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REwired

Fannie Mae EXCLUSIVE: The crisis in affordable rental housing, Part 2

Working toward solutions
With the Section 8 Housing Choice Voucher Program, low-income renters in the program pay 30% of their incomes toward housing, with the federally funded program paying the balance to the landlord up to a set maximum. Demand is so great, however, that thousands of families can linger for years on waitlists in some cities with no assurance they will ever receive a voucher. Created in the 1970s, it may be time to take a fresh look at the voucher system to ensure we're effectively serving today's households.
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Fannie Mae EXCLUSIVE: The crisis in affordable rental housing, Part 1

How we got here
Multifamily construction didn’t really rebound after the crash until 2013. Even still, it's playing “catch up.” In addition, construction of subsidized housing has declined as a percentage of all new multifamily construction and now represents only around a fifth of new construction annually – not enough to keep pace with demand. This is the first of a two-part EXCLUSIVE from Fannie Mae to readers of HousingWire.
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Monday Morning Cup of Coffee: HUD budget shows cuts still run deep

Proposed budget puts increased responsibility on state and local governments
The draft of HUD’s proposed 2018 budget calls for “increased responsibility on state and local governments and calls for the private sector to do more to meet community needs.” The proposed budget also eliminates the Housing Trust Fund, a program financed by Fannie Mae and Freddie Mac profits. Also, where is the next emerging market for mortgage lending? Here's where, according to the CEO of Caliber Home Loans.
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Mortgage data isn't secure: Here's why and how to fix it

The risk of a major attack is growing
The mortgage market suffers from a security dichotomy — haves vs. have-nots. The biggest players boast well-advanced security and large, dedicated security teams, while the smaller companies struggle. This means that the risk of a major attack is growing.
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Here are 3 ways to help consumers make better home-buying decisions

Consumers spend more time selecting a TV than their lender
Consumers spend more time selecting a TV than choosing their lender or real estate agent. So what we can do differently in the lending process and with our real estate partners to fix this? Here are three tips to ensure we arm the consumer with what they need to make a better decision during the home-buying process.
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Closing Call

Taking ID verification to the MAXX

New tool lets lenders validate borrower's identity, character references
With its latest tool, IDMAXX, Pavaso has enabled lenders to achieve two aims with one solution. By leveraging a borrower’s network for both identity verification and character references, lenders can be assured that 1) the borrower is who they claim to be and 2) the total picture they have of that borrower, and the risk that borrower may pose, is accurate and complete.
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Redefining when the mortgage process starts

It's not what you think
Traditionally, there is plenty of jockeying for position amongst the differing players in the real estate transaction, particularly between lenders and realtors, over who owns the relationship with the consumer. Be warned: There isn’t going to be any place for that kind of possessiveness in the post-TRID market.
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The production challenges beyond TRID

Transitioning to a digital space
If the mortgage industry is serious about addressing the longer closing times created by TRID, not to mention attracting millennials as potential homebuyers and/or employees, it has got to get with the times. And the times? They are digital.
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A new era of solutions

Recapping last week's posts and tech progress this year

Solutions exist today that can help with a large majority of the business process shifts that will result from the rule. And the last year has provided an opportunity for them to solve things further.  


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