FDIC & OCC: 30-day Extension of Comment Period for Proposed Changes to CRA Regulations Announced
The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the regulations implementing the Community Reinvestment Act (CRA) until April 8, 2020. On December 12, 2019, the FDIC and OCC announced a proposal to modernize the regulations under the CRA…
OCC: FDIC & OCC Announce 30-day Extension of Comment Period for Proposed Changes to CRA Rules
The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the rules implementing the Community Reinvestment Act (CRA) until April 8, 2020. On December 12, 2019, the FDIC and OCC announced a proposal to modernize the regulations under the CRA…
FDIC: FFIEC Issues 2020 Version of Guide to HMDA Reporting: Getting It Right!
Summary: The Federal Financial Institutions Examination Council (FFIEC) has issued the 2020 edition of A Guide to HMDA Reporting Getting It Right! for Home Mortgage Disclosure Act-related data collected in 2020 and reported in 2021. This compliance resource can help financial institutions better understand HMDA requirements, including the data collection and reporting provisions. Statement of Applicability to…
FHFA: Updated Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers Proposed
The Federal Housing Finance Agency (FHFA) today proposed updated minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers. The updated minimum financial requirements will further strengthen the Enterprises’ Seller/Servicer requirements and provide transparency and consistency of capital and liquidity required for Seller/Servicers with different business models. A key improvement from the minimum financial…
HUD: Final Rule Announced to Update Manufactured Home Construction and Safety Standards
During Bus Tour, Secretary Carson Cuts Federal Barriers to Manufactured Housing. During a visit to Clayton Homes as part of the “Driving Affordable Housing Across America Bus Tour,” U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson announced a final rule on formaldehyde emissions for manufactured homes, and a proposed rule to revise the federal Manufactured Home Construction…
HUD: Guidance Issued on Reasonable Accommodations under the Fair Housing Act Relating to Assistance Animals
The U.S. Department of Housing and Urban Development (HUD) today announced the publication of guidance clarifying how housing providers can comply with the Fair Housing Act when assessing a person’s request to have an animal in housing to provide assistance because of a disability. The Fair Housing Act prohibits discrimination in housing against individuals who…
HUD: New Rule Proposed Recognizing Additional Building Codes and Standards to Encourage More Housing Development
Proposed Rule to Adopt New Safe Harbors for Complying with the Fair Housing Act’s Design and Construction Requirements in Multifamily Housing The U.S. Department of Housing and Urban Development (HUD) today announced a proposed rule that would recognize additional sets of standards and model building code editions that, when followed in the design and construction of new…
OCC: Request for Information Regarding CRA Proposed Rule
On January 9, 2020, the OCC and the Federal Deposit Insurance Corporation (the agencies) published a notice of proposed rulemaking that would amend their regulations implementing the Community Reinvestment Act (CRA). The OCC seeks public input with this request for information to assist in determining how the proposed rule might be revised to ensure that…
HUD: Improved Fair Housing Proposed Rule Issued
The U.S. Housing and Urban Development (HUD) today published its proposed Affirmatively Furthering Fair Housing (AFFH) rule, which offers clearer guidance to states and local governments to help them improve affordable housing choices in their community. Read HUD’s proposed rule. “HUD’s commitment to Fair Housing remains as steadfast as ever before, and this improved rule reaffirms our mission…
Interagency Release: Agencies Release CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions
The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. The annual adjustments are required by the CRA rules. Financial institutions are evaluated under different CRA examination procedures…