FHFA: Index Shows Mortgage Rates Increased in December 2017
Nationally, interest rates on conventional purchase-money mortgages increased from November to December, 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 4.08 percent for loans closed in late December, up 3 basis points from 4.05 percent in November….
Interagency Statement: Agencies to Give Favorable CRA Consideration to Revitalization Activities in Disaster Areas Affected by Hurricane Maria
OCC Statement FDIC Statement Federal Reserve Statement The federal bank regulatory agencies today announced they will give favorable consideration under Community Reinvestment Act (CRA) regulations to institutions that are located outside of the U.S. Virgin Islands and Puerto Rico, which were designated as major disaster areas in the aftermath of Hurricane Maria, for bank activities…
CFPB: Changes Finalized to Prepaid Account Rules
Changes Provide More Flexibility and Extend Effective Date to April 2019 The Consumer Financial Protection Bureau (Bureau) announced today that it has finalized updates to its 2016 prepaid rule. The Bureau’s 2016 prepaid rule put in place requirements for treatment of funds on lost or stolen cards, error resolution and investigation, upfront fee disclosures, access…
FHFA: House Price Index Up 0.4 Percent in November 2017
U.S. house prices rose in November, up 0.4 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.5 percent increase in October was revised upward to 0.6 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages…
SBA: Free Webinar Series to Help Small Businesses Navigate the HUBZone Program
The U.S. Small Business Administration will present a six-part, free webinar series to help small businesses navigate its Historically Underutilized Business (HUB) Zone Program that will run from February to mid-March. The hour-long webinars will cover the following topics: Feb. 7 HUBZone Contracting: Make the Federal Government Your Customer 2-3p.m. EST Small businesses will…
FEMA: Encouraging Tsunami Awareness and Preparedness for Coastal Communities
Following an intense earthquake that occurred in the Gulf of Alaska, which prompted tsunami watches, advisories and warnings across many state coastlines, FEMA continues to highlight safety tips for those who live in or visit coastal communities. While today’s immediate threat has passed, the situation serves as a reminder to all that there are steps…
HUD: $37 Million in Grants Awarded to Fight Housing Discrimination
Grants will support more than 150 fair housing organizations nationwide The U.S. Department of Housing and Urban Development (HUD) announced today it is awarding $37 million to fight housing discrimination under its Fair Housing Initiatives Program (FHIP). These grants will support more than 150 national and local fair housing organizations working to confront violations of…
CFPB: Looking for a Loan? Find Out How to Know Before You Owe
Many people rely on loans to pay for college, buy a car, or become a homeowner. Taking out a loan can feel overwhelming and can significantly affect your financial future. When you’re taking out a big loan, you have many options and sometimes they can be confusing. That’s why we offer Know Before You Owe,…
ABA: Bank Economists See Solid Economic Growth Supported by Tax Reform
The U.S. economy will continue to grow through 2019, surpassing the longest previous period of economic prosperity in the post-war era, according to the Economic Advisory Committee of the American Bankers Association. “This expansion has already spanned nine years, supported by strengthening labor markets, low interest rates, and a late-cycle resurgence in business investment,” said…
FEMA: Understanding Your FEMA Assistance Determination Letter
Survivors of Hurricanes Irma and Maria who registered with FEMA for disaster assistance receive a determination letter with their eligibility decision and the reason for it. For those who are eligible, the letter states the dollar amount of the grant and how the funds should be used. When ineligible, the letter explains why and how…