During a House hearing, Rep. Ann Wagner, R-MO, criticized the FHFA for spending $7.7 million on what she called a “crucial training program which lacks professionalism, among other things…”
Freddie Expands Community Land Trust Mortgage Offering. Freddie Mac announced this week that it’s expanding its support for shared-equity homeownership programs that focus on long-term affordability. The GSE said it will begin purchasing Community Land Trust Mortgages to facilitate the preservation of affordable housing in low- to mid-income markets across the country. In an era of tight housing inventory and rising home prices, Freddie noted that shared-equity homeownership offers prospective buyers a way to become homeowners and lenders an opportunity to support underserved communities. “In developing the Community Land Trust Mortgage offering we were able to take a fresh look at existing mortgage products in this space, listen to the...
Fannie Mae launched a $10 million innovation challenge this week asking for ideas on healthy affordable housing. The initiative is a two-year commitment to source new ideas related to addressing affordable housing needs by reaching outside of Fannie and its traditional partners. “We recognize the value in breaking down silos. We want to work with new partners on issues that are inextricably linked to affordable housing in order to create comprehensive solutions,” said Fannie’s Vice President of Sustainable Communities Maria Evans. She went on to say that the GSE is incubating innovative ideas that directly address its mission to bring affordability and stability to underserved areas...
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