Government

While racial disparities in homeownership are at their highest level in 50 years, closing the Black-white homeownership gap in the U.S. will take adding nearly five million African American homeowners, according to the U.S. Department of Housing and Urban Development.

“HUD recognizes that cities are in need of revitalization across the country,” said HUD Secretary Marcia L. Fudge. “We want to support city governments in their efforts to restore economically crucial business districts by providing housing in these areas.”

Five Star’s Legal League has published a white paper detailing how the government’s Homeowner Assistance Fund has provided relief and loss mitigation options for homeowners nationwide during the pandemic.

The bipartisan measure would cut taxes for middle-class homeowners by restoring and extending an expired tax deduction for home buyers with MI, as well as expanding the number of families eligible for the deduction.

An upcoming webinar will forecast housing values over the next year, given the current market environment, as well as discussing loss mitigation decisioning.

The Five Star Institute, in partnership with SWBC, recently presented a webinar discussing a number of factors facing the U.S. economy and the current mortgage marketplace, and what’s in store for the industry for the remainder of 2023.

For the first time in 15 months, the Federal Reserve's Federal Open Market Committee moved to hold the nominal interest rate steady at a range of 5.00% to 5.25%.

Multi-language translations of single-family mortgage documents in Chinese, Korean, Spanish, Tagalog, and Vietnamese are now available for lenders and servicers when working with borrowers with limited English proficiency.

HUD and Terner Labs at UC Berkeley will bring together leadership in the public sector, housing experts, researchers, technologists, entrepreneurs, practitioners, and others to explore advances at the forefront of the housing industry.

Reductions in the Section 184 Indian Home Loan will make homeownership more affordable and accessible for Native American families by saving an average of $500 in the first year on mortgage payments through fee reductions.