Enjoy complimentary access to top ideas and insights — selected by our editors. The recent decision by the Department of Housing and Urban Development and the Office of Management and Budget to roll back key policies of the Property Appraisal and Valuation Equity (PAVE) task force marks a pivotal shift in federal housing policy. What […]
Why HUD was right to roll back PAVE rules Read More »
It’s no secret that low-income housing options are in short supply across much the country. And a report this week out of Fairfax County, Virginia, illustrates the challenges that seniors can face when trying to find subsidized housing. Fairfax County, which borders the District of Columbia and is home to about 1.1 million residents, is
In Northern Virginia, senior housing has a supply-and-demand ‘disconnect’ Read More »
The Department of Housing and Urban Development has “effectively disband[ed]” the Biden-era interagency Property Appraisal and Valuation Equity initiative, the federal housing agency announced late Thursday. The department withdrew three mortgagee letters related to appraisal reviews, including the reconsideration of value process, it noted in its press release. These recessions were previously highlighted in an
HUD dissolves “woke” policies created by appraisal task force Read More »
The Trump administration announced Thursday that it has ended the major policy provisions of the Biden-era Property Appraisal and Valuation Equity (PAVE) task force, “effectively disbanding” a program that sought to eliminate racial bias in the appraisal process. The directive primarily applies to two rules. One required appraisers and mortgage lenders to comply with the
Trump administration ‘effectively disbands’ the PAVE task force Read More »
President Donald Trump has secured a big win in his effort to reduce the footprint of the federal government. The Supreme Court ruled Tuesday that the administration can proceed with plans to lay off thousands of federal workers and cut funding to various federal agencies, including the U.S. Department of Housing and Urban Development (HUD).
Supreme Court ruling allows Trump’s federal workforce cuts to proceed Read More »
Scott Turner, the secretary of the U.S. Department of Housing and Urban Development (HUD), announced on Tuesday a 90-day foreclosure moratorium for Federal Housing Administration (FHA)-insured single-family mortgages in the areas of Kerr County, Texas, that have been devastated by recent severe storms, including wind and flood damage. The 90-day moratorium prohibits mortgage servicers from
HUD offers foreclosure relief to Texans saddled by floods Read More »
The Department of Housing and Urban Development will make mortgage relief measures available in the wake of the Central Texas flooding disaster, joining others in the home lending community offering aid to hard-hit communities. With President Trump issuing a disaster declaration for Kerr County, Texas, over the weekend, a 90-day foreclosure moratorium on properties backed
HUD, lenders offer aid after deadly Texas floods Read More »
The Federal Housing Administration (FHA) has opened a request for information on buy now, pay later (BNPL) lending as it seeks to understand its implications for housing affordability and stability. Comments are due by Aug. 25. These installment loans — often referred to as “phantom debt” — gained popularity during the COVID-19 pandemic, particularly among
FHA seeks input on buy now, pay later lending Read More »
California Attorney General Rob Bonta — along with a coalition of 20 other attorneys general — is urging the U.S. Department of Housing and Urban Development (HUD) to abandon a proposed rule that would eliminate federal requirements prohibiting discriminatory marketing of affordable housing. In a letter sent to HUD on Thursday, the attorneys general argued
State AGs oppose HUD’s plan to roll back fair housing marketing rules Read More »
Mortgage lenders welcomed the rescissions the Department of Housing and Urban Development made to 12 Federal Housing Administration policies, noting they would make the program more attractive for participants. They could even be a starting point for bringing banks back as originators in this government-insured program. These revisions might affect other segments of the housing
HUD rescinds 12 FHA policies: What home lenders need to know Read More »
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