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Tag Archives: Center for American Progress

Closing the Homeownership Gap

Julia R. Gordon, Assistant Secretary for Housing and Federal Housing Commissioner of HUD, speaks to MortgagePoint about recent changes such as FHA’s mortgage insurance premium reductions, an ongoing commitment to improving IT infrastructure, and how the arc of her career brought her to her current role.

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Julia Gordon Sworn in as FHA Commissioner

Just over a week after conformation by the U.S. Senate, former FHFA exec sworn in by HUD Secretary Marcia L. Fudge to spearhead the FHA’s goals of expand access to safe, affordable, and sustainable housing.

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Report: Secondary Market Key to Promoting Housing Affordability

The key to a viable, accessible mortgage market lays in the structure of the secondary market, according to opinions expressed by the Center for American Progress, a policy think tank, and the National Council of La Raza, a Hispanic advocacy group. In a report, the two groups propose ways the secondary market can accomplish the goals of accessibility and affordability.

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Preventing ‘Moral Hazard’ Issue for Principal Reduction

With numbers from a CoreLogic report revealing 22.8 percent of borrowers are underwater, principal reduction has been eyed as a key solution to keep borrowers in their homes. The Center for American Progress has released a report detailing solutions to the ""moral hazard"" issue. One is to make principal reduction a one-time program open to borrowers already delinquent; another is to open the program only to current borrowers who are at-risk of default; and the third is ""shared appreciation"" modifications.

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Mortgage Experts Advocate for Servicing Changes

Mortgage servicing took center stage at a mortgage banking conference in Chicago on Monday, with industry experts making a case for reform. Panelists at a session on the future of mortgage servicing assured attendees that in five years, the servicing business ""will look nothing"" like it does today. Executives from such organizations as Freddie Mac, Amherst Securities, and the University of North Carolina advocated for national servicing standards, greater transparency, and new compensation structures.

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