Housing Finance
Senate Panel Approves $1.8 Billion Budget Increase for HUD
The Senate Appropriations Committee has unanimously approved $44.5 billion for HUD in fiscal 2019, which is $900 million more than the House legislation and $1.8 billion above the fiscal 2018 enacted level. The following are fiscal 2019 funding levels approved by the Senate panel for key HUD programs: The HOME program received $1.4 billion for […]
VA Changes Approval Process for Site Condos in Michigan
In an important victory for NAHB and Michigan home builders, the Department of Veteran Affairs has announced a major change that will waive VA’s site condo approval process for single-family detached homes in the state of Michigan.
Banking Regulatory Relief Bill Clears Congress, Will Help Ease Tight Credit Conditions
The House today approved bipartisan legislation approved by the Senate in March that will roll back some of the Dodd-Frank rules on banks that will eliminate some of the barriers to credit availability and support a stronger, more robust recovery of the housing and mortgage markets.
CFPB Finalizes ‘Know Before You Owe’ Rule
The Consumer Financial Protection Bureau (CFPB) has announced that it has finalized an amendment to its “Know Before You Owe” mortgage disclosure rule that addresses when mortgage lenders with a valid justification may pass on increased closing costs to consumers.
NAHB Holds Productive Meeting with Treasury Secretary
The U.S.-Canada softwood lumber trade dispute, housing finance reform and tax-related housing issues were on the agenda when NAHB Senior Officers recently met with Treasury Secretary Steve Mnuchin in Washington, D.C.
Federal Regulators Approve Doubling Appraisal Threshold for CRE Transactions
The threshold for commercial real estate transactions that require an appraisal was increased from $250,000 to $500,000.
Rural Housing Service Proposes Changes to Eligibility Maps
The USDA Rural Housing Service (RHS) has proposed changes to certain areas eligible to receive financing for RHS housing programs. The changes could affect whether certain communities will still have access to Section 502 loans, which are used primarily to help low-income households buy homes.
Help Your High-Performance Home Appraise as it Should
As any green home builder can attest, getting accurate valuations on high-performance homes is no easy feat. The sustainability and efficiency aspects built into the building envelope are not often visible to the untrained eye. Luckily, builders can protect their investment and realize the full market potential of their home.
HELOCS Deductible for Capital Improvements, IRS Says
In a victory for NAHB remodelers, the IRS today issued a letter clarifying changes to home equity loans and lines of credit to confirm that households may take a tax deduction when these loans are used for home improvements.
80 Years and Counting: More Storage, Please
Despite eight decades and a multi-generation divide, prospective home buyers in 1938 expressed preferences for many of the same features and amenities favored by today’s home buyers.
