CFPB: Comment Period Extended on Ways to Prevent Credit Discrimintation and Build a More Inclusive Financial System
The Consumer Financial Protection Bureau (Bureau) announced today that it will provide an additional 60 days for public comment on its Request for Information (RFI) on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit…
HUD: FHA Launches Technology Module for Single Family Appraisals
New electronic appraisal delivery technology uses cloud-based platform for forward mortgage appraisal submissions The Federal Housing Administration (FHA) today announced the upcoming release of its FHA Catalyst: Electronic Appraisal Delivery module on the FHA Catalyst platform. FHA Catalyst: Electronic Appraisal Delivery will allow lenders to electronically submit, track, and manage single family property appraisals. “Transforming FHA technology is the…
HUD and Census Bureau: Residential Construction Activity Report for July 2020 Issued
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for July 2020. Building Permits Privately owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,495,000. This is 18.8 percent (±1.1 percent) above the revised…
CFPB: New Category of Qualified Mortgages Proposed to Encourage Innovation and Access to Affrodable Mortgage Credit
The Consumer Financial Protection Bureau (Bureau) issued today a notice of proposed rulemaking (NPRM) to create a new category of seasoned qualified mortgages (Seasoned QMs) in order to encourage innovation and help ensure access to responsible, affordable in the mortgage credit market. To be considered a Seasoned QM under the proposal, loans would have to…
FEMA: President Trump Approves Major Disaster Declaration for Iowa
FEMA announced that federal disaster assistance has been made available to the state of Iowa to supplement state and local recovery efforts in the areas affected by severe storms on Aug. 10, 2020. Federal funding is available to the state, eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work…
FEMA: First States to Receive Lost Wages Grants Announced
On August 8, 2020, President Trump made available up to $44 billion from FEMA’s Disaster Relief Fund to provide financial assistance to Americans who have lost wages due to the COVID-19 pandemic. The states of Arizona, Iowa, Louisiana, and New Mexico are the first states to agree to administer a lost wages program for its…
EDA: $2.3 Million Invested to Establish Advanced Materials Innovation Center Near Rhode Island Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.3 million grant to the University of Rhode Island Research Foundation, Kingston, Rhode Island, to establish the “401 Tech Bridge” advanced materials innovation center at two sites: the University of Rhode Island in Kingston for direct university…
EDA: $3 Million Invested to Build Apprenticeship and Industrial Trades Center for Workforce Development in Klamath Falls, OR
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to Klamath Community College, Klamath Falls, Oregon, to build an on-campus Apprenticeship and Industrial Trades Center. The EDA grant, to be matched with $3.4 million in state funding, is expected to create 166 jobs…
EDA: Over $83 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 14, 2020 – U.S. Department of Commerce Invests $4 Million in CARES Act Funding to Boost Economic Development Programs Critical to Helping…
EDA: $1.5 Million Invested to Improve Critical Wastewater Infrastructure in Banks County, GA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to Banks County, Georgia, to make critical wastewater infrastructure improvements needed to support the region’s growing manufacturing base. The EDA grant, to be matched with $3 million in local funds, is expected to generate…