“How much impact the program would have depends on how many homebuyers can access it,” said Phil Crescenzo, a vice president at Nation One Mortgage Group.

Defaults on home equity investment contracts can occur if the borrower’s mortgage is foreclosed on or if the borrower fails to maintain payments for taxes and insurance on the home.

The Mortgage Action Alliance issued a call to action to support H.R. 3507, the Yes in My Backyard Act.

Fannie Mae has revised its home sales forecast downward as potential buyers stay on the sidelines in 2024.

Redfin reports that starter homes are 4% costlier than last year while the MBA says overall homebuyer affordability improved in the short term.

MBA urged the CFPB to immediately provide written guidance on the matter, noting the final rule takes effect Sept. 16.

CFPB Director Chopra said contract-for-deed sales might sound like a path to homeownership for those who feel they have no options, but they have real risks.

A year ago Freedom ranked 22nd among home lenders. Today it ranks fourth.

Rocket is offering the program through its retail and wholesale outlets.

High interest rates and low supply continue to affect the availability of the affordable homes required to fulfill the GSEs' housing goals.