First-time homebuyers seeking loans backed by FHA, VA or the Rural Housing Service are among those eligible for the DPA program under the Build Back Better Act.
The spending bill would direct $300 million for HUD information technology systems, including those that support FHA mortgage insurance programs and grant programs.
While FHA plans to provide low-cost financing for borrowers mitigating climate hazard, Ginnie said it will consider backing housing programs with environmental, social and governance innovations.
The Government Accountability Office warned the FHA Catalyst technology modernization program faces an increased risk of outspending its planned $91.9 million budget.
HUD joins FHFA in limiting sale of REO property to investors. The plan is to make sure more affordable housing is available to private buyers and nonprofits.
In a bid to bring 100,000 new affordable homes to market for purchase or rent in the next three years, HUD will limit the sale of certain FHA-insured and HUD-owned properties to institutional investors.
The mortgage industry wants HUD to reconsider its proposal to recodify the 2013 disparate-impact theory as it predates and is inconsistent with binding Supreme Court precedent.
Servicers of government-insured lending programs face new requirements from HUD to offer updated payment forbearance options to homeowners who faced financial difficulties during the pandemic.
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