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Treasury’s new housing plan includes redirected COVID-19 funds to boost affordable supply

Housing Wire

Department of the Treasury on Tuesday announced a series of new initiatives designed to increase the supply of affordable housing across the country. Department of Housing and Urban Development (HUD) and state and local housing finance agencies,” according to the announcement. There are three core provisions of the plan.

Insurance 485
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Opinion: Agencies are key to fixing housing affordability

Housing Wire

CHLA commends FHA for its work on its “Mythbusters” initiative, designed to blow up the myths around FHA loans by educating lenders and home sellers. Another development in the focus on first-time homebuyers is CFPB’s recent announcement that it was going after junk fees and other non-competitive practices in the mortgage loan process.

Sellers 475
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Biden to call for first-time homebuyer tax credit, construction of 2 million homes

Housing Wire

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. The White House estimates that this “will raise an additional $3.79

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Mary Ann Azevedo named Managing Editor of FinLedger

Housing Wire

Azevedo joined HW Media from Crunchbase News where she covered startups and venture funding trends with a special focus on real estate tech, construction tech and under-the-radar regions. Launched in August 2020, FinLedger is a fintech-focused media brand designed for financial services professionals.

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How Remaining Economic Life Works

Cleveland Appraisal Blog

They all have done their studies and have provided their analysis of what their data reflects the total economic life of a home to be based upon its quality of construction. Therefore, for each sale, we must develop a reliable opinion of the value of its land. We’ve just developed the total economic life for one of the sales.

Appraisal 371
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5 Rules for Appraising Barndominiums

McKissock

Bottom line: If the home is going to be financed by a lender, insured by FHA, or sold on the secondary market, you must make sure you compile a fair, thorough report to ensure that the lender doesn’t take a loss. It is not necessary for one or more of the comparable sales to be of the same design and appeal as the property you are appraising.

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NRMLA, MBA provide comments on HECM application, origination documents

Housing Wire

In particular, HUD Form 92900–C is designed to “collect loan-level data that is needed for insuring purposes and not found on Fannie Mae form 1003,” according to the original announcement. Following an announcement that the U.S. HUD also plans to replace its use of some internal forms, including one used in conjunction with U.S.