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Which cities have the largest portion of homes affordable to the average wage earner?

Housing Wire

Bank ‘s threshold for affordable housing payments 28% of monthly income. Detroit follows close behind at 52.9% Ohio is projected to experience statewide population declines in 74 of 88 counties over the next 25 years, according to the Ohio Department of Development. of available listings.

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FHFA says Federal Home Loan Banks have offered more support to affordable housing efforts

Housing Wire

The Federal Home Loan Banks (FHLBanks) saw significant growth in support of affordable housing and community development in 2023, according to a report released Thursday by the Federal Housing Finance Agency (FHFA). FHFA Director Sandra Thompson lauded the development in a statement accompanying the report.

Banks 459
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Regions Bank places $1B bet on home renovation market

Housing Wire

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. The space remains dominated by depository banks. billion in volume in 2020.

Banks 445
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OceanFirst Bank will pay $15M to resolve redlining allegations

Housing Wire

Department of Housing and Urban Development (HUD) and the U.S. Department of Justice (DOJ) announced this week that they have secured a $15 million conciliation agreement with New Jersey-based OceanFirst Bank to settle allegations of discriminatory redlining in certain neighborhoods with majority Black, Hispanic and Asian populations.

Banks 443
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Higher insurance premiums are a shoo-in after the LA wildfires

Housing Wire

On Wednesday, the Office of the Comptroller of the Currency (OCC) took protective measures by issuing a proclamation that allows national banks, federal savings associations, and federal branches and agencies of foreign banks to close their offices in areas of California affected by the fires.

Banks 418
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Bank regulators issue new Community Reinvestment Act rule

Housing Wire

Trade groups and fair housing associations applauded the changes, including the extension of the implementation timeline and recognition of Special Purpose Credit Programs (SPCPs) in a bank’s CRA rating. The CRA encourages banks to help meet the credit needs of their communities, with a focus on low- and moderate-income borrowers.

Banks 431
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Ginnie Mae seeks venue change in Texas Capital Bank reverse mortgage dispute

Housing Wire

Department of Housing and Urban Development (HUD) submitted a motion to change the court venue where a case with Texas Capital Bank (TCB) is taking place, arguing that a contract clause has been violated by TCB’s choice to file the case in Amarillo, Texas, as opposed to Dallas. Attorneys representing Ginnie Mae and the U.S.

Banks 447