article thumbnail

Congress should adopt mortgage interest tax credit: CHLA

Housing Wire

The Community Home Lenders of America (CHLA) is calling on both houses of Congress to adopt a mortgage interest credit as the 2017 Tax Cuts and Jobs Act (TCJA) is currently set to expire in 2025. The 2017 law also made interest from home equity loans non-deductible except for when the money is applied to home improvements or renovations.

Mortgage 448
article thumbnail

FHA finalizes updates to reverse mortgage debenture interest rates

Housing Wire

19, 2017, which went into effect later that year. 19, 2017,” FHA said in its announcement. The rule also reaffirms the interest rate used for the payment of debenture interest for HECM claims to align with the January 2017 rule. The updated rule builds upon several changes that FHA made to the HECM program on Jan.

Mortgage 405
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Chicago Residential Lease for 2017

Chicagoland Appraisal Blog

The Chicago Association of Realtors has released the 2017 Chicago Residential Lease for apartments, condominiums, single-family homes, and townhomes. In their post from January 4, 2017, the updated 2017 Chicago residential lease with the new security deposit interest rates can found. Thanks for reading, John Tsiaousis.

article thumbnail

CFPB orders Fay Servicing to pay $2M over illegal foreclosure practices

Housing Wire

A CFPB order issued on Wednesday mentions violations of mortgage servicing laws and of a previous 2017 order that addresses the same issue. Fay Servicing “failed to implement the 2017 measures and continued to break the law,” the CFPB claims.

Law 355
article thumbnail

Share of Active Homes For Sale Hits Post-Pandemic High

Appraisal Buzz

Although inventories remains below pre-pandemic levels, the difference between the levels in 2017–2019 and the current levels is decreasing. Nevertheless, it’s still more than a week (8 days) shorter than the average house spent in July from 2017 to 2019, even if it was listed for five extra days in July 2023. and 47.6%, respectively.

Inventory 418
article thumbnail

HUD and FHFA Increase Transparency in Home Appraisals

Appraisal Buzz

The appraisal-level PUF for FHA-insured mortgages contains details on approximately 266,000 single-family appraisals conducted from 2017 through 2022. “Today, we take a major step forward, working with our partners at FHFA to make public data that is both current and comprehensive on home appraisals.”

Appraisal 409
article thumbnail

Michigan ERA franchise acquires another independent firm

Housing Wire

ERA Prime Real Estate was founded in 2017 by owner Willie Ray III. GAP Realty Group was founded in 2015 by Alex Pandoff and has 50 agents. The combined firm will do business as ERA Prime Real Estate Group. Pandoff will stay on at the firm and serve as an associate broker.