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Julia Gordon Confirmed as FHA Commissioner


David Dworkin, president and CEO of the National Housing Conference, applauded Gordon’s confirmation. “Julia Gordon brings deep experience to address the significant challenges that face FHA,” he said. “If we are going to succeed in closing the racial homeownership gap, FHA must be in the forefront. Through her leadership of the National Community Stabilization Trust, she has a nuanced understanding of local housing markets and how they can function sustainably even when under stress. She also has the skills, experience, and relationships to bring people together, both within FHA and among stakeholders, to address challenges collaboratively and effectively.”

Pace of inflation eases slightly in April but still at 40-year high


David Dworkin, president and chief executive of the National Housing Conference, said he doesn’t expect home prices to meaningfully fall, because the country is short about 3 million to 5 million homes, and builders are going to be hard-pressed to keep up if borrowing costs and construction costs keep rising. He estimates that the cost of the monthly mortgage payment on a typical single-family home goes up about $200 per month for every one-point rise in mortgage rates.

Agencies Issue Proposed CRA Changes


David M. Dworkin, president and CEO of the National Housing Conference, calls the latest proposal “a significant improvement while being open to additional feedback on key issues. This proposed rule moves CRA into the 21st century with a durable approach that will withstand the scrutiny of future swings in political leadership for at least a decade,” he says in a statement.

The standard home in Canada now costs twice as much as in the U.S. A plan to rein in the ‘stunning’ boom is a test for both housing markets


In Canada, home sales and new listings fell 5.4% in March, while 30-year mortgage rates in the U.S. have already risen sharply. These actions will “temper demand and get the housing market back into balance,” Kavcic says, but they don’t address the nagging housing shortage in both countries. “If we’re not building enough housing, what we’re going to end up with is less affordable housing—and still not enough of it,” Dworkin says.

Freddie Mac first out of the gate with plans for targeted lending programs


The special purpose credit programs will pertain to Black, Latino and Native American borrowers, according to Pamela Perry, head of Freddie Mac’s single-family equitable housing team. The programs will be announced in the third quarter of this year, Perry said during a fair housing webinar hosted by the National Housing Conference, a mortgage trade association.

Biden nominates Michael Barr as Federal Reserve vice chair


David Dworkin, president of the National Housing Conference, which advocates for affordable housing, suggested that Barr’s understanding of Wall Street gives him the right mix of “centrist expertise and progressive policy views” to win confirmation in a closely divided Senate.

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