(RECAP: The Arlington County Board today went to preserve 68 affordable apartments in the Westover neighborhood, approving a $10.9 million Affordable Housing Investment Fund allocation to the non-profit Arlington Partnership for Affordable Housing (APAH). The loan and associated documents will be considered by the Board in December. APAH will use the proposed loan to help it buy market-rate units within eight apartment buildings. The affordable housing developer intends to renovate the units and guarantee their affordability to families earning at or below 60 percent of the area median income for 60 years.)

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(RECAP: The Charlottesville Board of Architectural Review has partially approved the design of a project to construct a six-tale apartment complex behind two existing buildings on West Main Street. The BAR approved the massing and scale of the project in February and held a preliminary discussion on the design project in July. Two buildings currently on the site will be retained as part of the projects. One is the home of the Blue Moon Diner and the other is a convenience store. Parts of the convenience store will be removed. The project currently features 53 residential units that will be a mix of studios and one- and two-bedroom units. The BAR granted approval of the building’s elevations, materials and colors. Architect Jeff Dreyfus will need to come back with details on windows, handrails, lighting, landscaping and signage before final approval can be granted. A fact sheet provided states the developer hopes to start construction early next year and open the building in the summer of 2018.)

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(RECAP: This weekend marked the official launch of Fannie Mae’s Desktop Underwriter Version 10.0, implementing the long-awaited use of trended credit, a change that could open up the credit box to potential borrowers previously unable to get a mortgage due to their credit history. So what’s with the huge hype around trended credit data? Trended credit data, according to Fannie, allows a smarter, more thorough analysis of the borrower’s credit history and helps creditworthy borrowers obtain access to mortgage credit and sustainable homeownership. This latest update to Desktop Underwriter is significant because it includes the requirement that lenders must start using trended credit data when underwriting single-family borrowers. Fannie is working with Equifax and TransUnion to provide the data.)

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