HUD: FHA Takes Additional Steps to Expand Affordable Housing Supply through FHA’s Claims without Conveyance of Title
Mortgagee Letter supports the Biden-Harris Administration’s efforts to increase the supply of affordable housing and expand access to homeownership for low- and moderate-income homebuyers. The Federal Housing Administration (FHA) announced on Thursday that it published Mortgagee Letter (ML) 2022-08, Expanding Affordable Housing Supply Through FHA’s Claims Without Conveyance of Title. The ML adds an initial 30-day exclusive…
HUD: Innovative “Faircloth-to-RAD” Initiative on Track to Create Nearly 1,850 Affordable Housing Units
Rental Assistance Demonstration (RAD) unlocks the creation of deeply affordable housing in support of Administration objectives to increase rental housing supply for some of the nation’s most vulnerable populations This week, the U.S. Department of Housing and Urban Development (HUD) commemorated the first anniversary of the creation of the “Faircloth-to-RAD” initiative, a new pathway that…
FHFA: Mandatory Use of the Supplemental Consumer Information Form During Loan Application Process Announced
Data collected will help lenders facilitate communications with borrowers in their preferred language The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will require lenders to use the Supplemental Consumer Information Form (SCIF) as part of the application process for loans that will be sold to the Enterprises….
EDA: $3 Million in CARES Act Recovery Assistance Invested to Expand High-Speed Internet in Michigan’s Eastern Upper Peninsula
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million CARES Act Recovery Assistance grant to Merit Network, Inc., Ann Arbor, Michigan, to support construction of a 70-mile, middle-mile fiber optic infrastructure, which will expand access to high-speed internet in the region. The project…
ABA: Foundation Encourages Banks to Submit Nominations for 10th Annual Community Commitment Awards
The ABA Foundation is seeking submissions for its 10th annual Community Commitment Awards. The awards, one of the industry’s highest honors for extraordinary community engagement, recognizes innovative, high-impact bank programs that improve the quality of life for customers banks serve. The entry period for submitting nominations ends July 1. “Over the last 10 years, ABA has…
Census Bureau: Profile America Audio Podcast Ends 25-Year Run
The U.S. Census Bureau’s current daily podcast Profile America Audio will come to an end after 25 years on April 30. Profile America began in 1997 with one-minute audio clips and scripts that have connected Census Bureau data to a wide range of familiar and sometimes overlooked national holidays, anniversaries, observances, celebrations and historic events. The distribution of Profile…
EDA: Over $52.4 Million in American Rescue Plan Funds Invested to Support Economic Development and Put People Back to Work
These projects were made possible by regional planning efforts led by the South Carolina Appalachian Council of Governments (SCACOG). EDA funds SCACOG to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs. This project is funded under EDA’s American…
ABA: Foundation Recognizes ‘Lights, Camera, Save!’ Winners for 2022
Ohio Teen Named Grand Prize Winner of National Video Contest Brodie Bosworth, a 17-year-old student at Lancaster High School in Lancaster, Ohio, is the national winner of the American Bankers Association Foundation’s Lights, Camera, Save! teen video contest for his entry, “Money Tree.” The ABA Foundation announced the national contest winners today via a video posted to ABA’s…
SBA: 2022 National Small Business Week Co-Sponsors and Virtual Summit Event Schedule Announced
Official partners support SBA message of “Building a Better America Through Entrepreneurship” Today, the U.S. Small Business Administration announced the official cosponsors and schedule for its 2022 National Small Business Week (NSBW) Virtual Summit, themed “Building a Better America Through Entrepreneurship,” taking place May 2-5, 2022. National Small Business Week events are made possible every year due in part to the…
FHFA: Fannie Mae and Freddie Mac Duty to Serve Underserved Markets Plans for 2022-2024 Announced
The Federal Housing Finance Agency (FHFA) today published the 2022-2024 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) Program. The DTS Plans demonstrate a strengthened commitment to serving manufactured housing, affordable housing preservation, and rural housing. The targets and strategies in the Plans build on lessons…