Government

In its Annual Financial Report, Ginnie Mae highlights its financial performance and accomplishments over the past year, as it supported affordable, equitable homeownership and rental housing for tens of millions of American households.

The least affordable markets were Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their pay on monthly housing costs. Detroit and Pittsburgh were the most affordable.

A Bank of America study revealed that the vast majority of prospective homebuyers expect home prices and interest rates to fall in the coming year, so they’re waiting until then to purchase a home. But how likely is that to happen? BofA experts unveil more in their latest Homebuyer Insights Report.

In a new report, HUD’s Office of Inspector General outlines the most serious management and performance issues facing the Department in fiscal year 2024.

In a letter, nearly 80 consumer, energy, housing, health, manufacturing, and environmental organizations called on the Federal Housing Finance Agency to help lower costs and make housing safer and healthier, in addition to suggesting requirements that all new homes with mortgages backed by Fannie Mae and Freddie Mac meet updated energy codes.

Attorney Jamie Juster of McCalla Raymer Leibert Pierce discusses a recent case where the borrower argued that their lender failed to comply with HUD regulations by not conducting a face-to-face meeting to discuss loss mitigation options prior to foreclosure.

In order to more closely align with the FHFA’s hike in conforming loan limits for 2024, Ginnie Mae has revised its definition of High Balance Loans for single-family forward mortgage loans nationwide.

The Bureau has ordered the bank to pay $12 million into the CFPB’s victims relief fund for falsifying forms about mortgage applicants and reporting incorrect information to federal regulators.

Proposed changes to the 203(k) Rehabilitation Mortgage Insurance Program have been drafted to expand FHA-insured mortgage financing for the purchase or refinance of single-family homes in need of repair or rehabilitation.

A new report reveals how much the average single-family home appreciated year-over-year during Q3 2023, trumping gains seen during Q2 by a modest clip according to the Federal Housing Finance Agency’s House Price Index.