Industry News

HUD: FHA 2021 Annual Financial Report to Congress Released

Capital ratio remains above statutory minimum benefitting from rapid home price appreciation and a steady recovery from COVID-19 pandemic delinquencies. The U.S. Department of Housing and Urban Development (HUD) today released its fiscal year (FY) 2021 report to Congress on the financial health of the Federal Housing Administration (FHA) Mutual Mortgage Insurance Fund. In addition to its…

FFIEC: New “Announcements” Communication Tool Announced

The Federal Financial Institutions Examination Council (FFIEC) today introduced “FFIEC Announcements,” an email notification providing relevant and timely information designed specifically for examiners and practitioners within the financial services sector. FFIEC Announcements will be distributed to the Council’s email subscribers notifying them of updates to the FFIEC’s website and InfoBases. Each Announcement will also be…

EDA: $4.9 Million in CARES Act Recovery Assistance Invested to Support Healthcare Workforce Training Efforts in Pueblo, CO

Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $4.9 million CARES Act Recovery Assistance grant to Pueblo Community College (PCC), Pueblo, Colorado, to expand the college’s healthcare training program. The project will allow PCC to expand and grow its healthcare program, adding 225 students,…

EDA: $2 Million in CARES Act Recovery Assistance Invested to Support Entrepreneurship in Peoria, IL

Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million CARES Act Recovery Assistance grant to Distillery Labs, Peoria, Illinois, to create a business assistance and incubator space. This project will support local entrepreneurs by funding space and programming for local entrepreneurship and start-up…

CFPB: Action Taken to Prevent Avoidable Foreclosures

Agencies Will Examine for Compliance with COVID-19 Protections Today, the Consumer Financial Protection Bureau (CFPB), jointly with other government agencies, announced a return to enforcement of critical protections for families and homeowners. Those protections, put in place in the wake of the Great Recession to prevent another foreclosure crisis, give families the chance to find…

ABA: Foundation Whitepaper Released on Expanding Financial Service Access for Justice System-Involved Individuals

The ABA Foundation today released a new whitepaper entitled “Strategies to Expand Financial Services Access for Individuals Involved in the Criminal Justice System” that explores common barriers justice system-involved individuals face when trying to gain entry to the financial system following the completion of their sentence. By profiling existing bank initiatives, the report also outlines potential strategies…

HUD: $74 Million Announced to Deliver Equitable COVID-19 Relief to Tribal Communities

The U.S. Department of Housing and Urban Development (HUD) today announced more than $73.9 million in Indian Community Block Grant-American Rescue Plan (ICDBG-ARP) grants to 68 Tribal communities. The announcement, made during a press call with HUD Deputy Secretary Adrianne Todman, underscores the Biden-Harris Administration’s commitment to delivering equitable COVID-19 relief to Tribal communities. A…

HUD: $36 Million Awarded to Boost Local Economic Development and Affordable Housing Programs

More than 250 communities across the country will be able to increase the economic impact of their local community development and affordable housing programs for low- and moderate-income persons through $36 million in “capacity-building” grants awarded by the U.S. Department of Housing and Urban Development (HUD). The funds awarded will support three national organizations and…

HUD: FHA Revised Title I Policies Published to Further Future Financing of Manufactured Homes

The Federal Housing Administration (FHA) on Tuesday announced the publication of significantly revised and enhanced policies under its Single-Family Title I Manufactured Home Loan Program for lenders to provide loans for the financing of manufactured homes, including those titled as personal property, and the lots on which these homes will reside. The enhanced policies provide updated guidance…

EDA: $314 Million Announced to Accelerate Travel, Tourism and Outdoor Recreation Post-Pandemic

U.S. Secretary of Commerce Gina M. Raimondo today announced that the Department’s Economic Development Administration (EDA) is awarding $314 million in American Rescue Plan State Travel, Tourism, and Outdoor Recreation grants to 34 states and the District of Columbia. These investments will support marketing, infrastructure, workforce and other projects to rejuvenate safe leisure, business, and…