Archives For: Industry Updates
3 New Cassel Zombie Homes to be Given New Life Thanks to State Grant
The town of North Hempstead, NY has received more than $1 million in state grants to help turn abandoned houses into homes for first-time home buyers in New Cassel.
29 Dec 2022
New York Enacts Statewide Law Superseding Local Requirements for Registration of Mortgages in Default
New York Assembly Bill A3081, signed by Governor Hochul on November 21, effectively preempts any local law that would require mortgage lenders to register mortgages in default at any point prior to the filing of a notice of pendency in foreclosure proceedings.
20 Dec 2022
HUD Seeking First-of-its-Kind Public Input to More Equitably and Accurately Allocate Disaster Recovery Funds
For the first time, HUD has requested public feedback to help determine how best to simplify, modernize and more equitably distribute critical disaster recovery funds.
20 Dec 2022
Share of Mortgage Loans in Forbearance Remains Flat at .7% in November
The MBA Monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance remained flat relative to the prior month at 0.70% as of November 30, 2022.
19 Dec 2022
How Hartford Land Bank Helps City Residents Turn Blighted Properties into Homeownership Opportunities
The Hartford Land Bank is working with Hartford-based developers to invest in blighted properties in the city, with the hope of driving better living conditions and potential for homeownership in the tenant-dominated city.
17 Dec 2022
Mortgage Rates Drop for Fifth Week in a Row
Mortgage rates fell once again this week, dipping for the fifth straight week in a row. According to Freddie Mac, the average 30-year fixed rate is currently at 6.31%.
15 Dec 2022
FHFA Sets New Percentage-Based Benchmark for Multifamily Housing Goals
FHFA has finalized the benchmark levels for Fannie Mae and Freddie Mac’s multifamily housing goals for 2023 and 2024.
15 Dec 2022
OCC Reports Improvement in Overall Mortgage Performance
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system improved during the third quarter of 2022.
15 Dec 2022
Following NY Zombie Home Law, Fewer Abandoned, Unsightly Homes on Staten Island
Since a 2016 state law was enacted to help reduce the zombie property epidemic across New York, there are 311 fewer abandoned properties on Staten Island.
13 Dec 2022
$1 Million in ARPA Funds to Build Affordable Housing in Clark County
Over the next 3 years, Clark County will build approximately 12 affordable homes on land owned by the Clark County Land Reutilization Corporation, also known as the Land Bank.
9 Dec 2022