HUD: $24 Million Awarded to Help Children in Foster Care
Today, the U.S. Department of Housing and Urban Development (HUD) awarded $24.4 million to public housing authorities nationwide through the Family Unification Program (FUP). This funding will make more than 1,900 vouchers available for families who are unable to secure affordable housing for their children or dependents, and former foster youth at risk of homelessness. Housing…
EDA: $6.7 Million Invested to Expand Technology Park in San Luis Obispo, CA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $6.7 million grant to the Cal Poly Corporation, in San Luis Obispo, California, to construct a facility to expand the Cal Poly Technology Park. The EDA grant, to be matched with more than $4 million in local…
CFPB: Credit Reporting Guidance During COVID-19 Pandemic Issued
The Consumer Financial Protection Bureau (Bureau) today released a policy statement outlining the responsibility of credit reporting companies and furnishers during the COVID-19 pandemic. In response to the pandemic, many lenders are being flexible when it comes to consumers’ making payments. The Bureau’s statement underscores that consumers benefit if lenders report accurate information about these…
FEMA: President Trump Approves Major Disaster Declaration for Hawaii
FEMA announced that federal emergency aid has been made available for the state of Hawaii to supplement state and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing. Public Assistance Federal funding is available to the state and eligible local governments and certain…
FEMA: President Trump Approves Major Disaster Declaration for North Dakota
FEMA announced that federal emergency aid has been made available for the state of North Dakota to supplement state, tribal and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing. Public Assistance Federal funding is available to the state, tribal and eligible local…
FEMA: President Trump Approves Major Disaster Declaration for Montana
FEMA announced that federal emergency aid has been made available for the state of Montana to supplement state, tribal and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing. Public Assistance Federal funding is available to the state, tribal and eligible local governments…
SBA: Public-Private Mobilization Effort to Distribution $349 Billion in Emergency Small Business Capital Begins
Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need. The CARES Act establishes a…
FHFA: Loan Processing Flexibilities Authorized for Fannie Mae and Freddie Mac Customers
The Federal Housing Finance Agency (FHFA) today announced several loan processing flexibilities from Fannie Mae and Freddie Mac (The Enterprises) designed to help their customers. The flexibilities announced by the Enterprises include: Allowing desktop appraisals on new construction loans; Allowing flexibility on demonstrating construction has been completed (alternative to the Completion Report); Allowing flexibility for…
FHFA: Comment Period Extended on Proposed Minimum Financial Eligibility Requirements for Seller/Services
The Federal Housing Finance Agency (FHFA) today announced a 30-day extension to the comment period for the proposed update to the minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers. FHFA released the proposed update to the minimum financial requirements in January to further strengthen the Enterprises’ Seller/Servicer requirements and provide transparency and…