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HUD, White House announce new initiatives designed to boost housing supply

Housing Wire

Department of Housing and Urban Development (HUD) on Thursday unveiled a series of new policies that are designed to boost housing supply and affordability across the country, according to HUD and White House officials. HUD is using every single tool we have to ensure the families we serve can access affordable homes.

Design 447
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Foreclosures are rising, but it’s not yet alarming

Housing Wire

But more broadly, since the Great Recession in 2008, there has been a greater implementation of standardized loss-mitigation measures designed to prevent a foreclosure crisis. in early 2022 — the lowest foreclosure rate recorded since 1999. creating chaos in property insurance markets. foreclosure rate at 0.3%

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NAR releases flood disclosure tracker as federal shutdown looms again

Housing Wire

The National Association of Realtors (NAR) on Wednesday unveiled its state flood disclosure tracker tool , aiming to offer clarity and access to survey existing state disclosure requirements for flood insurance. Department of Homeland Security ’s Assistant Secretary for Legislative Affairs Alice Lugo to Vice President Kamala Harris.

Legal 369
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Reverse purchase financing: The financing option no one is talking about

Housing Wire

Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).

Finance 466
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CRT is ‘responsible’ hedge against taxpayer risk: FHFA’s Thompson

Housing Wire

Fannie Mae is unveiling its sixth Connecticut Avenue Series (CAS) credit-risk transfer deal of 2022, a $754.4 The latest transaction, CAS 2022-R06, involves a reference pool of 83,420 single-family mortgage loans. . “We million note offering backed by a reference pool of single-family mortgages valued at $25 billion.

Insurance 393
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How reverse mortgages could improve financial stability for older homeowners

Housing Wire

CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. In fact, many financial researchers and scholars have identified it as a strategic tool that should be considered part of a holistic financial strategy for retirement. Not tax advice. Consult a tax professional. †

Mortgage 418
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What your title company needs to succeed in 2023

Housing Wire

Here’s how to show them you’re in the know: Be a title expert Homebuyers want information that can make their decisions more manageable, especially information on title insurance, which they may have never heard of before starting the home buying process. In 2022, 96% of all buyers used online tools during their home search.

Insurance 338