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Can No Down Payment Mortgages Close the Homeownership Gap?

Pro Builder

Bank of America is offering zero down payment mortgages to first-time minority homebuyers in five U.S. This week, Bank of America announced that it will be offering zero down payment mortgages for first-time buyers in historically Black and Hispanic neighborhoods in five U.S. Financing. Fri, 09/02/2022 - 09:54.

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Electrical Component Shortage Requires Action

Pro Builder

Acquisition, Development, and Construction Credit (AD&C) credit continued to become less available and generally more costly during the third quarter of 2022, according to NAHB’s Survey on AD&C Financing. Additional detail on current credit conditions for builders and developers is available on NAHB’s AD&C Financing Survey web page.

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Will the New York Green Bank Spur Increased Energy-Efficiency Investing Outside of the State?

Construction Dive

What will be the nationwide impact, if any, of the New York Green Bank, a bank that opened for business earlier this month with a partial mission of stimulating private financing of energy-efficiency projects? ” Will it? Read more.'

Banking 48
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Jumbo Loans Are Near 2008 Again

Pro Builder

Originations of large jumbo loans that exceed the conforming limits set for Freddie Mac and Fannie Mae could hit a level this year that hasn’t been seen since the run up to the 2008 credit collapse, according to a weekly report from Bank of America. and European bank bailouts. Financing.

Banking 52
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Green Building Bonds as a Game Changing New Source of Capital

Green Building Law Update

While bond financing can have higher transaction costs than oft used mortgage backed loans, even in large dollar amounts as in this instance, it is significant that there was strong market demand for these unsecured bonds that drove the lower interest rates. In November 2013, Bank of America issued the first ever U.S.

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A Year in Record-Breaking Mortgage Rates

Pro Builder

America braces itself, as do lenders. Crucially, on March 23 Federal Reserve Chairman Jerome Powell announced the central bank would make “unlimited” MBS purchases, pushing the average 30-year fixed mortgage back down to 3.5% Financing. Prior to the national emergency issued on March 13 and the 1.8 Read More. .

Finance 52
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PACE Bill Due in Baltimore City

Green Building Law Update

PACE state enabling statutes generally authorize local governments to engage private sector lenders to provide upfront low interest financing to property owners for qualified projects (e.g., providing opportunities to separately finance the top 20% of a construction project or.),

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