The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

Black HomeownershipPolitics & Money

NAR comes out strong against AFFH fair housing rule termination

President's tweet on AFFH yesterday stirs up controversy

On Wednesday, President Donald Trump tweeted about his administration’s actions in abolishing the Obama-era AFFH fair housing rule – a move which we covered on July 23.

In his tweet, President Trump wrote (among other things): “I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood… Your housing prices will go up based on the market, and crime will go down. I have rescinded the Obama-Biden AFFH Rule. Enjoy!”

For context, the Trump administration formally announced last week it would terminate the Obama-era rule regarding the implementation of the Affirmatively Furthering Fair Housing, or AFFH, provision of the 1968 Fair Housing Act, according to Housing and Urban Development Secretary Ben Carson.

At that time, Carson alleged the provision has proven “to be complicated, costly, and ineffective.”

President Trump’s tweet on Wednesday ignited heated reactions from both sides of the fence. We reached out to industry organizations to get their perspectives on the administration’s actions.

The National Association of Realtors came out strong on Wednesday, expressing its disappointment that HUD was “retreating” on its decades-long policy requiring that communities receiving taxpayer money address discrimination and segregation.

The organization pointed out that, following the administration’s initial proposal in January, NAR had publicly commented that the changes threatened to strip away the rule’s original civil rights purpose, as mandated by the 1968 law.

In a statement on Wednesday, NAR President Vince Malta, a broker at Malta & Co. Inc., in San Francisco, said NAR’s commitment to fair housing and the property rights of all remains “unwavering.”

“Discrimination and bias have absolutely no place in housing,” he added. “We will continue to push all policymakers in Washington to ensure that the federal government promotes equality and eliminates discrimination in the housing market, for the benefit of all.”

The Mortgage Bankers Association (MBA)’s response today was simple, but to the point: “The Fair Housing Act remains a vital law and is something MBA strongly endorses.”

AIME, the Association of Independent Mortgage Experts, declined to comment.

Leave a comment

Most Popular Articles

Millions will enter housing market in 2021: Zillow

Up to 2.5 million households could enter the housing market in 2021, per Zillow. The buyers will descend on the “secondary cities” across the U.S.

Apr 07, 2021 By

Latest Articles

William Raveis ain’t no stinkin’ iBuyer

Like others, resi brokerage & lender William Raveis is happy to buy your home. But its new program doesn’t mean it’s an iBuyer.

Apr 09, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please