Obtaining a mortgage loan can be a major obstacle to becoming a homeowner for many low- and moderate-income Detroiters. The Detroit Mortgage Catalog was developed in response providing a snapshot of some of the products available to borrowers in one place. This comprehensive tool aims to assist the everyday Detroiter in their to pursuit to become a homeowner.

Building on the “Buying In” report, DFC’s the Detroit Homebuyer’s Guide aims to assist current and prospective residents through key obstacles, practical solutions, and legal remedies to help successfully navigate the homebuying process. The guide includes topics focusing on credit assessment and racial discrimination in housing, thus providing pathways and applicable steps to overcoming significant obstacles when obtaining a mortgage in Detroit.

Applications Open for BCV’s Winter 2023 Resident Training Program

Building Community Value will be officially kicking off their 2023 resident training program with applications now open until February 5th! This seven session, in-person training provides participants with the fundamentals of residential and commercial rehabilitation in Detroit. An information session will be conducted virtually on January 23rd, at 6PM EST. Those interested in learning about real estate development are encouraged to apply for this program.

From Harm to Home – Replicating Detroit’s Make it Home Program

The Make it Home Program helped 1,396 tenants purchase their homes for an average cost of less than $10,000 since its launch in 2017. In May 2022, the Center for Community Progress launched the Make it Home National Replication Initiative to explore how the program could work in other communities. This report summarizes the Initiative and serves as a resource for communities interested in establishing comparable programs. The report includes an overview of how Make it Home currently operates, its history, its outcomes, key components for replication, and it identifies with the necessary components for replication. Lastly, the Center for Community Progress shares lessons learned from those implementing this innovative program in Detroit to inform replication in other communities.

Housing Policy Takes the Floor at Detroit’s 2023 Policy Conference

Held on Tuesday, January 10th at the Motor City Casino, the annual Detroit Policy Conference focused on the City’s resurgence and the future of downtown, while also being intentional about inclusivity within neighborhoods and of racial wealth gaps. Notable panels highlighted plans from the City in supporting development, placemaking and green design, and a panel on property taxes in Detroit that included DFC’s own Anika Goss, Nick Allen with Urban Studies and Planning at MIT, & Roderick Hardamon, CEO of URGE Development Group and URGE Imprint. View recordings from the session below and find highlights here.

Reporting Illustrates Consequences of Background Reporting Errors on Access to Rental Housing

An analysis from the Consumer Financial Protection Bureau finds that between January 2019 and September 2022, the agency received tens of thousands of complaints regarding private background screening companies reporting false, misleading or outdated information to housing providers, leading to rental application rejections which disproportionally impact lower-income renters. These analyses comes as the agency has looked into over 24,000 complaints finding that renters often bear the costs of errors and false information in these reports, with few options to make tenant screening companies fix their sloppy procedures. The CFPB has released an advisory opinion stating that false reporting in screening is illegal under the Fair Credit Reporting Act and ways for tenants to submit a report to the agency.

HUD Seeks Feedback on Proposal Addressing Bias in the Home Appraisal Process for People Seeking FHA Financing

In alignment with the PAVE Initiative, HUD Secretary Fudge announced a proposal that would change a current FHA policy to to further solidify the Reconsideration of Value (ROV) process. This change would provide FHA lenders with clear guidance review if concerns arise around unlawful discrimination in residential property valuations. HUD is seeking feedback from stakeholders on this draft proposal until February 2nd, 2023.

Advocates and Grassroots Organizations Release Toolkit Aimed at Defining Narratives Supporting Housing Justice

Grassroots organizations and housing advocates in conjunction with PolicyLink have released the Housing Justice Narrative Toolkit. Through the collaboration of 56 organizations, this toolkit defines the fundamental truths within housing justice while providing for safeguards against common distractions from opposition. The toolkit is grounded in the understanding that key policy solutions are already realized and that what is sometimes needed are different methods to apply the narratives that support these policies. The Housing Justice Narrative Toolkit is designed to support practitioners’ work, from narrative strategy guidance to grab-and-go messages, graphics, and more.