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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? 2 However, these potential clients will also face challenges — namely market volatility, unpredictable interest rates and limited purchasing power due to increasing debt.

Finance 437
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Change Lending keeps CDFI certification after agreement with US Treasury 

Housing Wire

The CDFI certification is a designation given by the Treasury Department CDFI Fund to specialized organizations that provide financial services to low-income communities and people who lack financing. At least 60% of a lender’s financing must target low- and moderate-income borrowers or customers in underserved communities.

Lending 375
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HUD creates research grant to analyze office-to-residential conversions

Housing Wire

HUD will aim to support researchers as local communities, counties and states seek to find new solutions to housing shortages according to Solomon Greene, principal deputy assistant secretary for policy development and research at HUD. Over the past century, New York City’s zoning codes have grown from 14 pages to more than 3,500.

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. “It These clients are typically low on funds, which is why they need this type of financing. Potter added: “Government lending would come to a halt. points from the 7.5%

VA loan 447
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RE/MAX lays off 7% of staff in reorg

Housing Wire

In the same filing, RE/MAX announced that it had let go of Adam Grosshans, the firm’s principal accounting officer, as part of the reorganization. She was also appointed as RE/MAX’s new principal accounting officer. Denver -based real estate giant RE/MAX announced that it was laying off 7% of its staff on Friday.

Principal 369
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HUD, Indianapolis take control of local housing agency to ‘restore public confidence’

Housing Wire

The move, which will effectively allow local and federal authorities to share control of the organization, is designed to “restore public confidence in and accountability over” IHA, according to HUD. ” HUD’s first action is to replace the IHA board with Kimberly Wize, who serves as HUD’s Indiana field office director.

Principal 386
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Fannie Mae, Freddie Mac impose new fee for some securities transactions

Housing Wire

Fannie Mae and Freddie Mac plan to charge a new 50 basis-point fee for certain structured-finance offerings that use co-mingled agency securities as the underlying collateral. . The fee will apply to securities issued through structured-finance offerings known as Supers, and separately, real estate investment conduits (REMICs).

Finance 366