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FHFA annual report highlights GSE actions on affordable housing

Housing Wire

These include oversight of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac , mortgage purchases designed to improve affordability for low-income homeowners, vendor partnerships and investments in the Low-Income Housing Tax Credit (LIHTC) program. The GSEs also “invested over $1.7

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The risk of zero-down loans while the Fed talks recession

Housing Wire

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. The entire system has to be designed to inflate the price over time. This is what we do in America.

Loans 544
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Biden to call for first-time homebuyer tax credit, construction of 2 million homes

Housing Wire

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. The White House estimates that this “will raise an additional $3.79

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). Yet staggeringly few are aware of its existence. What is reverse purchase financing?

Finance 482
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Opinion: Here’s what people are getting wrong about real estate commissions

Housing Wire

Any person involved in selling a home knows that you cannot increase the price of your home randomly to cover the cost of commissions and other closing costs. The market sets the price of the home, and it cares little for closing costs — or what the homeowner invested in it — when determining the price for which it will sell.

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Montana aims to remind seniors about its ‘reverse annuity mortgage’

Housing Wire

The Montana Board of Housing is aiming to remind the state’s seniors about a government-administered program that is specifically designed to help older adults access their home’s equity — and it should be very familiar to members of the reverse mortgage industry. This is where the RAM program can come into play.

Mortgages 396
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Borrowers exiting forbearance may choose to sell their homes – What role do servicers play?

Housing Wire

According to Black Knight , 96% of homeowners have at least 10% equity – meaning they may be able to pay off their loan, closing costs, and agent commissions without paying out of pocket or a short payoff. Servicers have a capacity advantage by partnering with us.

MLS 448