Housing

The pending budget reconciliation legislation should retain measures meant to support minority homebuyers.

In an open letter to Sandra L. Thompson, President Biden’s nominee for director of the Federal Housing Finance Agency, two longtime advocates of the Federal Home Loan banks suggest a new path forward.

The guarantor of mortgage-backed securities has been without a Senate-confirmed president for four and a half years. The vacancy makes it difficult for other government agencies to coordinate housing objectives, according to stakeholders.

Ensuring the safety and soundness of Fannie Mae, Freddie Mac and the Federal Home Loan banks is the core responsibility of the Federal Housing Finance Agency. That shouldn't change now that the president has the authority to fire the FHFA's director at will.

The White House is working with state and local governments to distribute $46 billion in rental assistance and other programs over the next 30 days, aiming to prevent a flood of evictions when the federal eviction moratorium ends on July 31, administration officials said.

President Biden removed Mark Calabria as Federal Housing Finance Agency director hours after a Supreme Court ruling made the move possible. The administration is expected to offer up a nominee who will prioritize affordable housing and racial equity in housing instead of reforming Fannie Mae and Freddie Mac.

In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments.

The bar to prove discriminatory patterns is so high that plaintiffs would have slim odds of winning lawsuits against housing providers.

For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse.

Rep. Carolyn Maloney, D-N.Y., was finally declared the winner weeks after election day, while Rep. Lacy Clay of Missouri was defeated by a progressive challenger.