HUD: Agency Celebrates Annual National Homeownership Month
The June celebration reinforces the Biden-Harris Administration’s commitment to supporting affordable homeownership and lowering housing costs for American families. Today, the U.S. Department of Housing and Urban Development (HUD) joined President Joe Biden to celebrate June as the 22nd Annual National Homeownership Month. During National Homeownership Month, HUD is proud to double down on its ongoing leadership and…
FHFA: Enhancements Announced to Flex Modification for Borrowers Facing Financial Hardship
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will enhance their Flex Modification policies to allow more borrowers facing longer-term hardships to achieve meaningful payment reductions. The updated Flex Modification policies will promote sustainable homeownership and the safety and soundness of the Enterprises. “The Enterprises have completed over half a million modifications through their Flex Modification offerings since…
HUD: Final Rule Issued to Increase Lender Participation and Boost Homeownership in Tribal Communities
Enhanced home loan program helps to further the homeownership dream for Native American families. Today, the U.S. Department of Housing and Urban Development (HUD) announced a final rule that will increase lender participation in the Section 184 Indian Housing Loan Guarantee (Section 184) program, strengthen regulations to meet the program’s growing demands, and ensure that…
HUD: $13.5 Million in Grants Awarded to Expand Access to Homeownership Opportunities
Four housing providers to produce over 440 homes for low-income first-time homebuyers using Self-Help Homeownership Opportunity Program (SHOP) Grants Today, the U.S. Department of Housing and Urban Development (HUD) awarded $13.5 million in “sweat equity grants” to support non-profit, self-help housing organizations that enable homeownership opportunities for hard-working, low-income families and individuals. Funded through HUD’s Self-Help…
HUD: $10 Million Made Available to Support New Homebuyers and Bridge Wealth Gap
First of its kind Notice of Funding Opportunity will support housing counseling services for prospective homebuyers in underserved communities. The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling has announced that $10 million in grant funding is available to eligible HUD-approved housing counseling agencies. These agencies will use the funding to prepare and…
HUD: 2023 Update to Equity Action Plan Released, Outlining New Commitments to Advance Equity
The U.S. Department of Housing and Urban Development (HUD) today released the 2023 Update to its Equity Action Plan, in coordination with the Biden-Harris Administration’s whole-of-government equity agenda. This Equity Action Plan is part of the Department’s efforts to implement the President’s Executive Order on “Advancing Racial Equity and Support for Underserved Communities Through the Federal Government,” which…
HUD: New Report Highlights Unprecedented Homeownership Achievements
HUD’s efforts to reduce barriers to homeownership prove effective. Three years in review: increasing access to homeownership, supporting home retention through the pandemic, and addressing racial bias. When the Biden-Harris Administration and Secretary Fudge took office, Americans were facing numerous challenges, including the COVID-19 pandemic, a lack of affordable housing supply, and rapidly increasing home…
HUD: FHA Helps Over 765,000 Families Buy Homes and Maintains a Strong Insurance Fund
Annual Report to Congress for fiscal year 2023 highlights impact of insurance premium reduction, assistance for approximately two million struggling homeowners, and a well-capitalized Mutual Mortgage Insurance Fund. The Federal Housing Administration (FHA) published today its annual report to Congress describing the work of its Single Family mortgage insurance programs in fiscal year 2023 and the performance…
Census Bureau: Interactive Map of Homeownership Data from the 2020 Census Released
Today, the U.S. Census Bureau released an interactive mapillustrating 2020 Census data about homeownership by the age, race and ethnicity of the householder. The map provides data at the national, state and county levels and data from the 2010 Census for comparison. The Census Bureau also released the brief Housing Characteristics: 2020, which provides an overview of…
HUD: Nearly $1 Million Awarded for Research to Close Homeownership Gap
Grants support efforts to address disparities in access to mortgage financing and homeownership for borrowers of color and other underserved groups Today, the U.S. Department of Housing and Urban Development (HUD) announced nearly $1 million in grant awards to conduct rigorous research focused on closing gaps in access to mortgage financing and homeownership faced by…