Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic development projects in communities and Native American reservations in California, Nevada and Arizona.
Here's a look at the 12 housing markets with the largest percentages of mortgages over $500,000 — the new threshold House Republicans have proposed for the mortgage interest deduction in their tax plan.
Arizona, Nevada, Florida and North Carolina have lost more banks than other states, based on the percentage decline since 2010. Each has a unique set of reasons that goes beyond regulation and a dearth of de novo activity.
Voters in Florida, North Dakota, Montana and Arkansas approved medical marijuana measures on Tuesday, while their counterparts in California, Massachusetts and Nevada approved recreational pot initiatives.
Homeowners associations seeking unpaid dues are seizing on a court decision allowing them to foreclose on properties ahead of banks, and the FHFA is litigating to defend Fannie and Freddie mortgages. Private lenders, meanwhile, are trying to keep the problem from spreading to more states.