HUD: Secretary Carson Announces New Foster Youth Housing Vouchers for Nine States
23 Vouchers Awarded to 9 States U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced nearly $200,000 in the most recent round of grants for HUD’s Foster Youth to Independence (FYI) Initiative. Nine housing authorities will receive this funding continuing HUD’s efforts to assist young adults transitioning out of foster care….
FHFA: House Price Index Up 0.2 Percent in April; Up 5.5 Percent from Last Year
U.S. house prices rose in April, up 0.2 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 5.5 percent from April 2019 to April 2020. The previously reported 0.1 percent increase for March 2020 remains unchanged. For the nine census divisions, seasonally adjusted monthly house price changes from March 2020 to April…
CFPB: FFIEC Announces Availability of 2019 HMDA Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2019 mortgage lending transactions at 5,508 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data are the most comprehensive publicly available information on mortgage market…
HUD and Census Bureau: New Residental Sales Report for May 2020
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 May 2020: New Home Sales Sales of new single-family houses in May 2020 were at a seasonally adjusted annual rate of 676,000. This is 16.6 percent (±15.5 percent)* above the revised April…
FHFA: First Quarter Foreclosure Prevention and Refinance Report Released for the Enterprises
The Federal Housing Finance Agency (FHFA) today released its first quarter 2020 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 26,910 foreclosure prevention actions in the first quarter of 2020, bringing to 4.4 million the number of troubled homeowners who have been helped during conservatorships. Of…
Regulatory Agencies Issue Examiner Guidance for Assessing Safety and Soundness Effect of COVID-19 Pandemic
The four federal agencies in conjunction with the state bank and credit union regulators today issued examiner guidance to promote consistency and flexibility in the supervision and examination of financial institutions affected by the COVID-19 pandemic. No action on the part of supervised institutions is required. Stresses caused by the spread of COVID-19 have led…
CFPB: Interpretive Rule Issued on Method for Determining Underserved Areas
The Consumer Financial Protection Bureau (Bureau) today issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year. The Bureau’s annual list of rural and underserved counties and areas is…
CFPB: Interim Final Rule Issued on Loss Mitigation Options for Homeowners Recovering from Pandemic-Related Financial Hardships
The Consumer Financial Protection Bureau (Bureau) issued today an interim final rule (IFR) that will make it easier for consumers to transition out of financial hardship caused by the COVID-19 pandemic and easier for mortgage servicers to assist those consumers. The CARES Act provides forbearance relief for consumers with federally-backed mortgage loans. The mortgage industry…
Census Bureau: New Data on Community Resilience Released
The U.S. Census Bureau today released the Community Resilience Estimates on <www.census.gov> to measure the ability of a population to absorb, endure and recover from the impacts of disasters, including weather-related and disease-related hazard events such as COVID-19. The new experimental data product will be available through a tool which shows risk level by state, county and tract. These…
FDIC: Final Rule Issued to Mitigate the Deposit Insurance Assessment Effect of Participation in the PPP, the PPP Liquidity Facility, and the Money Market Mutual Fund Liquidity Facility
The Federal Deposit Insurance Corporation (FDIC) today approved a final rule that mitigates the deposit insurance assessment effects of participating in the Paycheck Protection Program (PPP) established by the U.S. Small Business Administration and the Paycheck Protection Program Liquidity Facility (PPPLF) and Money Market Mutual Fund Liquidity Facility (MMLF) established by the Board of Governors…