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82 since 2012. While affordability in Detroit decreased 24.2 percent, it fell 20.8 percent in Cleveland. With 29 percent homes that were af- fordable to local teachers earning a salary of $53,800 and a median home price of $170,000, St. Louis in Missouri earned the fourth spot on the list. Philadelphia, Pennsylvania rounded off the top five with 25 percent homes affordable to local teachers earning a salary of around $70,000. Joining these five cities were Baltimore, Maryland; Kansas City, Missouri; San Antonio, Texas; Tampa, Florida; and Atlanta Georgia. Denver, Colorado was at the bottom of this list with only 0.3 percent of homes affordable for local teachers earning a salary of $54,500, the study found. Joining Denver were Oak- land, California; and Phoenix, Arizona. In fact, the study revealed that the recently approved 20 percent raises in teachers' salaries in Phoenix, would increase their maximum home-buying budget from $130,000 to $170,000, and would more than double the share of Phoenix homes affordable to them from 0.5 percent to 1.1 percent. MINNESOTA Wolters Kluwer Releases HMDA Data Minneapolis-headquartered Wolters Kluwer, a risk and compliance consultant, has released the 2017 HMDA (Home Mortgage Disclosure Act) aggregate data of U.S. lenders' mortgage lending transac- tions, collected from individual lenders by the Consumer Financial Protection Bureau (CFPB) and analyzed by Wolters Kluwer for use by its customers. e release shows lending practices in the aggregate, as well as by individual institutions, allowing viewers market insights that are ahead of the federal government's aggregate data report. e Wolters Kluwer data marks the earliest view that lenders have ever witnessed into an aggregated HMDA data set for the prior year's lending. "We are very support- ive of the Bureau having shared individual lender data so soon after the initial March 1 submission," noted Heather Gentile, Senior Director, Compliance Analytics for Wolters Kluwer. "It allowed us to analyze, aggregate and package that data in a manner that provides our customers an early view into how they are performing compared to peers. e earlier lenders have such data, the more effectively they can compare against market peers, make adjustments as needed, and fully implement those lending strategies." On March 30, 2018, the Bureau posted the release of individual institutions' 2017 HMDA modified loan application register data, making it available in downloadable, institution-specific form for all lenders who completed 2017 HMDA transaction data submissions. is approach differs from previous years when institutions' lending data wasn't made available until late in the calendar year. "Wiz users can also import lender- specific data files for analysis using Wolters Kluwer's data import functionality," Gentile said. Wolters Kluwer released the aggregate lending data to its customers at the begin- ning of April. Once the Bureau publishes its aggregated data set in May or June, Wolters Kluwer will process that data set and share with customers, giving them a final Peer Data file with which to work. e aggregat- ed lender data file is available for all Wolter Kluwers Wiz clients via download at the Wiz Web Center. MICHIGAN Michigan and Ohio Make Top 5 For Teacher Affordability Housing affordability remains a huge concern for the nation's educators, according to a study by Redfin. According to the study, In 2018, 11.5 percent of all homes for sale across 28 metros were affordable on an average teacher's salary of $62,860. is is a decrease from 19.7 percent homes being affordable for teachers in 2016. For the study, Redfin used data from the Bureau of Labor Statistics to calculate the av- erage salary by metropolitan area for elemen- tary, middle, and secondary school teachers. Based on these average salaries, the study then looked at all multiple listing service (MLS) listings active on the market in each metro as of May 1, 2018, along with the estimated property tax rates. ese data points along with current homeowners association (HOA) dues, and the property tax rate for each listing were used to calculate the estimated monthly mortgage cost and determined the percent- age of homes where the monthly mortgage payment was equal to or less than the max monthly mortgage payment possible on the average teacher's salary. So which cities are the most affordable for teachers? e study found that 39 percent of homes for sale were affordable for teachers in Pittsburgh, Pennsylvania, making it the top ranking city for teachers in terms of home affordability. is was despite the overall af- fordability of homes going down 12.4 percent since 2012. e median sale price of homes in this city were $164,000, and teachers could afford homes priced at around $210,000 in Pittsburgh. Detroit, Michigan, earned the second spot on this list with a median sale price for homes at $127,000 and teachers being able to afford homes valued at an average of $237,000 in the Motor City. Average teacher salaries in Detroit were $68,500 and 35.4 percent of all homes were affordable for educators in this city. Coming in third was Cleveland, Ohio, where 33.4 percent homes were affordable for teachers who earned an average salary of $62,000. e median sale price for homes in the city was $127,000, while the maximum home price that teachers could afford here was pegged at $210,000. However, home affordability in both Detroit and Cleveland has seen a steep decline A ruling from the United States Department of Veterans Affairs (VA) has reclassified "site condominiums" as single-family homes, clearing the way for military veterans in the State of Michigan to have full access to affordable financing on all types of homes they seek to purchase. The VA ruling comes as a result of efforts made by Congressman Jack Bergman (R-Michigan) and the Home Builders Association of Michigan. KNOW THIS