FHFA: Fourth Quarter 2022 Foreclosure Prevention and Refinance Report Released
More than 6.7 million troubled homeowners helped during conservatorships The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2022 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 52,469 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped…
EDA: $1.3 Million Invested to Boost Aerospace Sector in Greenville, TX
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the city of Greenville, Texas, to make roadway improvements needed to expand the region’s critical aerospace sector. This project will construct a new roadway alignment for the existing Majors Road at Greenville Municipal Airport…
FHFA: Public Engagement Process Announced for Implementation of Updated Credit Score Requirements
Enterprises to conduct stakeholder outreach and gather feedback The Federal Housing Finance Agency (FHFA) today announced plans for stakeholder input on proposed milestones as Fannie Mae and Freddie Mac (the Enterprises) work to replace the Classic FICO credit score model with the FICO 10T and the VantageScore 4.0 credit score models, and transition from requiring…
ABA: New Report Shows Farm Bank Lending Increased in 2022
Banks reported holding over 1.1 million small farm loans worth $69 billion. Despite headwinds in 2022 due to supply chain disruptions, shocks to supply and demand, volatility in commodity prices, and geopolitical uncertainty, agricultural lending by U.S. farm banks increased 8.1% in 2022 to $103.1 billion, according to the American Bankers Association’s annual Farm Bank Performance…
CDFI Fund: Update Provided on the Implementation of the 2016-2020 American Community Survey Datasets
In June 2022, the Community Development Financial Institutions Fund (CDFI Fund) announced a plan for releasing updated program eligibility information based upon Census Bureau data from the American Community Survey (ACS) 2016-2020 5-year data series. Eligibility requirements for the Bank Enterprise Award Program (BEA Program), Capital Magnet Fund (CMF), Community Development Financial Institutions Program (CDFI Program), Native…
FEMA: President Biden Approves Major Disaster Declaration for Vermont
FEMA announced that federal disaster assistance has been made available to the state of Vermont to supplement state and local recovery efforts in the areas affected by a severe storm and flooding on Dec. 22-24, 2022. Public Assistance federal funding is available to the state and eligible local governments and certain private nonprofit organizations on…
HUD: $54 Million Awarded to 182 Grantees in 42 States to Fight Housing Discrimination
Ahead of anniversary of PAVE Action Plan, some grants empower organizations to test for appraisal bias and educate local communities The U.S. Department of Housing and Urban Development (HUD) today awarded $54 million to 182 fair housing organizations across the country under its Fair Housing Initiatives Program (FHIP). The grants will provide $28,200,000 to support the…
CFPB: Tool Enhanced to Promote Competition and Comparison Shopping in Credit Card Market
Price transparency will help families find better credit card deals in a time of rising interest rates Today, the Consumer Financial Protection Bureau (CFPB) launched an improved survey of credit card issuers that can help consumers and families compare interest rates and other features when shopping for a new credit card. Americans pay $120 billion…
FDIC: Bid Window Extended for Silicon Valley Bridge Bank, N.A.
Agency Will Continue to Operate the Bridge Bank while Exploring Strategic Options The Federal Deposit Insurance Corporation (FDIC) has extended the bidding process for Silicon Valley Bridge Bank, National Association, Santa Clara, California. There has been substantial interest from multiple parties, and the FDIC and the bidders need more time to explore all options in…
HUD: New High-Speed Internet Guide Highlights Unprecedented Funding to Support Underserved Communities
Today, the U.S. Department of Housing and Urban Development announced a new guidebook for states and organizations to consider when deploying high-speed Internet service projects. The guide will help Public Housing Authorities, Multifamily Owners and Operators, and Tribes understand the mechanics of these two programs and the role they can play in ensuring that funds come to…