FHFA: 2019 Multifamily Lending Caps Announced for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) today announced that the 2019 multifamily lending caps for Fannie Mae and Freddie Mac (the Enterprises) will be $35 billion for each Enterprise, unchanged from the 2018 caps. The caps are based on FHFA’s projections of the overall size of the 2019 multifamily originations market, which FHFA expects to…
BCFP & FHFA: National Survey of Mortgage Originations Dataset Released for Public Use
The Bureau of Consumer Financial Protection (BCFP) and the Federal Housing Finance Agency (FHFA) today released for public use a new loan-level dataset collected through the National Survey of Mortgage Originations (NSMO) that provides insights into borrowers’ experiences in getting a residential mortgage. The NSMO is a component of the National Mortgage Database (NMDB®), the…
EDA: $1.9 Million Invested to Support Manufacturing in Macon, GA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.9 million grant to Macon-Bibb County and Macon-Bibb County Industrial Authority of Macon, Georgia, to make infrastructure improvements that will support manufacturing companies in the region. According to grantee estimates, the project is expected to create 211…
CFPB: New Financial Education Resources to Help Teachers Bring Youth Financial Capability into the Classroom
As children grow, their potential to manage money and understand financial concepts grows as well. The knowledge, skills, and behaviors kids learn when they’re young lay the groundwork for their financial well-being as adults. Schools and teachers play a critical role in financial education. But, we know there are challenges to bringing financial education into…
CDFI Fund: FY 2019 CDFI Bond Guarantee Program Application Period Now Open
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2019 application period for the CDFI Bond Guarantee Program. The CDFI Bond Guarantee Program responds to the critical market demand for long-term, low-cost capital that can be used to spur economic growth in low-income communities. Through…
FHFA: Progress Update on Fannie Mae and Freddie Mac Credit Risk Transfer Programs
The Federal Housing Finance Agency (FHFA) today issued a Credit Risk Transfer Progress Report describing the status and volume of credit risk transfer (CRT) transactions through the second quarter of 2018. The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the…
CDFI Fund: CDFI Certification Application Now Available in AMIS
In June, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced that it would not accept new applications for certification as a Community Development Financial Institution (CDFI) for a 90-day period, beginning August 1, 2018. The CDFI Fund needed to temporarily halt the application submission process to implement critical systems…
CUNA: $2 Million in Grants Awarded to 203 Low-Income Credit Unions
The NCUA awarded $2 million in grants to 203 low-income credit unions, funding from the agency’s Community Development Revolving Loan Fund (CDRLF). CUNA strongly supports full funding for the CDRLF, and successfully fought to restore funding when the fund was zeroed out for fiscal year 2018. Grant awards ranging from $1,300 to $20,000 were made…
SBA: National Veterans Small Business Week Kicks Off November 5-9
The U.S. Small Business Administration will celebrate the accomplishments of veteran, service member and military spouse small business owners nationwide during National Veterans Small Business Week, Nov. 5-9. “National Veterans Small Business Week is another opportunity for us not only to highlight the success of our nation’s 2.5 million veteran-owned businesses, but also to recognize…
SBA: Shawn Pensoneau Appointed to Office of Native American Affairs
Administrator Linda McMahon of the U.S. Small Business Administration announced the appointment of Shawn Pensoneau as the Assistant Administrator for the SBA’s Office of Native American Affairs. In this role, he will oversees the office’s collaboration with American Indians, Alaska Natives and Native Hawaiians who seek to create, develop and expand small businesses and ensure…