The complaint was the result of a four-year long investigation of more than 2,300 Fannie Mae-owned properties across 39 metropolitan areas, including 78 homes in Indianapolis. More: From the archive: Are foreclosed homes better maintained in white neighborhoods? Complaint: Fannie Mae exacerbated damage of mortgage crisisįannie Mae was accused in the 2016 complaint of purposely failing to maintain its foreclosed properties in middle- and working-class Black and Latino neighborhoods to the same quality it does for foreclosures it owns in comparable white neighborhoods. “These funds will provide a needed boost to rehab vacant homes in need, assist in homeowner repair projects, and support grassroots organizations in our hardest hit neighborhoods of color to stop any further deterioration and loss of housing stock.” “Far too many of Indianapolis’ Black neighborhoods are still suffering from the foreclosure crisis and the subsequent loss of owner-occupied housing units,” said Amy Nelson, executive director of the Fair Housing Center of Central Indiana, in a press release. The Fair Housing Center of Central Indiana, along with the National Fair Housing Alliance and 19 other local fair housing organizations throughout the country, reached a landmark agreement with Fannie Mae to resolve a housing racial discrimination case filed in 20 alleging that Fannie Mae treated foreclosed homes in communities of color unfavorably. Indianapolis' communities of color hit hard by the foreclosure crisis may soon be able to benefit from $755,000 in relief as part of a $53 million settlement by Fannie Mae, the federal mortgage association, announced Monday. The final sale must close within 60 days of the offer being accepted, according to the Fannie news release.Watch Video: Housing value gap exists for black homeowners in Marion County
To be eligible to participate in Fannie’s HomePath seller assistance program, offers must be submitted to the program by Dec. “More than 87,000 families have purchased HomePath properties in the first half of 2010 - nearly double the number of Fannie Mae foreclosed properties sold in the first half of 2009," Terry Edwards, executive vice president of Fannie Mae's Credit Portfolio Management, said in the news release. HomePath properties are foreclosed properties such as single-family homes, condominiums and town houses owned by Fannie and for sale through the government-sponsored enterprise. The selling agent or broker representing the owner-occupant will receive a $1,500 selling bonus, according to the Fannie news release. 23 news release issued by the government-sponsored enterprise, qualified homebuyers who will be owner-occupants of a for-sale foreclosed property can receive up to 3.5 percent of the final sales price toward closing cost assistance for things such as a home warranty and other costs.
Appraisal Regulatory System Modernization.
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