Government

While a multitude of downpayment assistance options are available to buyers, most are not aware these options exist, as Rob Chrane of Down Payment Resource explains how proper education can bring these programs to the forefront as a viable option to today’s home buyers.

With IMBs reporting an overall net loss of $82 on each loan they originated in Q2, one analyst notes that “the second quarter of 2022 did not yield the usual Spring seasonal pick-up in purchase activity."

The Chairwomen of the House Financial Services Committee published a letter sent to Equifax, demanding answers for issues involving allegedly inaccurate credit scores.

Andy Sheehan of Finicity explains how Freddie Mac’s Loan Product Advisor acceptance of direct deposit data to assess income, payroll, and account transactions data for verification of employment can enable digitization through open banking.

New partnership geared toward expanding homeownership opportunities among the nation’s veterans will partially subsidize homeownership expenses and cost-burdens for up to 10 or 15 years for qualified candidates.

With a segment of home buyers still on the outside looking in, Richard Ferguson of CBC Mortgage Agency discusses downpayment assistance programs, and how this option can benefit buyers in today’s market.

The Chairman of the House Financial Services Committee encourages federal regulators to carefully consider public comments and purposed changes to the Community Reinvestment Act in an open letter.

In a letter to the Government Accountability Office, Rep. Maxine Waters, Chair of the House Financial Services Committee, is seeking a review of the risks seniors face regarding housing insecurity, and the programs in place to prevent homelessness.

Approximately $113 million will be invested to help HUD-assisted families increase earned income and improve financial stability, as the Bridging the Wealth Gap agenda will expand HUD’s work to help renters achieve financial well-being and homeownership.

A recent analysis of HMDA data found that 33% of declined mortgage applications could have been made eligible with the assistance of downpayment assistance programs.