FHFA: Progress Report on the 2017 Scorecard for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2017 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build. The Report describes efforts taken by the Enterprises during 2017 to address factors limiting access to mortgage credit for creditworthy…
FHFA: House Price Index Up 0.8 Percent in January 2018
U.S. house prices rose in January, up 0.8 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.3 percent increase in December was revised upward to 0.4 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages…
FEMA: Federal Funding for U.S. Virgin Islands Tops $1 Billion
ST. CROIX, Virgin Islands – The Federal Emergency Management Agency and its partners have provided more than $1 billion to households, businesses, territorial agencies and flood insurance policyholders to help them recover from hurricanes Irma and Maria. As of March 19, the funding includes: $74.8 million in Individual Assistance for individuals and households, including rental assistance,…
CDFI Fund: U.S. Treasury Announces $120 Million in Awards for Affordable Housing
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 40 organizations $120 million today for the development of affordable housing and related economic development activities in low-income communities. These awards were made through the fiscal year (FY) 2017 round of the Capital Magnet Fund, with funds available from the calendar…
FHFA: Proposed Rule Amending Federal Home Loan Banks’ Affordable Housing Program Regulation Issued
The Federal Housing Finance Agency (FHFA) is seeking comments on proposed amendments to its regulation on the Federal Home Loan Banks’ (FHLBanks) Affordable Housing Program (AHP). The proposed amendments would authorize the FHLBanks to redesign their project selection systems and create special targeted funds, which would allow the FHLBanks more flexibility to align their AHP…
HUD: Choice Neighborhoods Planning Grants Awarded
The U.S. Department of Housing and Urban Development (HUD) today awarded nearly $5 million to six communities to help create plans to redevelop severely distressed HUD assisted housing and revitalize neighborhoods. Funded through HUD’s Choice Neighborhoods Initiative, these grants will help local leaders to craft comprehensive, homegrown plans to revitalize and transform these neighborhoods. HUD’s…
FHFA: U.S. House Prices Rise 1.6 Percent in Fourth Quarter 2017
U.S. house prices rose 1.6 percent in the fourth quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.7 percent from the fourth quarter of 2016 to the fourth quarter of 2017. FHFA’s seasonally adjusted monthly index for December was up 0.3 percent from November. The HPI is…
OCC: Publication Focuses on Single-Family Rehabilitation Financing Programs
The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Developments Investments newsletter titled “Expanding Housing Opportunities: Single-Family Rehabilitation Financing Programs.” This edition of Community Developments Investments discusses how national banks and federal savings associations can help revitalize communities by establishing housing rehabilitation loan programs. The publication describes how…
CFPB: Thinking About Buying a House in 2018? Here’s What You Need to Know
Are you thinking about buying a house this year? We’ve got tools and resources that will help you get your financial house in order as you prepare to look for that perfect place to call home—and shop for a mortgage that’s right for you. Just as in 2017, the supply of homes for sale is…