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65 June 2025 J O U R N A L June 2025 » will save an estimated $3.3 billion according to the Budget Request. • HOME Investment Partnerships Program: The Budget seeks to elimi- nate the HOME program, a formula grant that provides state and local governments with funding to ex- pand the supply of housing. Cutting the HOME program will save an estimated $1.25 billion annually. • Native American Programs and Na- tive Hawaiian Housing Block Grant: The FY 2026 Budget streamlines housing assistance for Native Amer- ican programs and focuses available resources on the main formula grant to Tribes. Consistent with similar FY Budget proposals eliminating housing programs, the Native Ha- waiian Housing Block Grant would be eliminated, saving approximately $480 million annually. • Homeless Assistance Program Consolidations: The FY 2026 Budget consolidates the Continuum of Care and Housing Opportunities for Persons with AIDS programs into a more targeted Emergency Solutions Grant (ESG) program that provides short- and medium-term housing assistance, capped at two years, to homeless and at-risk individuals. Approximately $532 million would be saved by consolidating these homeless assistance programs. • Surplus Lead Hazard Reduction and Healthy Homes Funding: This set of programs has unobligated balanc- es that should be depleted prior to receiving further appropriations and would save approximately $296 mil- lion annually if cuts are approved. • HUD Self-Sufficiency Programs: HUD's "Self-Sufficiency Programs" were designed to promote self-suf- ficiency among housing assistance recipients. Cutting these programs would save $196 million annually. • Pathways to Removing Obstacles (PRO) Housing: Consistent with Executive Order 14151, "Ending Rad- ical and Wasteful Government DEI Programs and Preferencing," the FY 2026 Budget proposes to eliminate PRO Housing, which was used by the Biden administration to advance equity through affordable housing development programs. Cutting PRO Housing from the FY 2026 Budget would save approximately $100 million annually. • Fair Housing Grants: The Budget looks to save $60 million annually through the elimination of the Fair Housing Initiatives Program (FHIP), which provides competitive grants to public and private fair housing organizations to advocate against single-family neighborhoods and promote radical equity policies. The Budget also seeks to eliminate the National Fair Housing Training Acad- emy, which provides training for Fair Housing Assistance Program (FHAP) and FHIP professionals as well as funding to translate HUD materials to languages other than English. "President Trump's bold budget pro- poses a reimagining of how the federal government addresses affordable hous- ing and community development," said HUD Secretary Scott Turner of the FY 2026 Discretionary Budget. "It rightfully provides states and localities greater flex- ibility while thoughtfully consolidating, streamlining, and simplifying existing programs to serve the American people at the highest standard. It creates the opportunity for greater partnership and collaboration across levels of government by requiring states and localities to have skin in the game and carefully consider how their policies hinder or advance goals of self-sufficiency and economic prosperity. Importantly, it furthers our mission-minded approach at HUD of taking inventory of our programs and processes to address the size and scope of the federal government, which has become too bloated and bureaucratic to efficiently function. I look forward to continuing budgetary conversations in the months ahead as we get our fiscal house in order and maximize HUD's budget for the rural, tribal, and urban communities we are called to serve." YOUR TRUSTED SOURCE FOR MORTGAGE BANK ING AND SERVICING NEWS DECEMBER 2024 Magazine PRESERVING the AMERICAN DREAM Industry experts from Five Star's PROPERTY PRESERVATION EXECUTIVE FORUM discuss the trends and challenges facing the field services sector as we head into the new year. ALSO IN THIS ISSUE EXPERT INSIGHTS ASSESSING TODAY'S LANDSCAPE Derrick Barker, Co-Founder & CEO of Nectar, discusses his beginnings in the mortgage market CONTRIBUTED SPOTLIGHT: LEGAL LEAGUE IN PENNSYLVANIA, IS THERE A RIGHT TO JURY TRIAL IN IN REM FORECLOSURE ACTIONS? THE NATIONAL PROPERTY PRESERVATION CONFERENCE CELEBRATES TWO DECADES OF INDUSTRY ACTION REIMAGINING CREDIT AND VERIFICATION WORKFLOWS Subscribe to MortgagePoint and MortgagePoint Digital now! Visit themortgagepoint.com/mp-access to take advantage of our special offer! Experts you trust. People you know. News you want. MortgagePoint is putting essential mortgage market news at your fingertips with our new digital edition, now available online via your smartphone, tablet, or computer. Enjoy the magazine at your desk, and tap into MortgagePoint Digital's easily accessible platform anywhere, anytime. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MortgagePoint believes it's time to think differently about the mortgage industry. Because the American Dream is evolving . . . are you? YOUR TRUSTED SOURCE FOR MORTGAGE BANK ING AND SERVICING NEWS FEBRUARY 2025 Magazine In This Issue: THE RISE OF MULTI- GENERATIONAL HOUSING: LENDING TRENDS AND OPPORTUNITY EXPERT INSIGHTS MICHAEL GEVURTZ CEO AND FOUNDER OF BLUEBIRD LENDING CHANGES TO CALIFORNIA'S HOME OWNER BILL OF RIGHTS TAKE ADVANTAGE OF A SLOW MARKET TO SHORE UP PROCESSES With rates starting to drop, savvy lenders are moving to get ahead of the game before a rebound. SPECIAL SECTION WHITE HOUSE NOMINEES A look at President Trump's picks for his cabinet and other high-level positions that are sure to shake up the industry. Once the Smoke Clears MortgagePoint examines how the CALIFORNIA WILDFIRES could have wide-ranging impacts on government programs, insurance coverage, and the housing market. YOUR TRUSTED SOURCE FOR MORTGAGE BANK ING AND SERVICING NEWS JANUARY 2025 Magazine ECONOMIC FORECAST 2025 MortgagePoint surveys a panel of economists and industry experts about where the housing market and mortgage industry will be headed in a new year and under a new incoming president.