does not permit certified, i'm sorry license, thank you fha does not permit the license so many want to automatically engage the certified. so there's a potential regulatory barrier? thank you. okay. mr. williamson goingng to ask yu first. rather the question is open to anyone. we have talked a little bit about what changes we think are necessary. if you are to think outside the box and come up with something truly innovative and radical that would prevent appraisal bias, what would that be? >> a good question and i think the answer have to start with data. you can only answer that question after there's the uniform appraisal dataset with long level data because then we can really understand the market without access to that data we can't fully answer that question. think unit did want to give kudos to mr. montford that you were considering practicum's and you are exploring other options so appreciate that.an anyone else? >> i did want to mention it was mentioned earlier we are looking at the marketing strategy of going to the high school level and reaching out education went to expa

this is out of what's called the fha partial supplemental slush fund apparently.ou think of this? >> it doesn't make sense, elizabeth, you're so right. what they do is make people with good credit scores pay more and people with bad credit scores pay less, so that encourages people to get bad credit core scores. i don't think they understand any logic in all of this but there is no logic. what you want to do is get the people with low credit scores to have higher credit scores, by having good jobs, output employment production. that's the way to get the system right. not by subsidizing people who have low credit scores and taxing people with good ones. it's just the wrong, wrong, wrong set of incentives and incentives matter. that's what economics is all about. liz: then the fha, with this new slush fund program with money on the side that can help people when interest rates go up with their mortgage payments. that's what this new bailout plan would do, and it basically also would it looks like it would, you know, keep the mortgage payments low for delinquent borr

our fha down. payments are capped less than 3 and a half percent. but for those looking to the pictures, not so rosy. >> first, is that because the kind of popped up, it means that sellers that previously had a low interest rate really don't have that much incentive to so their property and get into a larger property or change their interest rates. so that's part of the problem. >> home values in san francisco are down 9% from where they were a year ago in san jose. they're down 8%. >> still ahead, people at stinson beach. lot of them say of a sudden they're worried about their health after we tell them what's been in the tell them what's been in the water. what do we always say, son? liberty mutual customizes your car insurance... so you only pay for what you need. that's my boy. ♪ stay off the freeways! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ only pay for what you need. after my car accident, i wondered what my case was worth. so i called the barnes firm. i'm rich barnes. is your accident case worth more than insurance

a far higher percentage of fha borrowers are people of color that through any other channel especially black households. it is absolutely critical both to our service to the community and to the safety and soundness of our mutual mortgage insurance fund appraisal fairly and accurately reflect home value. so we know all the approaches to appraisal not just the sales comparison approach. all of the recognized value approaches rests on a foundatio of market value developed over years of discrimination and patterns of segregation. that's why we know eradicating bias there is not one quick and easy fix here. we know it is going to take a comprehensive approach across all parts of the appraisal and mortgage industry. that's why what we're doing here is so important. it is also critical for our worker to have an ample supply of appraisers in allll geographs at all times. i think what we are doing here today is really focusing in on the role of who is doing the work. how are these standards that were created and governed that makes such a difference to how we move forward in this area. to be o

back then, we took a class called fha, future homemakers of america, whicwas a ho economs clas d i had my mother liked to sew, but in home economics that's where i really learned the mechics of sing, thworld ju opened for m it wasust my thing. the mechics of sing, i de my owclothes, short t, thworldight jazmusic]r m made sombridesma dressefor some friends and i even made my own prom dress. afr i got rried an we h our chiren, with my son i started making short sets for him. let me see your t-shirt, let me see your t-shirt. wow, whoade th nice t-shirt? - bui reallyanted-sto makdrn let me s- you.r t-shirt. when wead our daughteri startemaking back then it was called daisy kingdom. itas theseancy lite dress with pticoat and puff sleeves, and lace, and i just dressed her to the nines. finally, she asked me not to make the puffy sleeves anymore beuse it ihed hearm, then sheidn't li the colr becae it wasoo puf, thenhe didn' likehe petticoat, then sheidn't li the colr and en she ler just ked be she cou wear ans. oke my hrt, but realiz that iwas streing heout so stoppedaking the fancdresse bui

