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HUD announces $72.6M in new Native American community grants

Housing Wire

HUD extends its gratitude to Tribes for providing vital feedback on the ICDBG program through Tribal consultation, which informed the development of this grant competition, from the design of the Notice of Funding Opportunity through our work to quickly complete the application review and award process, HUD stated.

Principal 369
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The biggest challenge for the reverse industry in 2024? Mortgage rates

Housing Wire

Education and distribution A longtime challenge for the reverse mortgage industry continues to be its marketing and messaging, particularly in ways designed to overcome longstanding reputational hurdles that the business has had to contend with for years. We were resilient, and were able to even grow at Guild.

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New York bill would require reverse mortgage lenders to strengthen consumer disclosures

Housing Wire

These include several reductions to principal limit factors (PLFs), which are designed to reduce risk and losses to the program. Provisions designed to allow for more non-borrowing spouses to remain in the property after the death or displacement of the borrowing spouse were implemented in 2015.

Mortgages 337
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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

For example, a designated broker is someone who owns a real estate firm and oversees business activities, such as hiring and managing other brokers, agents and office staff. Designated broker: The highest level of broker, a designated broker, is responsible for the actions of all licensed agents working under them.

Agents 448
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HUD announces $175M funding opportunity for rental construction, renovation

Housing Wire

This particular funding opportunity is designed to impact communities with demographic and size variations by setting aside $65 million for CoCs that are “located in states with populations of fewer than 2.5 It is designed to address both the immediate impacts of homelessness as well as risk factors that contribute to it, HUD explained.

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New planning tool arrives as California prepares for more accessory dwelling units

Housing Wire

A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). The prefabricated units, which span 361 square feet, are designed to reduce construction costs and minimize environmental impacts.

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FHA institutes new payment supplement partial claim

Housing Wire

The new option Partial claims are interest-free loans from HUD that borrowers use to make their payments current, with the remainder of the late payments added to the principal and extended for 30 years. The letter states that the option will be implemented starting May 1, 2024, but will be mandatory on Jan.

Principal 459