Federal Housing Finance Agency

Mortgage appraisal accuracy became a major concern following the global financial crisis in the late 2000s. A new FHFA Working Paper (by Scott Susin and Will Doerner, Ph.D.) utilizes a large sample from a newly available uniform appraisal database of over 45 million records from "subject" single-family properties and 228 million records from "comparable" homes covering the entire United States from 2015 through 2023. The paper asks whether appraisal time adjustments are made, if they improve fair market measurements, and whether they fix neighborhood appraisal disparities. Results show these readily available corrections are underutilized, too small, and applied less frequently in minority areas, contributing substantially to continuing underappraisal bias. The limited usage of time adjustments accounts for as much as 67% of the underappraisal bias in Black neighborhoods and 49% of the disparity in Hispanic neighborhoods. Read more at https://lnkd.in/eVNG6Hpi. #Appraisal #Mortgage #RealEstate #FairHousing #DataAnalysis

Research has shown that Native American communities are often underrepresented among consumers of traditional financial services. FHFA today announced two partnerships involving Fannie Mae, Freddie Mac, and Federal Home Loan Banks (FHLBanks) to boost awareness and liquidity for programs that expand housing access for tribal communities. In particular, the FHLBank of Des Moines will promote a Freddie Mac mortgage product intended to improve credit access for federally recognized Native American tribal members. Additionally, Fannie Mae will purchase loans originated through the FHLBank Mortgage Partnership Finance (MPF) program — administered by the FHLBank of Chicago — to increase mortgage liquidity for tribal communities. https://lnkd.in/eh5cj4fy

Join us! The Office of Congressional Affairs and Communications (OCAC) has a Senior Communications Specialist (Stakeholder Relations) position available. This position acts as a primary liaison to third-party stakeholder groups with a focus on community engagement, including companies, nonprofits, trade associations, think tanks, and other externally organized entities. Apply by Wednesday, November 13. https://lnkd.in/ewbp7u6V

Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and the FHFA announced the establishment of a Working Group to increase capital for affordable housing lending from the Federal Home Loan Banks. The group will advance the Biden-Harris Administration’s priority of expanding the supply of affordable housing and reducing housing costs for American families and is part of a broad effort by Treasury and the FHFA to ensure that the Federal Home Loan Banks (FHLBs) live up to their housing mission. https://lnkd.in/eDfWtD79

Today, FHFA released its Annual Housing Report describing the affordable housing activities of the Enterprises during 2023. The Report describes FHFA's final review of the Enterprises' 2023 housing goals performance and contains the results of FHFA's evaluations and ratings of the Enterprises' 2023 Duty to Serve performance. https://lnkd.in/edFjYVbG

The UAD Aggregate Statistics Top 100 Metro Areas Dashboard is an interactive list ranking the 100 largest metropolitan areas by annual and quarterly change in median appraised value. Users can select between Enterprise single-family and the newly-added Federal Housing Administration (FHA) single-family appraisal sources. https://lnkd.in/eJnM3Kiw

U.S. house prices rose 0.3 percent in August, according to the FHFA seasonally adjusted monthly House Price Index (HPI?). House prices rose 4.2 percent from August 2023 to August 2024. The previously reported 0.1 percent price increase in July was revised upward to 0.2 percent. https://lnkd.in/e6-gtU7d

The deadline to register for FHFA’s Fall 2024 Econ Summit on Climate Risk is approaching! Register by November 4th to attend in-person and by November 11th to attend virtually. You may register to attend at https://lnkd.in/eq6-ynjf and view the Agenda at https://lnkd.in/eah9Duax. See you there!

FHFA and the U.S. Department of Housing and Urban Development (HUD) today jointly released new appraisal data from loan applications on single-family mortgages submitted to HUD’s Federal Housing Administration (FHA). https://lnkd.in/eBn68siY

Today, FHFA is expanding the UAD Aggregate Statistics with data from Federal Housing Administration (FHA) single-family appraisals. A first of its kind, this release highlights a unique market segment —providing insights into FHA-specific property appraisals. This FHA appraisal data is now available in both the UAD Aggregate Statistics Data File and Dashboards. https://lnkd.in/ei9WCs2w