FDIC: History of the Agency’s Response to the Financial Crisis Publication Released
The Federal Deposit Insurance Corporation (FDIC) on Monday released a history of the financial crisis focusing on the agency’s response and lessons learned from its experience. Crisis and Response: An FDIC History, 2008–2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises—first, the…
FHFA: Fannie Mae’s and Freddie Mac’s Underserved Markets Plans for Duty to Serve Program Published
The Federal Housing Finance Agency (FHFA) today published Fannie Mae’s and Freddie Mac’s (the Enterprises) Underserved Markets Plans for 2018-2020 under the Duty to Serve program. The Plans become effective January 1, 2018. FHFA issued a final rule on December 13, 2016 to implement the Duty to Serve provisions mandated by the Housing and Economic…
HUD: $75 Million Awarded to Help Low-Income Residents Receive Job Training and Employment
HUD Marks 25 Years of Helping Families Become Self-Sufficiency WASHINGTON – Twenty-five years ago this year, the U.S. Department of Housing and Urban Development (HUD) launched a program to help households living in assisted housing to become self-sufficient. Today, HUD marked the 25th anniversary of the Family Self-Sufficiency Program (FSS) by awarding $75 million to continue…
CDFI Fund: Application Demand for FY 2017 Round of Capital Magnet Fund Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the application data for the fiscal year (FY) 2017 round of its Capital Magnet Fund program. A total of 120 organizations headquartered in 38 states and the District of Columbia submitted eligible applications requesting nearly $540 million in funding. 54…
Federal Reserve: Speech – Workforce Development in Today’s Economy
Governor Lael Brainard At “Leading the Way: A Workforce Development Video Campaign” awards ceremony hosted by the Federal Reserve Bank of New York and Pathways in Technology Early College High Schools in the Greater Rochester Area, Rochester, N.Y. I would like to thank the staff at the Federal Reserve Bank of New York for inviting…
CFPB: Preparing America’s Young Workers for Success
The success of America’s young workers is critical to the strength of our economy. Millions of young people enter the workforce every year. Youth employment programs offered in local communities present a powerful opportunity to help young people develop healthy financial habits early and access services and products that can help them save, invest, and…
CDFI Fund: Conference Call on 2018 Bond Guarantee Program Round on December 18th and 19th
On November 1, 2017, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2018 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in bond guarantee authority is available to eligible Community Development Financial Institutions (CDFIs) in FY 2018, pending…
HUD: New FHA Loan Limits for 2018 Announced
Loan limits to increase in more than 3,000 counties The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for 2018, with most areas in the country to experience an increase in loan limits in the coming year. These loan limits are effective for FHA case numbers assigned on or after…
HUD: FHA to Halt Insuring Mortgage with PACE Assessments
The Federal Housing Administration (FHA) today announced it is reversing a short-lived policy announced in July of 2016 and will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments. Read FHA’s mortgagee letter. FHA’s decision is part of a larger effort to protect the health of its Single Family…
HUD: Secretary Carson Launches EnVision Center Initiative
Today, Dr. Ben Carson, Secretary of the U.S. Department of Housing and Urban Development announced the launch of EnVision Centers, a new initiative designed to help HUD-assisted households achieve self-sufficiency. Located on or near public housing developments, EnVision Centers will be centralized hubs that serve as an incubator for the four key pillars of self-…