HUD: Homelessness Declines in Most Communities with Increases Reported in High-Cost Areas
Lack of affordable rental housing in Los Angeles and NYC driving increases nationally WASHINGTON – Homelessness crept up in the U.S., especially among individuals with long-term disabling conditions according to the latest national estimate by the U.S. Department of Housing and Urban Development (HUD). HUD’s 2017 Annual Homeless Assessment Report to Congress found that 553,742…
FEMA: Coping with Holiday Stress after a Disaster
If you lost your home, business or personal property due to Hurricane Irma, you or your family may be struggling to cope with the emotional impact of the disaster. For individuals and families looking to rebuild, the approaching holidays may be especially difficult. FEMA’s online information, Coping with Disaster provides suggestions that may ease the…
FHFA: Further Data Released on Non-Performing Loan Sales
The Federal Housing Finance Agency (FHFA) today released its fourth report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Reportincludes information about NPLs sold through June 30, 2017. It reflects borrower outcomes as of June 30, 2017, on NPLs sold through…
HUD: Deputy Secretary Leads Senior Recovery Team to Puerto Rico
U.S. Department of Housing and Urban Development Deputy Secretary, Pamela Hughes Patenaude will visit Puerto Rico this week to get a closer look at the island’s recovery from Hurricane Maria. Patenaude will be joined by members of HUD’s Disaster Recovery and Long-Term Housing Team. “The HUD recovery team on the ground in Puerto Rico is comprised…
HUD: Public Awareness Campaign Launched to Help Struggling Homeowners Impacted by Hurricane Harvey
The U.S. Department of Housing and Urban Development (HUD) and the Texas General Land Office (GLO) today launched a public awareness campaign to inform owners of homes damaged by Hurricane Harvey that help is available to avoid foreclosure and to finance repairs. “After a major disaster like Hurricane Harvey, struggling homeowners need to know that…
Federal Reserve: FEDS | Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks
Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks (PDF) David P. Glancy Abstract: I use geographic variation in bank lending to study how bank real estate losses impacted the supply of credit and employment during the Great Recession. Banks exposed to distressed housing markets cut mortgage and small business lending relative to other…
FEMA: As Historic 2017 Hurricane Season Comes to an End, Federal Support to Recovery Continues
While Nov. 30 marks the end of a historic hurricane season, FEMA and its partners continue to work diligently in support of disaster survivors recovering from the devastating season. Four hurricanes made landfall: Harvey, Irma, Maria and Nate (the first three were classified as major hurricanes, which affected roughly 25.8 million people). Also during this…
FEMA: Partnerships and Progress – $10 Billion in Disaster Assistance in the Hands of Texans
AUSTIN, Texas – More than $10 billion in state and federal resources and plenty of hard work by resilient Texans pave the way to recovery from Hurricane Harvey. Here’s a snapshot of recovery 90 days after the Category 4 storm struck Texas: $1.4 billion in federal grants were approved for 350,000 homeowners and renters. $2.6…
FHFA: Index Shows Mortgage Rates Decreased in October 2017
Nationally, interest rates on conventional purchase-money mortgages decreased from September to October, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.98 percent for loans closed in late October, down 2 basis points from 4.00 percent in September….
Federal Reserve: FEDS | Bank Failures, Capital Buffers and Exposure to the Housing Market Bubble
Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble (PDF) Gazi I. Kara and Cindy M. Vojtech Abstract: We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis…