NHC and ICE host tech summit 

NHC and Intercontinental Exchange (ICE) held an event titled “Revolutionizing Homeownership: Innovations in Mortgage Tech, AI, and Data.” The forum brought together policymakers, industry experts, and leaders to examine how emerging technologies are reshaping the housing sector, with a particular focus on advancements in mortgage platforms, Artificial Intelligence (AI), and data transparency. 

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra keynoted the event highlighting the agency’s efforts to consider changes to mortgage regulations aimed at simplifying the refinancing process, lowering closing costs, and fostering competition in closing fees. “The CFPB is exploring whether we should make certain changes to the existing mortgage regulations to streamline the refinancing process and to reduce closing costs,” said Chopra. “We are especially interested in the costs and time taken to refinance a mortgage that are exclusively related to complying with federal mortgage law, rather than steps that are demanded by investors. We will also be identifying ways to jumpstart competition in various closing costs, which can also help spur refinancing activity.” 

Throughout the forum, participants heard from industry leaders who shared insights into how the latest technological innovations are automating and simplifying the home buying process. Anne Marie Pippin, Deputy Director of Division of Conservatorship Oversight and Readiness, at the Federal Housing Finance Agency, moderated a discussion about AI’s expanding role in market stability, its impact on property valuation and lending practices, and the importance of ensuring fairness and accuracy in these systems. Panel discussions also emphasized the growing importance of data transparency, which is empowering consumers to make more informed decisions throughout the homeownership journey. 

Tim Bowler, President of ICE’s mortgage technology division, underscored the role of technology in improving the homeownership process. “The largest investment most will make in their lives, owning a home is also key to building generational wealth and helping narrow historic income inequalities. The thoughtful application of technological innovation has a critical role to play here. An integrated, end-to-end, digital housing finance ecosystem removes friction from the complex process of buying a home – reducing time and costs for all involved, increasing the flow of liquidity, and expanding access to the American Dream.” 

To view the panel sessions and more details about the event, click here. 

Diana Reid to lead Freddie Mac 



Freddie Mac has named Diana Reid to serve as its next chief executive officer, effective immediately. Ms. Reid has four decades of banking, real estate, and housing experience and comes most recently from PNC Financial Services Group, Inc.’s real estate business division. Prior to that, she founded Beekman Advisors and spent twenty years at the investment bank formerly known as Credit Suisse First Boston in Mortgage Trading, Debt Capital Markets, and Financial Institutions Advisory. President and Interim CEO Michael Hutchins will continue as Freddie Mac’s president. 

“Diana’s proven track record and vast experience in housing finance, real estate and capital markets make her an excellent choice to further Freddie Mac’s mission-driven work. I have the utmost confidence that she is the right person to take Freddie Mac into the future,” said Lance Drummond, non-executive chair of Freddie Mac’s Board of Directors.  

FHFA Director Sandra Thompson applauded the selection, stating “I am delighted that Freddie Mac has selected Diana Reid as its next CEO. Diana brings with her decades of experience in mortgage banking and capital markets, as well as a proven track record of executive leadership. I look forward to working with her to build upon Freddie Mac’s mission to promote affordable housing throughout the country in a safe and sound manner. I am also grateful to Mike Hutchins for his leadership during this interim period as Freddie Mac completed its search for a permanent CEO.” 

“It is an honor to join Freddie Mac and lead the company as it carries out its vital role in the housing finance market,” said Diana Reid. “I look forward to working with the Board, management and my colleagues at Freddie Mac to continue and expand the company’s contributions in providing liquidity, stability and affordability for housing in communities across the country, and to ensure the company’s safety and soundness for the next generation.” 

Sen. Scott introduces ROAD to Housing Act 

Ranking Member of the Senate Banking Committee Tim Scott (R-S.C.) introduced the ROAD to Housing Act, the housing platform he has been working on since 2023. The legislation spans across key areas of housing policy and takes a comprehensive approach to overall housing reform, including: reforms to housing counseling and financial literary programs that include an ongoing review process of HUD-certified housing counselors; eliminating the cap on the number of public housing units that may be converted under the Rental Assistance Demonstration; updates Regulation Z to increase flexibilities and incentives for originating small dollar mortgages; fully authorizes the Moving to Work program; directs HUD to study work requirements for HUD-assisted residents; updates the definition of manufactured home; authorizes HUD to pay-for-success with 10% set aside funding for homelessness programs with measurable improvements; and requires HUD to prioritize grants to recipients designated in Opportunity Zones, among other things.  

