HUD: FHA Launches New Resources to Remove Language Barriers for Borrowers
Multi-language translations of single family mortgage documents offer new resources for lenders and servicers when working with borrowers with limited English proficiency. Today, the Federal Housing Administration (FHA) is making available in Chinese, Korean, Spanish, Tagalog, and Vietnamese more than 30 single family mortgage documents and related resources used in the origination of FHA-insured mortgages….
ABA: Joanne Campbell and Jim Bedsole Receive ABA Distinguished Service Awards for Risk and Compliance
Joanne Campbell, executive vice president of enterprise risk management and chief risk officer for Camden National Bank in Camden, Maine, and Jim Bedsole, senior vice president and chief compliance and risk officer for BankSouth in Greensboro, Ga., today received the 2023 American Bankers Association’s Distinguished Service Award for Risk and the Distinguished Service Award for…
HUD: Agency and Terner Housing Innovation Labs Announce Event Series on Impact of Technology on the Housing Field
During last Friday’s kickoff ceremony for the Innovative Housing Showcase, Secretary Marcia L. Fudge announced a new partnership between the U.S. Department of Housing and Urban Development (HUD) and the Terner Housing Innovation Labs at UC Berkeley (Terner Labs) to convene an event series focused on the implications of new technologies for housing supply, access,…
OCC: Comments Requested on Proposed Annual Public Trust in Banking Survey
The Office of the Comptroller of the Currency (OCC) today announced a request for information to gather input on a proposed annual trust survey with the goal of understanding, measuring, and tracking the public’s trust in banking and bank supervision by the OCC and other banking regulators over time. The OCC invites interested members of…
HUD: Native American Homebuyers to Save an Average of $500 in the First Year on Mortgage Payments through Fee Reductions
Reductions in Section 184 Indian Home loan fees supports the Biden-Harris Administration’s goal to make homeownership more affordable and accessible for families. The Department of Housing and Urban Development (HUD), through the Office of Native American Programs, announced reductions to both the Upfront Loan Guarantee fee and the Annual Loan Guarantee fee charged to homebuyers…
HUD: Initiative Launched to Address LGBTQI+ Youth Homelessness
Today, the U.S. Department of Housing and Urban Development announced the launch of a new LGBTQI+ Youth Homelessness Initiative, which will partner with local communities, service providers, and directly-affected young people to address barriers to housing and shelter access for lesbian, gay, bisexual, transgender, queer, and intersex (LGBTQI+) youth. Nearly 40 percent of all youth…
CFPB: Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking
Poorly deployed chatbots can impede customers from resolving problems The Consumer Financial Protection Bureau (CFPB) today released a new issue spotlight on the expansive adoption and use of chatbots by financial institutions. Chatbots are intended to simulate human-like responses using computer programming and help institutions reduce the costs of customer service agents. These chatbots sometimes…
SBA: Applications Open for Small Business Lending Company License
Expanding the number of Lenders to increase access to small, affordable loans for millions of small business owners Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33.2 million small businesses in President Biden’s Cabinet, opened a window for new applications for Small Business Lending Company (SBLC) licenses for the first time…
HUD: PAVE Task Force Announces New Actions to Address Appraisal Bias
Today, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), co-chaired by U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge and White House Domestic Policy Advisor Neera Tanden, announced a set of meaningful actions to deliver on the PAVE Action Plan and ensure that every American who buys a…
HUD: National Healthy Homes Month Kicks Off
Theme of Connecting home, health, and You highlights how fixing hazards in homes improves residents’ health while improving access to safe, affordable healthy housing across the nation. Today, the U.S. Department of Housing and Urban Development (HUD) kicks off activities for this year’s National Healthy Homes Month (NHHM), an annual campaign highlighting the direct link…