HUD: $2 Million in Funding Available to Small Communities through Main Street Program
Today, the US Department of Housing and Urban Development (HUD) announced a Notice of Funding Opportunity (NOFO) of $2 million through the HOPE VI Main Street Program. This grant program provides assistance to communities looking to create affordable housing in central business districts (Main Street areas) that are undergoing redevelopment. HUD is looking to target…
FDIC: Clarification of Supervisory Approach Issued Regarding Supervisory Guidance on Multiple Re-Presentment NSF Fees
The FDIC has updated its Supervisory Guidance on Multiple Re-Presentment NSF Fees (FIL-40-2022) to clarify its supervisory approach for corrective action when a violation of law is identified. Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions. Highlights: Since the issuance of the Supervisory Guidance on Multiple Re-Presentment NSF Fees…
CDFI Fund: Sources Sought Notice Issued for the CDFI Rapid Response Program, CDFI Equitable Recovery Program and Emergency Capital Investment Program
On June 15, 2023, the Community Development Financial Institutions Fund (CDFI Fund) released a Sources Sought Notice for a multi-year evaluation of the CDFI Fund’s CDFI Rapid Response Program (CDFI RRP), CDFI Equitable Recovery Program (CDFI ERP), and the U.S. Department of the Treasury’s (Treasury) Emergency Capital Investment Program (ECIP). Industry and subject-matter experts are…
ABA: Bank Economists Expect Credit Conditions to Soften in the Second Half of the Year
The latest summary of ABA’s Credit Conditions Index examines a suite of indices derived from the quarterly outlook for credit markets produced by ABA’s Economic Advisory Committee (EAC). The EAC includes chief economists from North America’s largest banks. Readings above 50 indicate that, on net, bank economists expect business and household credit conditions to improve, while readings…
HUD: Final Standards Issued to Align and Consolidate Inspection Requirements in Assisted and Insured Housing
Notice marks HUD’s first comprehensive overhaul of Inspection Standards in more than 20 years Today, the U.S. Department of Housing and Urban Development (HUD) announced the pending publication of the Final Inspection Standards Notice for the National Standards for the Physical Inspection of Real Estate (NSPIRE) in the Federal Register. The notice details inspectable items at HUD-assisted and Multifamily-insured…
FHFA: 2022 Report to Congress Issued
The Federal Housing Finance Agency (FHFA) today released its 2022 Report to Congress. The statutorily required report provides information about FHFA’s 2022 examinations of Fannie Mae, Freddie Mac (the Enterprises), Common Securitization Solutions (CSS), the 11 Federal Home Loan Banks (FHLBanks), and the FHLBanks’ Office of Finance. It also describes FHFA’s actions as conservator of the…
ABA: Foundation Joins FBI to Issue Guide for Banks to Prevent Elder Financial Exploitation
Guide offers tips and other information to help front-line bank staff detect and prevent elder financial exploitation In recognition of World Elder Abuse Awareness Day, the American Bankers Association Foundation and the Federal Bureau of Investigation today released a new guide with critically important tips and information to help bank employees detect and prevent elder financial…
HUD: FHA Launches New Resources to Remove Language Barriers for Borrowers
Multi-language translations of single family mortgage documents offer new resources for lenders and servicers when working with borrowers with limited English proficiency. Today, the Federal Housing Administration (FHA) is making available in Chinese, Korean, Spanish, Tagalog, and Vietnamese more than 30 single family mortgage documents and related resources used in the origination of FHA-insured mortgages….
EDA: $1 Million Invested to Support Aerospace Manufacturing Business Growth in Luling, TX
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to the city of Luling, Texas, to support business growth and job creation through infrastructure improvements at the city’s industrial park. This grant will provide roadway, water, and broadband improvements to support business expansion in…
ABA: Joanne Campbell and Jim Bedsole Receive ABA Distinguished Service Awards for Risk and Compliance
Joanne Campbell, executive vice president of enterprise risk management and chief risk officer for Camden National Bank in Camden, Maine, and Jim Bedsole, senior vice president and chief compliance and risk officer for BankSouth in Greensboro, Ga., today received the 2023 American Bankers Association’s Distinguished Service Award for Risk and the Distinguished Service Award for…