fha that requires down payments lower than 3 and a half percent and lower minimum credit scores reporting in san jose justin campbell kron. 4 news. top of the sales force tower is lighting a colorful work for pride month. >> it is titled hey, t so to 2. and as a 9 minute celebration of resilience in the lgbtq+ community, the artist behind the work is hoping to illustrate intersecting identities well as inspire. >> it's my first time sharing my are in this size. and so that's been really exciting to see my work. so large entity seen by so many people. my hope is that this will bring people a lot of joy and happiness and that folks will be able you know, maybe look up and be surprised. just want to invite people during specially privately can to connect with this, you know, art work that i've shared. graduated from uc berkeley. >> still ahead tonight at 10 and what is being found at bay area beaches that could make some swimmers sick. plus june teen being celebrated across the bay area. we're going to take a look at the history and why it's celebrated on june 19 january first, when presiden

fha demand, though, drove the increase for purchases it's favored generally by lower-income borrowers or first-time buyers, so at least it's a sign they're trying to stay in the game in contrast, demand for newly built holes much stronger. applications for mortgages to buy new homes jumped sharply in maid, up 17% year over year. that's why the builders are doing so well. stocks at 52-week highs. housing starts are a huge jump and we saul builders with big earnings week last week, and we'll have kb homes report after the bell today >> i almost asked larry and steve about this, but if the fed wanted to take the heat out of this part of the housing market, they should cut rates. that would increase inventory, lower prices, so on. >> by cutting rates, because the builders could build houses lower? >> no, people would put their homes on the market. they're frozen into place. >> but remember, mortgage rates do not follow strictly what the fed is doing they follow what the fed thinking about the broader economy. it also has a lot to do with mbs, mortgage-backed bonds, so it's not a direct co

fha that requires down payments lower than 3 and a half percent and lower minimum credit scores reporting in san jose justin campbell kron. 4 news. >> also for your money tonight, the failed silicon valley as phoebe still has customers in asia. we're on the hook for loans even after they lost their deposits, the fdic stepped in, of course, to protect us depositors money by selling as phoebe's branches account, an outstanding loans to for citizens spec. but the protection did not include the cayman islands branch, which held deposits from venture capital and private equity firms in asia. for citizens told some clients stay would give them more time now to repay the debt. today marks the second annual recognition of the juneteenth national holiday here in the u.s. juneteenth marks the day in 18 65 when the last enslaved people. >> here in the u.s. learned that they were free since then june 19th has been a they have celebration in the black community indeed. but now that day celebration is being observed by the entire country for the second time crunch force as he quit. you spoke to the oak

fha that requires down payments lower than 3 and a half percent and lower minimum credit scores reporting in san jose justin campbell kron. 4 news. >> the fed is pausing interest rate hikes and a sign inflation could be cooling down. but many shoppers aren't feeling the effects just yet. financial experts say prices are not necessarily decreasing. they just are increasing as much as before housing inflation, a key economic indicator still remains high. that's not stopping the white house from applauding the progress saying annual inflation is now at the lowest level since march 2021. federal reserve chairman jerome powell does warn there could be more interest rate hikes this year to bring inflation down to the 2% target. for your money. workers are starting to see their hours be reduced. companies hire more employees. labor department reporting the average number of weekly work hours for employees in the private sector fell to 34.3 in may, which is below a peak of 35 hours in january 2021. business experts say employers are more likely to cut work hours, then lay off employees knowing th

who generally use fha are still trying to stay in the game becky? below 6%? i guess i'm surprised -- >> not at all. >> yeah. >> it is high the number who have a mortgage rate below 4%. it goes even further than that that's why nobody wants to sell their house now. nobody is putting their house on the market because they don't want to trade perhaps a 3% mortgage rate for 6% or 7%. >> that's what happens when the fed raises 500 basis points so quickly like that, sticker shock sets in. diana, thank you. >>> still to come, chinese spies are targeting corporate america. an inside look at the response from capitol hill. and then is social media harming children an industry expert weighs in on the surgeon general's extraordinary warning to lawmakers. first, though, tenth anniversary of google's acquisition of waze, we'll talk to the waze founder uri levine about the evolution of ai. that's straight ahead. "squawk box" will be right back. how's the chicken? the prawns are delicious. oh, i have a shellfish allergy. one prawn. very good. did i say chicken wro