Census Bureau: New Experimental “Pulse” Surveys to Track Temporal Trends in Housing and Small Businesses During Pandemic
In response to the unprecedented circumstances presented by COVID-19 and the urgent need for data, the U.S. Census Bureau is launching two new experimental surveys to measure temporal social and economic trends in the nation’s small businesses and households over the next three months. Responses from these experimental surveys will be posted within weeks of collection…
FHFA: Service Liquidity Concerns Addressed; Four Month Advance Obligation Loan for Loans in Forbearance
Agency also clarifies that loans under forbearance will remain in MBS Pools Today, the Federal Housing Finance Agency (FHFA) announced the alignment of Fannie Mae’s and Freddie Mac’s (the Enterprises) policies regarding servicer obligations to advance scheduled monthly principal and interest payments for single-family mortgage loans. Once a servicer has advanced four months of missed…
EDA: $1.1 Million Invested to Protect Iowa Businesses from Future Floods
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million grant to the M&P Missouri River Levee District of Glenwood, Iowa, to support resiliency planning to protect the region from future flooding disasters. The EDA grant will be matched with $279,149 in local investment. “The…
EDA: $3 Million Invested to Provide Critical Infrastructure Improvements in Tulsa County, OK Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to Tulsa County, Oklahoma, to improve critical infrastructure needed to protect businesses from flood damage. The EDA grant, which is located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $750,000 in…
HUD: $1.5 Million in Funding Awarded to Support COVID-19 Related Fair Housing Activities
The U.S. Department of Housing and Urban Development (HUD) today announced it is awarding $1.5 million in Partnership and Special Enforcement Effort funds to HUD Fair Housing Assistance Program (FHAP) agencies to support COVID-19 education activities. The funds are being provided through the Coronavirus Aid, Relief, and Economic Security Act (CARES) of 2020, which President Trump…
ABA: Bankers Celebrate Financial Capability Month by Taking Teach Children to Save Online
While schools may be closed due to COVID-19, bankers across the country are finding new and innovative ways to share the Teach Children to Save program this year, including virtual financial education lessons for children across the nation. Since 1997, the ABA Foundation’s financial education initiatives have reached 11.1 million young people through more than…
FEMA: President Trump Approves Major Disaster Declaration for Mississippi Due to Severe Storms
FEMA announced that federal disaster assistance has been made available to the state of Mississippi to supplement state, tribal and local recovery efforts in the areas affected by severe storms, tornadoes, straight-line winds and flooding on April 12, 2020. The President’s action makes federal funding available to affected individuals in Covington, Jefferson Davis and Jones…
FEMA: President Trump Approves Major Disaster Declaration for American Samoa
FEMA announced that federal emergency aid has been made available to the territory of American Samoa to supplement territorial and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on Jan. 20, 2020 and continuing. Federal funding is available to territorial and eligible local governments and certain private nonprofit…
EDA: $4.5 Million Invested to Convert Former Naval Station Roosevelt Roads to Commercial Use in Puerto Rico
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.5 million grant to the Local Redevelopment Authority for Roosevelt Roads, San Juan, Puerto Rico, to rehabilitate a building and make other infrastructure improvements on former Naval Station Roosevelt Roads. The EDA grant will support early-stage businesses…
CFPB: Final Rule Issued Raising Data Reporting Thresholds Under HMDA
The Consumer Financial Protection Bureau (Bureau) issued a final rule raising the loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act (HMDA). The final rule, amending Regulation C, increases the permanent threshold for collecting and reporting data about closed-end mortgage loans from 25 to 100 loans effective July 1, 2020….