HUD announces $12B in long-term disaster assistance across 24 states
The funds will aim to support multiple communities impacted by hurricanes, wildfires and more in 2023 and 2024.
Regulatory
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California will require home insurers to offer policies in high-risk wildfire areas
California has a new regulation that aims to increase home insurance options in wildfire-prone areas after some insurers left the state.
Trump’s pick to lead HUD has opposed aid programs for the poor
A ProPublica report examined prior statements and legislative activity by Turner, who dismissed the report as painting a “negative picture.”
CFPB sues Rocket, The Jason Mitchell Group over RESPA violations
The CFPB is accusing Rocket Homes of orchestrating a kickback scheme to funnel business to its sister companies.
Trade groups push for flood insurance extension ahead of potential government shutdown
With a federal government shutdown looming, housing and insurance groups are urging an extension of the National Flood Insurance Program.
New MBA securities proposal mentions HMBS 2.0 as ‘logistical template’
A new MBA proposal for a Ginnie Mae securities product could be taking inspiration from recent actions in the reverse mortgage business.
CBO report shows GSEs have better conditions to repay Treasury by recapitalizing
The Congressional Budget Office (CBO) released a study on Friday suggesting that a recapitalization of the government-sponsored enterprises could benefit the U.S. Department of the Treasury in most scenarios.
NYC council approves sweeping plan that includes 82,000 homes
The “City of Yes” plans calls for the construction of 82,000 new homes over the next 15 years to address the Big Apple’s housing crisis.
Senate leaders sound off on Scott Turner’s HUD nomination
Tim Scott and Elizabeth Warren, who are likely to be influential in the Senate Banking Committee in 2025, weighed in on the HUD nominee.
How Trump’s plan to ‘seal the border’ impacts housing construction and affordability
The Trump administration’s attitude on undocumented immigration could block further progress for increasing new-home supply.