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August News

 

Fannie Mae Announces Improved Affordable Lending Product

Desktop Underwriter to Identify Eligible Loans, Creating a Simple and Certain Process for Lenders
Source: FaniieMae Press Release

Fannie Mae (FNMA/OTC) announced HomeReady™ mortgage, an innovative lending option aimed at helping creditworthy borrowers with lower and moderate incomes have access to an affordable, sustainable mortgage. HomeReady features new functionality for lenders through Desktop Underwriter® to automatically flag potentially eligible loans and fully leverage Fannie Mae’s integrated suite of risk management tools for greater certainty and efficiency. HomeReady reflects extensive research and lender input, and will replace Fannie Mae’s MyCommunityMortgage®. More...

 


Broward Housing Council Publishes FY 2014 Annual Report

On Tuesday, August 11, 2015, the Broward County Board of County Commissioners accepted the Broward Housing Council’s Fiscal Year (FY) 2014 Annual Report. The purpose of the report is to provide a summary of the resources and programs administered countywide that provide affordable housing to Broward County residents. This report provides a cumulative overview of affordable housing resources and programs on a countywide basis from October 1, 2013 through September 30, 2014.  More...

 


Experts are Worried About Another Housing Crash in Miami

Source: Business Insider/Myles Udland

Real-estate experts are worried about another housing crash in South Florida. Speaking to The Washington Post's Jim Tankersley, South Florida housing guru Jack McCabe said that the region's housing market looks like it could be heading for another bubble. "We have short memories here in Florida," McCabe told The Washington Post. "And we’re back at it. Every project is getting approved again. Particularly in the luxury-condo sector, there’s going to be a crash in prices in the next few years." More...

 


Housing and the Economy

Source: Urban Institute/Yamillet Payano
Too many homeowners today are struggling to make their monthly mortgage payments: Roughly 4 percent of outstanding mortgages are still in foreclosure or 90-plus days delinquent, compared with just 2 percent pre-crisis. Multiple mortgage modification techniques have been used over the years to cure defaults, but none has proven more compelling and controversial than principal reduction. At a recent Urban Institute panel, experts revisited the empirical evidence on the effectiveness of this modification method.  More...

 

 


HUD Launches Resource Locator App

New app and mobile site seen as new era in customer service
Source: HUD Press Release

The U.S. Department of Housing and Urban Development today unveiled the HUD Resource Locator – an innovative mobile app and website to further expand and enhance traditional HUD customer service. The resource locator will offer real-time HUD housing information at the fingertips of people looking to quickly connect with building managers, public housing authority representatives, and property management companies to inquire about housing availability and other housing-related questions. " More...

 


The Resurrection of America's Slums

Source: CityLab/Alana Semuels

Half a century after President Lyndon B. Johnson declared a war on poverty, the number of Americans living in slums is rising at an extraordinary pace. The number of people living in high-poverty areas—defined as census tracts where 40 percent or more of families have income levels below the federal poverty threshold—nearly doubled between 2000 and 2013, to 13.8 million from 7.2 million, according to a new analysis of census data by Paul Jargowsky, a public-policy professor at Rutgers University-Camden and a fellow at The Century Foundation. That’s the highest number of Americans living in high-poverty neighborhoods ever recorded. More...

 


Best Practices: Landlords Reduce Rent to Help Homeless Get Housing

Source: Colorado's 9News/Victoria Sanchez

There's a new push to get the homeless off the streets and into housing. A program backed by the Denver Metro Mayors Caucus, Colorado Housing Connects, Brothers Redevelopment and the Metro Denver Homeless Imitative is calling on property owners to open up their hearts and their wallets. Ryan Boykin with Atlas Real Estate Group knows the Denver area housing market is hot. He also knows that as the prices continue to go up, it's getting harder for people to afford places to live -- especially the homeless. So his company is joining the new initiative and will put aside 200 apartments and houses for the needy. "These folks that are homeless, particularly the veterans that have served for our country, they really need to be better served and this is an easy way to do it," Boykin said. More...

 


Mapping America's Renters

A new map provides a detailed look at the nation’s twofold housing crisis
Source: The Atlantic/Citylab/Laura Bliss

Jobs may be finally recovering following the Great Recession, but housing has a long way to go before it begins to bounce back. The Census Bureau reported Tuesday that the U.S. homeownership rate has declined to 63.4 percent, the lowest it has been since 1967. A map by the journalist and web developer Ken Schwencke shows just how much the rental market now dominates U.S. cities, even those traditionally defined by high rates of homeownership. “Where the Renters Are” plots 2013 American Community Survey data on who’s renting (red dots) and who’s owning (blue dots) across the country’s census tracts. The dots, each of which represents 25 housing units, are randomly placed within tracts.  More...

 


 

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