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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. The new extension is estimated to create 38,000 additional units over 10 years, according to administration officials.

Design 407
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FHA gives investors cold shoulder on foreclosed properties

Housing Wire

The Federal Housing Administration said that nonprofit organizations and owner-occupant buyers will have first dibs on foreclosed properties that get auctioned off through its Claims Without Conveyance of Title (CWCOT) program, specifically prioritizing these groups over investors.

Investors 391
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HUD launches manufactured home community loan program

Housing Wire

Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).

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Opinion: FHA should lower Mortgage Insurance Premium

Housing Wire

Simply put, it looks at all the insured loans in the single-family business and factors in expected interest rates, home price forecast, default rates and severity rates over the entire duration of these loans, some of which will be on the books for 30 years. They range between GNMA investor confidence to past history.

Insurance 385
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Why it’s time for the housing industry to get serious about climate risk

Housing Wire

And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.

Insurance 343
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Freddie Mac’s CRT program posts record performance 

Housing Wire

The offering totals were across the agency’s flagship Structured Agency Credit Risk (STACR) and Agency Credit Insurance Structure (ACIS) programs, along with other risk-sharing transactions. Through the A CIS transactions, a portion of the credit risk on mortgages backed by Fannie and Freddie is shifted to insurers in the private sector.

Insurance 370
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Fannie Mae launches eighth CAS note offering this year

Housing Wire

Through CAS note offerings, private investors participate with Fannie in sharing a portion of the mortgage credit risk in the reference loan pools retained by the agency. Fannie Mae operates two CRT programs — its CAS note offerings and its Credit Insurance Risk Transfer , or CIRT, transactions.

Insurance 304