SBA: Military Spouse Employment Partnership with the Defense Department Announced
On Dec. 9, 2020, the U.S. Small Business Administration will join the Department of Defense’s Military Spouse Employment Partnership (MSEP) for a virtual ceremony. The SBA is one of 85 new partners joining MSEP, bringing the total number of employers to 500. MSEP connects military spouses with hundreds of partner employers who commit to recruit, hire, promote and retain…
EDA: $645,600 Invested to Support Economic Development in University of Tennessee Research Park in Knoxville, TN Opportunity Zone
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $645,600 grant to Three Roots Capital, Knoxville, Tennessee, to support the implementation of an economic development strategy to drive investment to the University of Tennessee’s Cherokee Farm Research Park. The project, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will…
EDA: $600,000 Invested to Boost Workforce Training and Entrepreneurial Growth Efforts in Lawrence, MA Opportunity Zone
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $600,000 grant to Lawrence Partnership Inc., Lawrence, Massachusetts, to promote workforce training, job creation, entrepreneurial growth, and private investment in northeastern Massachusetts by expanding the Lawrence Revolving Test Kitchen. The project, to be located in a Tax Cuts and Jobs ActOpportunity Zone, will…
EDA: $360,000 in CARES Act Recovery Assistance Invested to Support Statewide Tourism Economic Recovery Strategy in Louisiana
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $360,000 grant to the Louisiana Office of Tourism, Baton Rouge, Louisiana, to support a statewide economic recovery strategy in a key tourism sector. The project will be matched with $90,000 in local funds. “This investment comes at a crucial time to help…
FHFA: Principal Deputy Director Adolfo Marzol to Retire
Senior Advisor for Regulation Chris Bosland will be Promoted to Principal Deputy Director The Federal Housing Finance Agency (FHFA) today announced that Principal Deputy Director Adolfo Marzol will retire on December 18, 2020. Chris Bosland, FHFA’s Senior Advisor for Regulation, will succeed Marzol as the Principal Deputy Director. “I cannot thank Adolfo enough for the…
OCC: Project REACh Pledge Released to Promote Vitality of Minority Depository Institutions
The Office of the Comptroller of the Currency today announced the release of the Project REACh Minority Depository Institution (MDI) Pledge. In doing so, Acting Comptroller of the Currency Brian P. Brooks encouraged all large and midsize banks to consider the pledge to develop meaningful partnerships with MDIs to help them remain a vibrant part…
HUD: FHA Announces New Single Family Loan Limits for 2021
The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for calendar year 2021 for its Single Family Title II forward and Home Equity Conversion (reverse) Mortgage insurance programs. Loan limits for most of the country will increase in the coming year resulting from robust house price appreciation, which is factored…
FHFA: Foreclosure and REO Eviction Moratoriums Extended
Foreclosure moratorium applies to Enterprise-backed mortgages; eviction moratorium applies to Enterprise-owned properties Today, to help borrowers at risk of losing their home due to the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO)…
Federal Reserve: Speech by Governor Brainard on Modernizing and Strengthening CRA Regulations
At The Chicago Community Trust, Chicago, Illinois Good morning. I want to thank Dr. Helene Gayle for inviting me to join this conversation, along with the staff, grantees, and partners of the Chicago Community Trust and President Charlie Evans of the Federal Reserve Bank of Chicago. I appreciate the opportunity to discuss economic inclusion and…
HUD: $54.7 Million in Grants Awarded to Expand Development of New Rental Housing for Extremely Low-Income Persons with Disabilities
The U.S. Department of Housing and Urban Development today announced the award of over $54.7 million in capital advance and project rental assistance grants to 15 organizations, to expand the supply of affordable rental housing for extremely low-income persons with disabilities. The capital advance awards will support integrated affordable housing by providing funding for the…