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23 01, 2023

GSE-012323

2023-01-23T14:41:47-05:00January 23rd, 2023|4- GSE Activity Report|

The Fed’s Heavy Hand on Equitable Housing

Under Director Thompson, FHFA’s top policy priority is equitable housing.  However, a ground-breaking study from Fed staff shows that FHFA is swimming upstream when the Fed raises rates.  Combined with our own research showing that ultra-low rates also accelerate inequitable housing, the best FHFA can do to help lenders reach LMI borrowers is tread water – better than sinking, but still hard work getting pretty much nowhere.

GSE-012323.pdf

8 07, 2022

GSE-070822

2023-01-24T15:22:18-05:00July 8th, 2022|4- GSE Activity Report|

Affordable Housing is Even Harder Than You Thought

A new Fed staff note contains startling statistics on how much the housing market has changed in just a few months at grave cost to lower income households.  Although the study does not go on to draw policy conclusions, its findings make it clear that DTI underwriting tests are a significant barrier to home ownership clearly not ameliorated by the price-based QM standard.

GSE070822.PDF

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