February 23, 2017
- In the Midwest, there is a different approach to affordable housing. Instead of focusing on multi-family units, like in the larger urban areas, CDCs in the Mid-west are working to build more single-family homes. Their method of affordable housing entails smaller homes and homes built in factories.
- A recent study by the Urban Institute, found that African American home ownership is at its lowest levels since the 1960s, which was during a time of heavy discrimination. Furthermore, the housing crisis of the early 2000s, affected African Americans more than any other ethnic group. As a result, many African American households were forced to foreclose on homes because of the high rates at which they received when purchasing their home.
- Ocwen Financial has suffered another loss. The non-bank was barred from purchasing “mortgage servicing rights in bulk” by the California Department of Business even though the department made a mistake removing the restrictions for the company.