The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

How demographics shaped the housing market in 2021

The U.S. housing market entered a period of the best housing demographics ever recorded in history the same year that COVID grabbed hold of us.

@properties CEOs talk company growth and franchising

In this episode of HousingWire Daily, Mike Golden and Thad Wong from @properties discuss the future for the company including its nationwide franchising plans as it expands.

Keep Up With the Latest Third Party Origination News

Want to stay up to date with the latest on the third party origination front? We designed a specific news hub with lenders and brokers in mind, with Rocket Pro TPO leading the discussion.

Politics & MoneyMortgage

Another $15K first-time homebuyer tax credit bill emerges

Fair housing advocates argue that a tax credit will not increase minority homeownership and that a direct cash subsidy would be more effective

Questioning First-time homebuyer tax credits

The much-talked-about $15,000 first-time homebuyer tax credit has made another appearance in Washington, D.C., this time as part of a housing bill introduced in the U.S. Senate. Though certain provisions of the bill contain some of the boldest proposed housing policy changes on record, affordable housing advocates say there’s one critical shortcoming.

The latest iteration, proposed by Senator Ron Wyden (D-OR), is nearly identical to a bill introduced in the House of Representatives earlier in the year. But there are some important changes within Wyden’s version, which is dubbed the “Decent, Affordable, Safe Housing for All (DASH) Act.”

Wyden’s bill would allow a borrower to use the tax credit for up to 20% of the purchase price, whereas the House’s version allows up to just 10%. The change is focused on helping low-to-middle income earners, but the definition of who qualifies as a first-time homebuyer has also notably been tweaked.

In Rep. Earl Blumenauer (D-OR) and Rep. Jimmy Panetta’s (D-CA) House bill, a first-time homebuyer is defined as someone who has “no present ownership interest in any residence during the three-year period ending on the date of the purchase of the residence.”

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    Most Popular Articles

    Treasury removes restrictions on investment properties

    The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac.

    Sep 14, 2021 By
    3d rendering of a row of luxury townhouses along a street

    Log In

    Forgot Password?

    Don't have an account? Please