FHFA: U.S. House Prices Up 5.4 Percent from Last Year; Rise 0.8 Percent in Second Quarter Despite COVID
U.S. house prices rose 5.4 percent from the second quarter of 2019 to the second quarter of 2020 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices were up 0.8 percent in the second quarter of 2019. FHFA’s seasonally adjusted monthly index for June was up 0.9 percent from May. “Home prices grew by 5.4 percent in the…
FHFA: $6 Billion in COVID Losses Projected at Fannie Mae and Freddie Mac
Low-Balance Refinances now Exempt; Adverse Market Refinance Fee Implementation now December 1 The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac (the Enterprises) to delay the implementation date of their Adverse Market Refinance Fee until December 1, 2020. The fee was previously scheduled to take effect September 1, 2020. FHFA is…
FDIC: Insured Institutions Reported Lower Profitability but Strong Liquidity and Higher Capital Levels in Second Quarter 2020
Aggregate Quarterly Net Income Declined Due to Continued Economic Uncertainty Net Interest Margin Compressed at Record Rate Deposits Expanded by More Than $1 Trillion for Second Consecutive Quarter Deposit Insurance Fund Increased to Record $114.7 Billion, while Reserve Ratio Falls to 1.30 Percent Due to Inflow of Deposits Community Banks Registered a 3.2 Percent Increase…
CFPB: Information Requested on the Impact of CARD Act Regulations on Small Entities and the Consumer Credit Card Market
The Consumer Financial Protection Bureau (Bureau) issued today a request for information (RFI) to examine the impact of the rules that implement the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act Rules). The Bureau is required under Section 610 of the Regulatory Flexibility Act to review certain rules within 10 years of…
FEMA: President Trump Approves Emergency Disaster Declaration for Mississippi
FEMA announced that federal emergency aid has been made available to the state of Mississippito supplementstate, local and tribal response efforts to the emergency conditions in the area affected by Tropical Storms Marco and Laura beginning on Aug. 23, 2020 and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts which have the purpose of alleviating the hardship and suffering caused…
FEMA: President Trump Approves Texas Emergency Declaration
FEMA announced that federal emergency aid has been made available to the state of Texas to supplement state and local response efforts to the emergency conditions in the area affected by Tropical Storms Marco and Laura, beginning Aug. 23, 2020, and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts which have the purpose of alleviating the hardship and suffering caused by…
FEMA: President Trump Approves Emergency Disaster Declaration for Louisiana
FEMA announced that federal emergency aid has been made available to the state of Louisianato supplementstate, local, tribal and territorial response efforts to the emergency conditions in the area affected by Tropical Storm Laura and Hurricane Marco beginning on Aug. 22, 2020 and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts which have the purpose of alleviating the hardship and suffering caused…
FEMA: President Trump Approves Emergency Declaration for Commonwealth of Puerto Rico
FEMA announced that federal emergency aid has been made available to the Commonwealth of Puerto Ricoto supplementcommonwealth and local response efforts to emergency conditions in the area affected by Tropical Storm Laura beginning Aug. 21, 2020 and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts in alleviating the hardship and suffering caused by the emergency on the local population and provide…
FEMA: President Trump Approves Major Disaster Declaration for California
FEMA announced that federal disaster assistance has been made available to the state of California to supplement state, tribal, and local recovery efforts in the areas affected by wildfires from Aug. 14 and continuing. The President’s action makes federal funding available to affected individuals in Lake, Napa, San Mateo, Santa Cruz, Solano, Sonoma and Yolo counties. Assistance can include grants for temporary housing…
EDA: Over $54 Million in CARES Act Funding Invested to Support Recovery from Coronavirus Pandemic
The U.S. Department of Commerce’s Economic Development (EDA) administration has awarded over $10 Million in CARES Act Funding to support economic development and economic recovery in response to the coronavirus pandemic. Investments include: August 21, 2020 – U.S. Department of Commerce Invests $17.8 Million in CARES Act Funding to Capitalize Revolving Loan Funds to Help Small…