Sens. Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Bill Hagerty (R-Tenn.), Cynthia Lummis (R-Wyo.), Katie Britt (R-Ala.), Kevin Cramer (R-N.D.), and Steve Daines (R-Mont.), all endorsed the bill.  

NHC President and CEO David Dworkin said the bill “includes important proposals to increase mortgage lending in areas that have been too hard for lenders to serve, modernize the definition of manufactured housing, and expand the successful RAD program. While we are rightly focused on areas where housing prices are far too high, there are many areas in the industrial Midwest and rural areas throughout the country where home prices are so low they are difficult to mortgage. As a result, low- and moderate-income homebuyers are left out, particularly people of color, who live in areas where they should be able to buy a home. NHC looks forward to working with Senator Scott to help craft a bipartisan housing bill for the 119th Congress.” 

“I’m the son of a single mother – growing up, we lived with family until we were able to rent a small place of our own. I know firsthand the importance of access to quality, affordable housing. Unfortunately, Democrats’ solution for years has been to spend trillions on programs that have yielded little results, especially for minorities as homeownership rates for African Americans have barely changed in over 50 years,” said Ranking Member Scott. “Costs to buy a home and to rent continue to increase, and homelessness is at record levels. It’s past time for Congress to take serious action to reverse decades of failed housing policies and put all Americans on the road to housing."  

FHFA launches new mortgage loan and natural disaster dashboard 

The Federal Housing Finance Agency (FHFA) unveiled a new online risk analysis tool that uses data to estimate damage and mortgage loan concentrations in disaster prone areas. The tool, called the Mortgage Loan and Natural Disaster Dashboard, looks to give stakeholders insights into which areas are at risk of experiencing damage from various weather events. In an explanatory blog post, FHFA outlines the three data sources used to create the database and how to use it to inform development decisions. Increasing extreme weather events and natural disasters have become particularly concerning for housing and community development policymakers that are already battling supply issues. 

“Climate risks, especially natural disasters, pose a serious threat to housing and other critical infrastructure, particularly in vulnerable communities,” said FHFA Director Thompson. “Providing geographic information on disasters as well as concentrated exposures of loans acquired by our regulated entities can help policymakers and the industry develop solutions to better safeguard those communities from the impact of future catastrophes.”  

HUD updates manufactured housing code 

The U.S. Department of Housing and Urban Development (HUD) announced its most extensive update to the Manufactured Home Construction and Safety Standards in over thirty years that includes over 90 new or updated standards. The updates are intended to increase production and innovation of manufactured homes as well as allow consumer-driven features that are often sought after by purchasers. Some of the important changes include the allowance of up to four-unit dwellings; open floor plans, truss designs, and specifications for attics; ridge roof designs; materials for modern design approaches; accessibility improvements; and modern energy-saving appliances. It also seeks to expedite the home production process by cutting through red tape, such as eliminating the need for manufacturers to obtain alternative construction approvals for materials that already meet HUD standards. The announcement notes the importance of manufactured housing as a tool to help produce more affordable housing and increase overall supply.  

HUD publishes 2025 DDAs, QCTs  

HUD published a notice in the Federal Register establishing the 2025 difficult development areas (DDAs) and qualified census tracts (QCTs) used by the low-income housing tax credit (LIHTC) program. DDAs are areas with high costs for development when compared with the area’s median gross income. QCTs are based on data from the U.S. Census Bureau and are defined as areas where either 50 percent or more of the households have an income less than 60 percent of the area’s median gross income or have a poverty rate of at least 25 percent. Developments in either of these areas can receive a 30% eligible basis boost in LIHTC credits.  

The new designations will come into effect for allocations beginning on January 1, and a list of DDAs and QCTs is anticipated by stakeholders.