Freddie Mac will now allow conventional financing for manufactured housing

Freddie Mac will soon see no difference between certain manufactured homes and traditional single-family housing from a financing standpoint. The government-sponsored enterprise announced Friday that it is rolling out a new financing program for manufactured housing that will bring conventional financing to factory-built housing.
Source: HousingWire Magazine

With foreclosures dwindling, investors turn to direct buyers for new single-family rentals

In the wake of the housing crisis, institutional investors became some of the biggest buyers of foreclosed homes, buying the properties on the cheap and turning them into single-family rentals. Now, with foreclosure inventory shrinking, investors are turning to a new outlet to buy homes to turn into rentals – direct buyers.
Source: HousingWire Magazine

Airbnb is getting into the homebuilding business

There’s about to be a new homebuilder on the market, and it’s a name that you’re likely familiar with – Airbnb. Yes, the short-term rental platform, which to this point has specialized in helping people rent out their houses or apartments, is going to start building homes of its own, ones that are designed to be shared.
Source: HousingWire Magazine

Waters reignites call for flood insurance resolution

This week, Ranking Member of the House Committee on Financial Services Maxine Waters, D-Calif., made another plea for a short-term extension for the National Flood Insurance Program.
Source: HousingWire Magazine

Attention business travelers: Marriott reveals massive data breach

Marriott revealed on Friday that guest data for its Starwood properties was illegally accessed by an unauthorized party. According to information from the company, for approximately 327 million guests, personal information, perhaps credit card information, and more was compromised.
Source: HousingWire Magazine

FHA automates reverse mortgage second-appraisal process

The FHA fully automated the second-appraisal process for HECM lenders on Friday, a move it had promised would come by December 1st. Now, lenders will receive an immediate, automatic response on whether or not a second appraisal will be required before the loan can proceed, curbing some concerns about how much time a second appraisal would add to the loan process.
Source: HousingWire Magazine

Europe’s Round Hill Capital partnering with Cortland to invest in U.S. multifamily housing

In what’s becoming far more commonplace these days, another international investor is planning to buy into the U.S. multifamily market. Round Hill Capital, a Europe-based real estate investment, development and asset management firm, is partnering with Cortland to invest in the U.S. multifamily market.
Source: HousingWire Magazine

Affordability divides America's cities

In November, while home sales in large U.S. metros cooled off, smaller affordable markets continued to heat up, according to the latest realtor.com Housing Report. Realtor.com Chief Economist Danielle Hale said the housing market is a “tale of two cities” as the divergence widens between these markets.
Source: HousingWire Magazine

Freddie Mac makes another LIHTC investment, inks deal with Boston Financial

Freddie Mac, which recently re-entered the Low-Income Housing Tax Credit market for the first time in nearly 10 years, is making another investment in affordable housing. The GSE announced this week that it closed its first LIHTC Fund with Boston Financial Investment Management and made its first investment in the fund.
Source: HousingWire Magazine

Senate votes to advance Kathy Kraninger as next CFPB director

Voting along party lines, the Senate voted Thursday to close the debate and move forward with the nomination of Kathy Kraninger to serve as director of the Consumer Financial Protection Bureau. The procedural vote sets up an official confirmation vote, which should occur in the next few days.
Source: HousingWire Magazine