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News from 2021

Fannie Mae Underwriting Changes Work to Bridge Homeownership Gap

“This new procedure will utilize information already available to lenders without adding any burden to homebuyers. By analyzing bank statements that have already been submitted, Fannie Mae’s Desktop Underwriter automated underwriting system will be able to confirm that past rent payments were made on time. When Fannie Mae tested the system on past applicants that were not approved, 17% would have qualified using the new policy. This will have a material impact on mortgage applicants who are qualified but have been left out of homeownership.” – David M. Dworkin

The Foreclosure Ban

“Power Players: David Dworkin: Dworkin is the president and CEO of the National Housing Conference, an affordable housing advocacy group that successfully lobbied for the inclusion of a $10 billion Homeowner Assistance Fund in the March 2021 Covid relief package. The fund is meant to provide help to homeowners struggling with monthly payments.”

Shuttered Hotels, Motels Find New Life

“This country will never be a great nation with people living on the street…We have to address (the needs of) more people who can’t afford to rent on their own.”Too many people get up in the morning, exit their cars, wash up in someone’s public bathroom and go to work everyday. That’s just unacceptable.” – David M. Dworkin

Mortgage fees to help pay for Biden infrastructure bill

“The two dozen groups which signed onto a letter opposing the g-fee increase included trade groups such as the Mortgage Bankers Association, the American Bankers Association and the Housing Policy Council; affordable housing advocates such as the National Housing Conference, as well as the National Association of Realtors, which represents real estate brokers.”

Is an Infrastructure Investment in Housing on Its Way?

“Certainly the repair of government-built public housing is an obvious case to be defined as traditional infrastructure. It’s physical, the government built it, it needs to be repaired. The question I have is, how is that not infrastructure?” – David M. Dworkin

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