SBA: Election of New Chair and Vice-Chair on the Small Business Development Center Advisory Board Announced
SBA welcomes Bertica Cabrera Morris as Board Chair and Lea Marquez Peterson as Vice-Chair on the SBDC Advisory Board. The U.S. Small Business Administration is pleased to welcome the new Chair and Vice-Chair to the National Small Business Development Center (SBDC) Advisory Board. Bertica Cabrera Morris will serve as Board Chair, and Lea Marquez Peterson will serve…
SBA: Small Business Size Standard Revisions Proposed in Three Industrial Sectors
Public Comments Due January 12; Change Targeted at Increasing Eligiblity for Contracting and Loan Programs The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in three North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA’s loan and contracting…
FHFA: FY 2020 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its annual Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2020. For the twelfth consecutive year, FHFA received an unmodified audit opinion on its…
CDFI Fund: Upcoming Webinar Scheduled on Preparing for the FY 2021 CDFI and NACA Program Application Round
It’s never too early to start getting ready for the next application round! The Community Development Financial Institutions Fund (CDFI Fund) is tentatively planning to open the fiscal year (FY) 2021 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) application round in early 2021. To help your organization…
ABA: Foundation Seeking Banks to Host 11th Annual “Lights, Camera, Save!” Teen Video Contest
The American Bankers Association Foundation is urging banks across the country to participate in its upcoming Lights, Camera, Save! video competition that runs from February 1, 2021 to March 1, 2021. Lights, Camera, Save! is a national contest that encourages teens to use video to communicate the value of sound money management. The competition is one of…
HUD: FHA Publishes Annual Report to Congress on the Single Family Mutual Mortgage Insurance Fund
Report shows a moderate gain in the MMI Fund’s capital ratio and successful continuation of FHA’s core mission focus in fiscal year 2020 The Federal Housing Administration (FHA) today released its fiscal year (FY) 2020 annual report covering the financial status of the Mutual Mortgage Insurance (MMI) Fund and its Single Family insurance programs. In addition to…
FHFA: COVID-Related Loan Flexibilities Further Extended
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until December 31, 2020. The changes are to ensure continued support for bor rowers during the COVID-19 national emergency. The flexibilities were set to expire on November 30, 2020. Extended flexibilities include: Alternative appraisals…
FEMA: Medocino and Stanislaus Counties in California Added to August Wildfire Disaster Declaration
Mendocino and Stanislaus counties have been approved for federal assistance to individuals and households, as well as for repairs or rebuilding of community infrastructure, as part of the major wildfire disaster declaration approved Aug. 22. The deadline to register for assistance with FEMA under Disaster 4558 is Nov. 21. FEMA’s individual assistance program provides grants…
HUD: Manufactured Housing Safety and Affordability Strengthened with Revised Minimum Payments for State Oversight Programs
Final rule published today provides more equitable HUD funding for State Administrative Agencies The Department of Housing and Urban Development (HUD) published today a final rule in the Federal Register which provides a revised structure for the payments HUD makes to states participating as State Administrative Agencies in the manufactured housing program. State Administrative Agencies in 33 states are…
HUD: Rental Assistance Demonstration Generates More Than $10 Billion in Construction Activity to Preserve Affordable Housing
Today, the U.S. Department of Housing and Urban Development announced a major milestone for the Rental Assistance Demonstration (RAD) program, which has now facilitated more than $10 billion in capital investment since the program’s inception to improve or replace 140,000 public housing units – the majority of which house extremely low-income families, seniors, and persons…