HUD: FHA New “Green Mortgage Insurance Premium” Reductions Announced for Residential Care Facilities Meeting Industry-Recognized Green Building Certifications
Reductions of mortgage insurance premiums for “green” Section 232 Residential Care Facilities supports Administration’s environmental objectives and HUD’s Climate Action Plan. The Federal Housing Administration (FHA) announced on Wednesday, May 18 that it intends to implement significant reductions in the upfront and annual mortgage insurance premiums (MIP) it charges for most mortgage insurance categories under the Section…
FDIC: Hawaiian Banker Named to Minority Depository Institutions Subcommittee
The Federal Deposit Insurance Corporation (FDIC) today announced Russell Lau, the Chairman and Chief Executive Officer of Finance Factors, Ltd in Honolulu, is the newest member of the agency’s Minority Depository Institutions (MDI) Subcommittee to the Advisory Committee on Community Banking. The FDIC’s MDI Subcommittee serves as a source of feedback for FDIC strategies to…
HUD: $10.3 Billion in Grants Announced for Housing and Community Development Activities Across U.S.
Funding Will Enable Affordable Housing Development and Other Activities to Meet Needs of Families and Communities The U.S. Department of Housing and Urban Development (HUD) today announced $10.3 billion in Fiscal Year 2022 formula grants to communities across the United States for housing and community development activities ranging from affordable housing development to public housing…
EDA: $4.2 Million Invested for Roadway Improvements to Support Business Development in Hampton County, SC
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $4.2 million grant to Hampton County, South Carolina, for roadway improvements. This project will support job creation through transportation infrastructure and food supply chain improvements. The EDA investment will be matched with $1 million in local…
EDA: $2.2 Million Invested for Construction of a Produce Processing and Distribution Facility in Lawrenceville, VA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.2 million grant to the Brunswick County Industrial Development Authority, Lawrenceville, Virginia, for construction of a produce processing and distribution facility. This project will create jobs in the local produce industry and promote long-term economic resilience….
EDA: $789,724 Invested to Expand an Entrepreneurial Training Program in Charleston, SC
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $789,724 grant to Lowcountry Local First, Charleston, South Carolina, to support their Good Growth Program. This project will support an initiative to expand the Good Enterprises entrepreneur training and support program. The project will be matched with $306,087 in state and local…
CFPB: Agency Takes Action to Protect Depositors from False Claims about FDIC Insurance
FDIC takes parallel action to combat misrepresentations The Consumer Financial Protection Bureau (CFPB) released an enforcement memorandum today that addresses prohibited practices on claims about Federal Deposit Insurance Corporation (FDIC) insurance. Specifically, firms cannot misuse the name or logo of the FDIC or make deceptive representations about deposit insurance. The issue has taken on renewed…
HUD: Asset-Building Support Expanded for HUD-Assisted Families
The U.S. Department of Housing and Urban Development (HUD) on Monday announced it will publish a rule to implement changes to the Family Self-Sufficiency (FSS) Program. The changes include permanently expanding the definition of an eligible family to include tenants of privately owned multifamily properties subsidized with Project-Based Rental Assistance (PBRA). “As we mark the…
HUD: Actions to Increase Affordable Housing Supply and Lower Housing Costs Higlighted
U.S. Housing and Urban Development (HUD) Secretary Marcia L. Fudge on Monday traveled to Columbus, Ohio to announce actions in the Biden-Harris Administration Action Plan to Ease the Burden of Housing Costs, The Plan is a set of legislative and administrative steps aim to close the housing supply gap within the next five years. Secretary Fudge…
CDFI Fund: Applications Open for the FY 2022 Small Dollar Loan Program Round
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2022 funding round for the Small Dollar Loan Program (SDL Program) today. SDL Program funding is intended to expand consumer access to financial institutions by providing alternatives to high cost small dollar lending. The SDL Program funding…