HUD: Agency Commemorates National Homeownership Month with Launch of Housing Counseling Awareness Campaign
Secretary Fudge announces June 10 House Party 2.0: “Make Home the Goal” on the National Mall “Let’s Make Home the Goal” campaign highlights the benefits of housing counseling and supports efforts to close the racial homeownership gap As declared by President Biden’s Presidential Proclamation, the month of June is commemorated as National Homeownership Month. The U.S….
CFPB: Billions of Dollars Stored on Popular Payment Apps May Lack Federal Deposit Insurance
Agency issues notice to consumers advising them to transfer balances to insured banks and credit unions The Consumer Financial Protection Bureau (CFPB) published an issue spotlight on digital payment apps heavily used by consumers and businesses. The analysis finds that funds stored on these apps may not be safe in the event of financial distress,…
HUD: FHA Proposes Innovative Approach to Keep Struggling Homeowners in their Homes
In consideration of steeply increased interest rates, FHA seeks input on new approach to help its borrowers Today, the Federal Housing Administration (FHA) posted for feedback a proposal for a new home retention option to help struggling homeowners meet their mortgage obligations. The new option, called the Payment Supplement Partial Claim, would allow mortgage servicers to use…
FHFA: Input Requested on Multifamily Tenant Protections
Today, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac (the Enterprises). Through their role as secondary market participants in the multifamily housing market, the Enterprises have a public mission to support the availability of safe, decent…
FDIC: Eight New Members Named to Advisory Committee on Community Banking
June 1st meeting to address a wide range of community banking issues The Federal Deposit Insurance Corporation (FDIC) today announced eight new members of the agency’s Advisory Committee on Community Banking: Thomas Bates, President & CEO, Legends Bank, Clarksville, Tennessee Michael Culhane, President & CEO, North Cambridge Co-operative Bank, Cambridge, Massachusetts Anita Drentlaw, President & CEO,…
SBA: New Initiative to Launch to Increase Federal Contracting with Small Disadvantaged Businesses
8(a) MAS Pool Initiative Will Help More 8(a)-certified Firms Gain Access to Federal Contracting Opportunities Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), and Administrator Robin Carnahan, head of the U.S. General Services Administration (GSA), announced a joint effort, known as the 8(a) MAS Pool Initiative, to help small disadvantaged businesses (SDBs) participating in the…
OCC: Acting Comptroller Discusses Financial Inclusion
Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currency’s (OCC) commitment to a fair and inclusive financial system in remarks at the Bank On National Conference. In his remarks, the Acting Comptroller discussed progress made by the CFE Fund and Bank On partners in improving access…
FDIC: Advisory Committee on Economic Inclusion to Meet on May 24th
One New Member also Announced The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE–IN) will meet on Wednesday, May 24, 2023, to discuss updates from Committee members about key challenges facing their communities or organizations. There will also be panel discussions on opportunities for entities that administer government benefit programs to harness…
SBA: 2023 Growth Accelerator Fund Competition Stage One Winners Announced
Opportunity for organizations to partner with Stage One winners in Stage Two for up to $5 million in total additional prizes to strengthen innovation ecosystems nationwide Today, Administrator Isabella Casillas Guzman announced the U.S. Small Business Administration (SBA) 2023 Growth Accelerator Fund Competition Stage One “Catalyze” winners to fund and build strategic ecosystem partnerships for forty organizations across the…
HUD: FHA Finalizes Policies to Expedite Claims Processing for Home Equity Conversion Mortgages
New policies are expected to shorten the timeframe for mortgagees to receive Home Equity Conversion Mortgage assignment funds. Today, the Federal Housing Administration (FHA) is announcing new policies that will allow for faster payment of funds to mortgagees when they assign a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, to HUD. The changes…