EDA: $27 Million Invested to Expand and Improve Airports in the U.S. Virgin Islands
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $27 million in grants to the Virgin Islands Port Authority of St. Thomas, U.S.V.I., to expand and improve two major airports in the wake of Hurricanes Irma and Maria. According to grantee estimates, the projects are expected to…
FEMA: President Trump Approves Major Disaster Declaration for Alabama
The Federal Emergency Management Agency announced today that federal disaster assistance has been made available to the state of Alabama to supplement state and local recovery efforts in the areas affected by severe storms, straight-line winds, and tornadoes on March 3, 2019. The President’s action makes federal funding available to affected individuals in Lee County….
CFPB: This Tax Season, Protect Yourself from IRS Imposter Scams
An IRS imposter scam is when someone contacts you pretending to be from the Internal Revenue Service (IRS). They falsely say that you owe taxes and must pay them immediately or face serious penalties. Maybe you receive a call from someone claiming to be an auditor and orders you to pay money immediately for a…
FEMA: President Trump Approves Major Disaster Declaration for Washington
FEMA announced today that federal disaster assistance has been made available to the state of Washington to supplement state, tribal and local recovery efforts in the areas affected by severe winter storms, straight-line winds, flooding, landslides, mudslides, and a tornado Dec. 10-Dec. 24, 2018. Federal funding is available to the state, tribal and eligible local…
FDIC: New Resources Unveiled for Consumers During National Consumer Protection Week 2019
In observance of National Consumer Protection Week (NCPW), March 3–9, the Federal Deposit Insurance Corporation (FDIC) today unveiled new resources to help consumers understand their rights and make well-informed decisions about money. The FDIC has added a new, online Information and Support Center to the agency’s existing educational resources. Consumers can use the Center to…
CFPB: Report Released on First-Time Homebuying Servicemembers
Today the Consumer Financial Protection Bureau (CFPB) released a report focusing on mortgages made to first-time homebuyers who are serving in the armed forces or are veterans. The Bureau’s report is the first time researchers have been able to provide a description and analysis of servicemembers’ mortgage choices and mortgage performance, both during and after…
FHFA: Index Shows Mortgage Rates Decreased in January 2019
Nationally, interest rates on conventional purchase-money mortgages decreased from December to January, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.60 percent for loans closed in late January, down 23 basis points from 4.83 percent in December. The average interest…
FHFA: Final Rule Issued on Uniform Mortgage-Backed Security
The Federal Housing Finance Agency (FHFA) has issued a final rule that requires Fannie Mae and Freddie Mac (the Enterprises) to align programs, policies, and practices that affect the cash flows of “To-Be-Announced” (TBA)-eligible Mortgage-Backed Securities (MBS). The issuance of the final rule is a major step forward, significantly improving the predictability of cash flows…