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Houston must return $45M in unused affordable housing funds

Housing Wire

Despite recent data indicating a poor affordable housing situation in Texas , the city of Houston must return $45 million in unused affordable housing funds to the state after failing to use them for construction of new homes. Instead, the city failed to begin construction on the homes in a timely manner.

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Immigrants in Construction: Post-Pandemic Trends

Eyes on Housing

According to the most recent 2021 American Community Survey (ACS), the number of immigrant workers in construction, including self-employed, remained close to 2.8 The share of immigrant workers stayed at 24% of the construction workforce, slightly below the 2016 record. Read More ›

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Housing starts see biggest increase since 2016

Inman

Housing starts were at a seasonally adjusted rate of 1,631,000 for May — a 21.7 percent jump from April and 5.7 percent higher than the levels recorded in May 2022, according to U.S. Census Bureau data.

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Fintech Maxwell launches POS feature that offers tailored workflows for lenders

Housing Wire

Lenders can also define workflows and business rules for any mortgage product, including construction loans, manufactured home loans, home equity loans and bridge loans. The Denver-based fintech made its first mergers and acquisition (M&A) deal in May 2023 when it acquired mortgage solutions provider LenderSelect.

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CoreLogic integrates CAL FIRE inspection data

Housing Wire

Started in 2016, the inspection database is maintained by the California Department of Forestry and Fire Protection (CAL FIRE). CAL FIRE is the insurer of last resort in California, with insurance companies saying that increased wildfire risk and skyrocketing construction costs have deterred them from writing new policies.

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CalHFA’s former director to join Biden administration

Housing Wire

She also established CalHFA’s downpayment assistance program which offers a deferred-payment junior loan to first-time homebuyers, and the mixed-income program that provides construction financing on multifamily housing projects for a range of incomes. billion commitment to combat California’s housing crisis.

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Opinion: Pass the Neighborhood Homes Investment Act

Housing Wire

The cost gap also thwarts construction and development of modest homes, limiting the availability of affordable homes for first-time and first-generation homebuyers. Neighborhood Homes creates a tax credit that covers the gap between the cost of construction and a home’s sale price. average — creating much-needed comparable sales.

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