Workforce cuts, the rescission of Fair Housing initiatives and COVID assistance, and multiple pathways for Fannie Mae and Freddie Mac are all under discussion at the federal housing agencies
Royal Bank of Canada subsidiary now offering grants of up to $50K in minority census tracts in the metro LA market as part of larger initiative to boost lending in underserved communities
To qualify for grants being made through Wells Fargo's existing Special Purpose Credit Program, homebuyers can't earn more than 120% of the area median income
The bank says it has racked up $353M in severance expenses, primarily in mortgage, as it closes branches and pursues a 'more focused home lending business'
Executives hope to reduce risk by reducing the size and narrowing the focus of bank's mortgage business to better serve retail customers and minority communities
The new zero down, zero closing cost mortgage Community Affordable Loan Solution is part of a $15B commitment to help 60,000 individuals and families purchase homes by 2025