insurers or MBS investors.
The Federal Housing Finance Agency’s approval of the controversial pilot program comes with several conditions that limit the size and scope of Freddie’s second-lien purchases.
The Treasury Department announced $100 million in affordable housing funding, while HUD named recipients of its Pathways to Removing Obstacles to Housing grant competition.
Homeownership rates and household incomes differ dramatically within the AANHPI demographic. Some 65% of Filipino-Americans own their home while just 44% of Tongan-Americans do.
Cybersecurity insurance is getting more difficult for mortgage companies to obtain and some lenders appear to be unable to meet reporting requirements set by the GSEs on security.
The combination of the NAR settlement, better coordination between White House and FHFA, and the resurgence of the CFPB may help establish real price competition in the housing and mortgage markets.
Critics say the data giant’s exclusive contracts with data providers and strategic acquisition of potential competitors make it impossible for new market entrants to gain scale or price competitively.
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