In the News

Fannie Mae Announces Improved Affordable Lending Product

Desktop Underwriter to Identify Eligible Loans, Creating a Simple and Certain Process for Lenders
Source: Fannie Mae 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...

 


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