Written by Chase Majerus
Welcome to This Week Today, your fast (and fun) newsletter for what’s happening in housing, real estate, and finance. This week, we’re covering major changes to FHA loan eligibility, the shutdown of key down payment programs, and the rise of wildfire-resilient homes in California. Plus, a look at Mark Wahlberg’s mega-mansion comeback and a spotlight on one former MLS star turned mortgage pro. Let’s get into it.
A home equity line of credit, or HELOC, lets you borrow against your home’s available equity. Applying for a HELOC with Synergy One Lending is fast and easy. Our application is fast, easy, and all online. If pre-approved, you’ll be instantly presented with your offer options.
Heads up, and it’s a doozy: Starting May 25, 2025, non-permanent U.S. residents will no longer qualify for home loans backed by the Federal Housing Administration (FHA).
The new rule, announced by the U.S. Department of Housing and Urban Development (HUD), applies to all FHA single-family forward mortgages and Home Equity Conversion Mortgage (HECM) programs.
According to the current administration, the change is meant to ensure that federal benefits like FHA financing are reserved for those with long-term legal residency. HUD says the concern is that temporary residency status could change, which might impact someone’s ability to stay employed or remain in the country, and that affects their ability to repay a mortgage.
Moving forward, lenders must confirm a borrower’s immigration status with more than just a Social Security card. U.S. citizens, lawful permanent residents, and citizens of a few Pacific island nations are still eligible (as long as they meet the usual FHA requirements).
If someone who doesn’t have permanent residency is trying to use FHA financing, they’ll need to be under contract and have a case number by May 24 or they’ll be out of luck.
The 90210 palace Mark Wahlberg once called home is back, and it’s looking for a buyer with deep pockets. Less than two years after Mark Wahlberg sold it, his custom-built mega-mansion is back with a $13 million markup.
Will it sell for $68 million? That’s a Hollywood cliffhanger we’ll have to wait and see. –
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This week, in another huge announcement, the Federal Housing Finance Agency (FHFA) announced it is shutting down programs that helped first-time homebuyers with down payments and closing costs.
These Special Purpose Credit Programs (SPCPs) were backed by government-sponsored enterprises Fannie Mae and Freddie Mac, and were created under the Equal Credit Opportunity Act to help underserved and disadvantaged borrowers. The programs offered perks like lower credit score requirements and special loan pricing to make homeownership more accessible. But newly appointed FHFA Director Bill Pulte signed a directive to end them, saying this level of support is not appropriate for agencies still under government conservatorship.
Pulte also waived some rules tied to “equitable housing finance planning and reporting,” which previously required transparency and annual progress reports on housing equity.
Critics say this move reflects a broader rollback of diversity and inclusion efforts in housing and finance. Industry groups like the Mortgage Bankers Association (MBA) have supported SPCPs in the past as a way to expand access to credit for those who need it most.
If You Build Fire-Resilient Neighborhoods… They Will Come!
In a first for a major builder, KB Home is rolling out a wildfire-resilient community in Escondido, California, with 64 homes built to strict standards from the Insurance Institute for Business & Home Safety (IBHS).
These homes are designed to stand up to embers, flames, and radiant heat with features like stucco siding, tempered glass windows, metal fencing, and fire-safe landscaping. KB Home pivoted mid-project to include these protections after seeing a live fire demo, and local officials helped fast-track approvals.
Prices start around $1 million, but the builder says it’s working to make this model more affordable for first-time and move-up buyers. With insurance companies leaving fire-prone areas, these homes offer a safer, more insurable option.
Experts say this could spark a trend, as KB Home is already planning more fire-resilient projects. As one expert put it: “Nothing is ever fireproof, but this is a big step in the right direction.
Written by: Alan Gordon, Loan Officer | NMLS #1837300
What did life look like before you got here? Before I embarked on my journey in the mortgage business and joined Synergy One Lending, my life was vastly different. My world revolved around sports, specifically soccer. As a player in the men’s soccer program at Oregon State, I dedicated every ounce of my being to reaching the professional ranks. This dedication paid off, as I spent 15 years playing in Major League Soccer (MLS) and had the honor of representing the US Men’s National Team on several occasions. During this time, I also experienced the joy of getting married and raising three beautiful children.
What made you take the leap? As a professional athlete, it’s easy to overlook the reality that there will be life after sports—a life for which you may not be fully prepared. The question of “What will you do next?” looms large. As I searched for my next challenge, I was drawn to the mortgage business for several reasons. I was intrigued by the “sky’s the limit” and “eat what you kill” mentality that defines this sales profession. I appreciated that success in this field depended on selling myself, a challenge I was ready to embrace. By providing a valuable service, working hard, being available to my referral partners, and maintaining likability, I knew I could thrive.
Why has this been the right move? From my time in professional sports, I understood the importance of having a trusted mentor and the right coaching to reach my desired level of success. I found that mentorship in Eric Kulbe, but little did I know that Synergy One Lending would offer so much more. From the top down, Synergy has provided the support and leadership I craved. Over the past six years, Synergy has consistently impressed me with its growth and innovation, keeping us ahead of the competition.
Your approach to success as an LO: My approach to success as a Loan Officer (LO) is to be a sponge. Synergy One Lending is home to many exceptional LOs who are eager to share their tips and tricks for becoming a top-tier LO in this industry. However, the key to my success has been consistency—performing the simple, mundane tasks of prospecting, staying in front of my referral partners, and demonstrating value. This approach has been instrumental in my journey, and I am grateful for the opportunities and growth I’ve experienced at Synergy One Lending.
Thank you for reading! We hope you have a wonderful day! See you next week!
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