California lawmakers said they have agreed to place an $11.3 billion housing bond on the ballot this November, aiming to expand affordable housing and homeownership. Processing Content The proposal, Senate Bill 417, includes $10 billion of general obligation bonds for affordable housing programs and $1.25 billion of self-supporting revenue bonds for the state’s home loan […]

Ralo, which claims to be the first artificial intelligence mortgage broker, has started business, having completed a $2.9 million seed round. Processing Content Its investors include Y Combinator, Manresa Ventures and Pack Ventures, along with angels such as Charles Ferguson (director of Inside Job, a documentary about the Great Financial Crisis) and Ryan Frazier (co-founder

The mortgage and housing industry’s wish list for revisions to the latest Basel proposal includes requests for change to the rule set’s loan-to-value ratio and rental-property distinctions. Processing Content Part of the proposal calls for risk weights to “rise as high as 110% for loans with LTVs above 100%”  when “repayment depends on rental income,”