(RECAP: A Trulia analysis of U.S. listings shows that 3.9 percent of homes that went from for-sale to pending went back to for-sale again, nearly double the rate in 2015. Such “failed sales” increased in 96 of the 100 largest U.S. metros, with huge swings in areas large and small, rich and poor. The problem of failed sales has been most acute for cheaper homes and older ones: Some 6.3 percent of sales of starter homes fell through last year, according to Trulia’s analysis, compared with 3.6 percent of so-called premium home sales. Homes built in the 1960s had the highest fail rates, while sales of newer and older houses were more likely to go through. Trulia’s data don’t clarify why listings reverted from pending to for-sale.)

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(RECAP: Like Funding, one of the nation’s leading providers of FHA multifamily, affordable and healthcare financing, announced the closing of a $19 million loan that will help preserve and refurbish an affordable senior housing community in Vienna. Tysons Tower was built in 1976 by The Fairfax Education Association Retirement Housing Corporation (FEARHC) to provide affordable housing for senior residents. Part of VHDA’s affordable housing stock, the property was in need of major facility upgrades and its existing rental help contract was set to expire in 2017. FEARHC wished to ensure that the 274 units continue to be reserved for those aged 62 or older and who earn 80 percent or less of the area’s median income. Like Funding Director Ann Bolen was able to secure the new loan through the VHDA, after securing a commitment from HUD’s Rental Help Demonstration (RAD) program for a new 20-year Project Based Rental Help (PRBA) contract on 100 percent of the units.)

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(RECAP: Lower costs are coming for homebuyers seeking a Federal Housing Administration -insured mortgage. FHA announced today that they are cutting annual premiums for mortgage insurance from 0.85 percent to 0.60 percent, a go the National Association of Realtors® said breathes new life into the program. “FHA mortgage products exist to serve an vital mission: providing homeownership opportunities to creditworthy borrowers who are overlooked by conventional lenders,” said NAR President William E. Brown. “The high cost of mortgage insurance has unfortunately place those opportunities out of reach for many young, first-time- and lower-income borrowers. Now, we have a real opportunity to get back on track.”)

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