New home sales took a hit for the fourth-straight month in April as buyers grappled with the new reality of rising home prices and mortgage rates in excess of 5 percent, according to Census Bureau data. Continue reading
One month after the Biden administration announced its $86 million five-point plan to combat racial discrimination in the lending and appraisal industries, the Department of Housing and Urban Development has released its own equity action plan that out… Continue reading
The five-point plan seeks to make the appraisal industry more accountable, arm consumers with assistance, prevent algorithmic bias, cultivate a more diverse appraisal industry, and leverage federal data to benefit research and policymaking. Continue reading
The New York-based startup helps lenders discover bias in algorithms and take a second look at rejected applicants using “cutting edge AI fairness techniques.” Continue reading
Sales of new single-family homes notched a seasonally adjusted annual rate of 800,000 in September 2021, while the median sales price hit a new record of $408,800. Continue reading
Privately owned housing starts beat expectations in August while single-family starts declined by nearly 3 percent, according to data issued Tuesday by the US Census Bureau. Continue reading
HUD is not required to disclose flood risk to would-be homebuyers, most of whom didn’t learn that the home they were interested in was located in a flood zone until they were told by their lender that they needed to buy flood insurance. Continue reading
The Biden administration wants to give owner occupants a better shot at purchasing homes repossessed by HUD, Fannie Mae and Freddie Mac. Continue reading
Report finds seven federal agencies, including the U.S. Department of Housing and Urban Development, have failed to protect Americans’ personal and financial information. Continue reading
In a move that could pose challenges for lenders that employ AI and algorithms to evaluate borrowers, federal housing officials are moving moving to rescind policies to protect lenders and other businesses from claims of inadvertent discrimination. Continue reading