(RECAP: Hispennials, or Hispanic Millennials, view their finances differently than the majority of Millennials, according to a recent study by Wells Fargo. One of the most notable differences is that Hispennials are more likely to provide supportfor extended family members, the survey shows. About 30% of Hispennials say they are currently providing financial support to two or more generations of their family, versus 14% of total Millennials. This trend shows through even when it comes to buying a home. Hispennials are more likely than any other race or generation to use a gift to pay their down payment on a home, said Frank Fuentes, New American Funding vice president of multicultural community lending. Hispennials report a slightly lower income level of $31,100, compared to $33,800 reported by the general population. On the other hand, Hispennials report a significantly lower student debt amount at $10,267, compared to the median reported by general-population millennials of $19,978.)

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(RECAP: A majority of Americans worry about becoming homeless, according to a new survey by the NHP Foundation. The national shortage of affordable housing is at crisis levels – the country is losing roughly 125,000 affordable rental units a year – and the need to provide high-quality housing for low and moderate income families is an urgent concern. In addition, as the country continues to slowly recover from the recession, families at all income levels are concerned about the rising cost and health of the housing market. Only 20% of those polled were unlikely to welcome affordable housing in their neighborhoods.)

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(RECAP: In the first update for the form in more than 20 years, government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac have redesigned the Uniform Residential Loan Application (URLA – Fannie Form 1003/Freddie Form 67) in order to make it simpler to use and to add new data fields for increased reporting under the Home Mortgage Disclosure Act. The new version includes simplified terminology and a clearer set of instructions for users, according to the GSEs. This, in turn, will help borrowers complete the loan application with less help from the lender. As part of the project, the GSEs worked together to make a common corresponding data set, called the Uniform Loan Application Dataset, to ensure consistency of data delivery. Lenders may start using the redesigned forms on Jan. 1, 2018; but, as of right now, there is no deadline set for their required use. The updating of the form is part of the GSEs’ Uniform Mortgage Data Program, a larger joint initiative under the direction of the FHFA, to standardize single-family mortgage data in the U.S.)

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