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Movement to pay $24M to settle underwriting government loans fraud case

Housing Wire

Like its peers, Movement has the authority to originate and underwrite loans without first having the government review them. If the borrowers default, they may submit a claim to the government for certain losses. The company also confirmed that it failed to adhere to the government’s self-reporting requirements.

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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. There are three core provisions of the plan.

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FFIEC issues statement of principles for examining appraisal and valuation bias

Housing Wire

The statement is designed to clarify standards by which entities under the purview of individual regulators violate applicable rules and regulations. These standards can harm a residential lender beyond any identified violations, the statement explained.

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ICE unveils two new property valuation solutions

Housing Wire

Intercontinental Exchange (ICE) Mortgage Technology introduced two new tools, Validate ROV and Validate Selector, to its growing suite of property valuation solutions, the company announced on Monday.

Valuation 411
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AI could improve racial equity in homeownership, but there’s work to be done

Housing Wire

Nearly 50 interviews from staff members in the federal government, financial technology companies, mortgage lenders and consumer advocates found that the ability of AI to improve racial equity can be undermined by the data used to train the algorithm, not just by the algorithm itself.

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HUD to award more than $3 billion in homelessness aid

Housing Wire

billion in homelessness aid to communities across the country through its Continuum of Care program, which is designed to provide housing assistance and/or support services to people experiencing homelessness. Department of Housing and Urban Development (HUD) announced on Monday that it will distribute $3.16

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California’s ‘Master Plan for Aging’ is well received in its early days

Housing Wire

These shifting dynamics are causing the California state government to work to ensure that certain issues that can stem from such a demographic development — particularly for health care, housing and social services — are addressed in a comprehensive statewide initiative called the “Master Plan for Aging.”