Housing leader calls for ‘codeathon’

Housing Secretary Julian Castro announced Tuesday he’s planning a “codeathon” with the White House to improve the housing system.

Castro said the Department of Housing and Urban Development and White House event would bring in data experts and programmers” to provide information to lenders that could aid homebuyers.

{mosads}For example, Castro suggested the programmers could show how a family might be more likely to be able to afford a mortgage if they were purchasing a home in an area where transportation costs are low. 

He suggested that banks considering such information could be more likely to provide affordable loans to prospective buyers. 

“Let’s say they can easily determine a family wants to buy in an area where transportation costs are low,” said Castro, the former mayor of San Antonio. “Lenders may consider these savings as they make their decisions about the quality of the loan — and that can help get credit moving.”

Castro also announced that HUD is giving $75 million to nearly 759 Public Housing Authorities to help lower-income Americans with education and job opportunities.

“To complement this work, over the next two-and-a-half years, I’m going to place a special focus on expanding broadband access,” said Castro, who is widely considered a rising star within the Democratic Party.  “The time has come for our nation to finally close the digital divide so that every child has the chance to succeed in the 21st century global economy.”