Housing Finance
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.
FHFA Establishes Affordable Housing Goals for Fannie Mae, Freddie Mac
The Federal Housing Finance Agency (FHFA) announced today it has published a final rule establishing single-family and multifamily housing goals for Fannie Mae and Freddie Mac for 2018 through 2020.
NAHB Advocacy: Money in Your Pocket
NAHB economists have put a dollar value on selected member benefits and advocacy victories achieved in 2017. Add it up, and you get an average of $7,500 per housing start for a typical home builder.
Capital Reserve Reinstated for Fannie Mae and Freddie Mac
Federal Housing Finance Agency (FHFA) Director Mel Watt announced today that FHFA and the Treasury Department have agreed to allow Fannie Mae and Freddie Mac (the enterprises) to each maintain a $3 billion capital buffer beginning in the fourth quarter of 2017.
FHA to Halt Insuring New Mortgages with PACE Obligations
On Dec. 7, the Federal Housing Administration (FHA) issued Mortgagee Letter 2017-18 announcing the agency will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments. This reverses policy announced by the agency in July of 2016. The directive applies only to new mortgages.
FHA Loan Limits to Rise in More than 3,000 Counties in 2018
The Federal Housing Administration today announced its loan limits for 2018. The nationwide rise in median home prices indicates buyers in more than 3,000 counties will see increases.
A Positive Development on Housing Finance Reform
House Financial Services Committee Chairman Jeb Hensarling spoke out yesterday on the need to enact comprehensive housing finance reform and acknowledged that a final package would likely contain some kind of federal backstop.
FHFA Publishes Final Guidance on Duty to Serve Program
The Federal Housing Finance Agency (FHFA) today published its final evaluation guidance for its Duty to Serve program. Fannie Mae and Freddie Mac have a statutory duty to support housing finance in three underserved markets — manufactured housing, affordable housing preservation, and rural housing markets.
Fannie Mae, Freddie Mac Maximum Conforming Loan Limits to Rise in 2018
The Federal Housing Finance Agency (FHFA) today announced that the maximum baseline conforming loan limit for mortgage loans acquired by Fannie Mae and Freddie Mac in 2018 will increase to $453,100 from $424,100.
