Affordable housing

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.

The Department of Housing and Urban Development reinstituted the “affirmatively furthering fair housing" measure, which the Trump administration had argued was overly prescriptive, and promised a later rulemaking to bolster the policy.

The funding requests break sharply with the Trump administration's calls to eliminate key housing funds and backing for community development financial institutions. The White House also wants to substantially increase the budgets of the Treasury Department and the Small Business Administration.

Bank of America is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps.

Minority-led community development entities often lose out in getting NMTC support. They know best which investments will have the greatest impact on communities of color.

The end of the refinancing boom and impending rise in rates are not the only challenges lenders face. As one observer put it, they "can't make loans on homes that don't exist."

If passed, the Affordable Housing Credit Improvement Act introduced last week could spur development of 2 million rental units for low- and moderate-income households over the next decade.

Rodney Hood, a board member and former chairman for the credit union regulator, was selected to fill a seat previously held by Todd Harper, who was recently appointed NCUA chairman.

The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020.

Bank of America pledged to add $10 billion to an affordable homeownership program through 2025, tripling its initial commitment.