Affordable housing

If a $6.3 billion subsidy only generates a $304 million return in terms of housing and community development support, is that money well spent?

The Federal Housing Finance Agency got an earful from housing experts at a listening session intended to aid a comprehensive review of the financing system.

NBT Bancorp’s planned $10 million commercial real estate fund could have a big upside for its CRA rating, while also improving housing in its communities.

The system may be good for the banks that own it, but it is not meeting its public mission.

The agency is conducting its first price review for Fannie Mae and Freddie Mac products since 2015 to make sure they are generating viable returns. The acting director said that is just one of many questions that must be answered before the enterprises can be privatized.

JPMorgan Chase said it will do a third-party audit of its $30 billion racial-equity commitment, following Citigroup and BlackRock in agreeing to such a review.

GOP opposition and a packed Senate agenda have delayed the vote on Julia Gordon as head of the Federal Housing Administration. But industry representatives say that with FHA delinquency rates still elevated and loan forbearance plans expiring, there's an urgency for Congress to confirm her by year-end.

Democrats’ $3.5 trillion social policy package would appropriate over $300 billion for housing-related measures, including down payment assistance for first-time homebuyers. But those provisions could be on the chopping block as centrists try to trim the bill’s price tag.

Lawmakers appeared supportive of Alanna McCargo's nomination at a Senate hearing Thursday. If confirmed, the former Urban Institute vice president would fill a role that has been vacant since 2017.

Sandra Thompson, who has been acting director of the Federal Housing Finance Agency since June, has won backing from the mortgage industry and community groups for the experience she brings to the role. The push comes as the administration is said to be considering Mike Calhoun of the Center for Responsible Lending.

The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.

Speculation has mounted that Mike Calhoun, president of the Center for Responsible Lending, is under consideration to lead the Federal Housing Finance Agency. His nomination would be an endorsement of proposals to treat Fannie Mae and Freddie Mac in a similar way as publicly regulated power or water companies.

If confirmed, Alanna McCargo would be the first Senate-approved president at Ginnie Mae since January 2017.

The White House and the Federal Housing Finance Agency announced steps to help nonprofits and public agencies buy foreclosed properties, among other initiatives, as part of a plan to boost supply over the next three years.

The Federal Housing Finance Agency in the Trump administration had been preoccupied with Fannie Mae and Freddie Mac’s capital position. Acting Director Sandra Thompson has shifted the agency’s focus to affordable housing and fair lending.

Republicans on the Senate Banking Committee objected to Biden administration picks for key jobs at the Department of Housing and Urban Development based on their past criticism of police practices. The nominees, including the prospective Federal Housing Administration chief, said their statements were taken out of context.

The White House's firing of Federal Housing Finance Agency Director Mark Calabria sparked immediate speculation about who will run the agency and help chart the future of the two mortgage giants. Potential nominees include ex-Obama administration officials, congressional staffers and members of the Biden transition team.

Consumer advocates and mortgage industry officials are urging Sandra Thompson, the new acting director of the Federal Housing Finance Agency, to undo many policies that her predecessor, Mark Calabria, put in place over the past year.

Gordon is currently president of the National Community Stabilization Trust, a nonprofit organization that promotes neighborhood revitalization and housing affordability.

Thompson, who was most recently the deputy director of the FHFA’s Division of Housing and Mission Goals, replaces Mark Calabria, who was fired Wednesday afternoon.