FDIC: Regulatory Relief Guidance for Financial Institution in Areas of Hawaii Affected by Volcanic Eruptions and Earthquakes
Summary: The FDIC announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Hawaii affected by volcanic eruption and earthquakes. Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised financial institutions. Highlights: Volcanic eruption and earthquakes…
OCC: Mortgage Performance Unchanged in First Quarter 2018
Performance of first-lien mortgages remained unchanged during the first quarter of 2018 compared with a year earlier, according to the Office of the Comptroller of the Currency’s (OCC) quarterly report on mortgages. The OCC Mortgage Metrics Report, First Quarter 2018, showed 95.6 percent of mortgages included in the report were current and performing at the…
CDFI Fund: CDFI 2018 Certification Reports Due by July 31st
Are you the Authorized Representative of a currently certified CDFI? If so, don’t forget that in order to maintain your organization’s certification status you must complete and submit the Annual Certification and Data Collection Report (ACR) for Report Year 2018. All Authorized Representatives for certified CDFIs should have received an e-mail notification from the CDFI…
Interagency Guidance: Host State Loan-to-Deposit Ratios 2018 Update Issued
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the…
CDFI Fund: New CDFI Application Acceptance Paused for 90 Days Beginning August 1st
New CDFI Certification Applications cannot be submitted August 1, 2018 through October 31, 2018 Beginning August 1, 2018, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will pause acceptance of new applications for certification as a Community Development Financial Institution (CDFI). This “blackout” period will be implemented for a period…
Census Bureau: 2017 Economic Census Deadline Extended to June 19th
The U.S. Census Bureau has granted a one-week extension for the 2017 Economic Census due to high call volumes and long wait times. The economic census response due date of June 12, has been extended to June 19, 2018. The economic census is currently collecting data for approximately 3.7 million business locations. U.S. businesses nationwide, including those…
FHFA: Fifth Report on Non-Performing Loan Sales Released
The Federal Housing Finance Agency (FHFA) today released its fifth report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold through December 31, 2017, and reflects borrower outcomes as of December 31, 2017 on NPLs sold…
Census Bureau: Postsecondary Enrollment Before, During and After the Great Recession
The Great Recession of 2007 to 2009 influenced significant changes in American postsecondary education, according to a new report by the U.S. Census Bureau. The number of students enrolled in college in the United States increased from 2.4 million in 1955 to 19.1 million in 2015. From 2006 to 2011, total college enrollment grew by 3 million,…