CDFI Fund: $194 Million Awarded to Spur CDFI Investment in Distressed and Underserved Areas Across the Nation
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 252 Community Development Financial Institutions (CDFIs) $194.1 million in Financial Assistance (FA) awards today. The awards, through the fiscal year (FY) 2022 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program),…
HUD and Census Bureau: New Residential Sales Report Issued for January 2023
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for January 2023: New Home SalesSales of new single‐family houses in January 2023 were at a seasonally adjusted annual rate of 670,000, according to estimates released jointly today by the U.S. Census Bureau…
Federal Reserve: Four New Members of Community Advisory Council Announced
The Federal Reserve Board on Friday announced four new members of its Community Advisory Council (CAC). The CAC is composed of a diverse group of experts and representatives of consumer, workforce, and community development organizations and interests. CAC members provide information, advice, and recommendations to the Board on relevant policy matters and emerging issues of…
Agencies Issue 2022 Shared National Credit Program Review
The federal bank regulatory agencies today reported in the 2022 Shared National Credit (SNC) report that credit quality associated with large syndicated bank loans improved in 2022, but noted the results do not fully reflect increasing interest rates and softening economic conditions that began to impact borrowers in the second half of 2022. Overall, the…
HUD: $12.9 Million Awarded to Prevent Homelessness Among Youth Transitioning Out of Foster Care
16 Public Housing Agencies in 9 States will use funding to keep Foster Youth Housed In an effort to help youth in foster care find affordable housing, the U.S. Department of Housing and Urban Development (HUD) awarded $12.9 million to 16 Public Housing Agencies (PHAs) in 9 states to provide housing assistance to young adults…
FHFA: Notice of Proposed Rulemaking Issued Modifying Certain Provisions of the Enterprise Regulatory Capital Framework
Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comment on a notice of proposed rulemaking that would amend several provisions of the Enterprise Regulatory Capital Framework (ERCF) for Fannie Mae and Freddie Mac (the Enterprises). “As a safety and soundness regulator, FHFA monitors the housing finance market and evaluates the underlying…
EDA: U.S. Department of Commerce Seeks Public Input on New Recompete Pilot Program That Supercharges Communities with High Unemployment
The U.S. Department of Commerce’s Economic Development Administration (EDA) is seeking public input on its new Recompete Pilot Program that will make focused investments in distressed communities across the country, creating and connecting workers to good jobs and supporting long-term comprehensive economic development by helping to reduce the high, prime-age (25 to 54 years of age) employment…
Census Bureau: Household Pulse Survey Phase 3.7 Monthly Data Released
The U.S. Census Bureau today released new data from phase 3.7 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to provide near real-time data on how the COVID-19 pandemic, and changes in social and economic conditions are affecting people’s lives to inform federal and…
HUD: FHA Annual Mortgage Insurance Premium Deducations To Save Homebuyers an Average of $800 Annually on Mortgage Payments
30 basis point reduction in FHA annual mortgage insurance premium supports Biden-Harris Administration goals to make homeownership more affordable and accessible for working families. Today, the Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), announced a 30 basis point reduction to the annual mortgage insurance premiums (annual MIP) charged to homebuyers who…
FHFA: Public Comment Period Announced for Federal Home Loan Bank Members’ Community Support Performance
The Federal Housing Finance Agency (FHFA) today announced that the Agency will review all applicable Federal Home Loan Bank (FHLBank) members in 2023 under FHFA’s community support program (CSP) regulation. FHFA is issuing a Federal Register Notice inviting the public to comment on the community support performance of individual members of the FHLBanks. “The FHLBanks’…