HUD: FHA Extends Current Foreclosure Protections for Borrowers in Maui County, HI
To assist borrowers impacted by the August wildfires, mortgage servicers will be prohibited from initiating or completing foreclosure actions through May 6, 2024. The Federal Housing Administration (FHA) today announced it is extending its existing disaster-related foreclosure moratorium in Maui County, HI, through May 6, 2024, for borrowers with FHA-insured single-family mortgages, including seniors with Home Equity…
HUD: FHA Changes Appraisal Requirements for Certain Manufactured Homes to Enhance Financing Flexibility for Borrowers
Updated requirements for valuation of manufactured homes contribute to FHA’s efforts to increase the availability and affordability of manufactured housing as part of the Biden-Harris Administration’s Housing Supply Action Plan. The Federal Housing Administration (FHA) today announced the publication of updated appraisal requirements for the valuation of manufactured homes certified under Fannie Mae’s MH AdvantageTM and Freddie Mac’s…
OCC: CRA Evaluations for 24 National Banks and Federal Savings Associations Released
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of October 1, 2023, through October 31, 2023. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The…
CFPB: New Report Issued on State Community Reinvestment Laws
State Community Reinvestment Acts demonstrate how states promote reinvestment activities for banks, credit unions and mortgage companies Today, the Consumer Financial Protection Bureau (CFPB) published a new analysis on state Community Reinvestment Act laws, highlighting how states ensure financial institutions’ lending, services, and investment activities meet the credit needs of their communities. The report examined…
SBA: Historic Step Taken to Expand Access to Capital and Fill Lending Gaps in Underserved Communities through the SBLC Program
New Licenses Mark Milestone Achievement in Biden-Harris Administration Efforts to Increase Access to Capital Today, Administrator Isabel Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced that the SBA has granted three new Small Business Lending Company (SBLC) licenses to lenders focused…
HUD: FHA Proposes New Enhancements to Home Equity Conversion Mortgage Program
HUD is seeking public feedback on proposals to improve program’s stability for senior homeowners. The Federal Housing Administration (FHA) today announced it has posted for industry feedback a set of proposed policy updates to its Home Equity Conversion Mortgage (HECM) program designed to improve program stability and to respond to changing market conditions. These measures reaffirm FHA’s…
HUD: FHA Publishes Comprehensive Guidance for the Home Equity Conversion Mortgage Program
Newly published chapters of the Single Family Housing Policy Handbook provide a central source of information to enhance program delivery for seniors choosing to age in place in their own homes The Federal Housing Administration (FHA) today announced the publication of consolidated and comprehensive policies for its Home Equity Conversion Mortgage (HECM) program, and the inclusion of…
FHFA: House Price Index Up 0.6 Percent in August 2023; Up 5.6 Percent from Last Year
U.S. house prices rose in August, up 0.6 percent from July, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 5.6 percent from August 2022 to August 2023. The previously reported 0.8 percent price increase in July remained unchanged. For the nine census divisions, seasonally adjusted monthly price changes from…
SBA: Boots to Business Instructors of the Year Announced to Recognize Those Who Help Set Up Veteran-Owned Small Businesses for Success
Five Award Recipients Will be Recognized During National Veterans Small Business Week, Oct. 30 to Nov. 3 Today, the U.S. Small Business Administration (SBA) named five recipients as “Boots to Business (B2B) Instructor of the Year” award winners. SBA representatives and its partner networks receive feedback about Boots to Business instructors throughout the year and honor those…
HUD: Rule Proposed to Remove Criminal Conviction Restrictions for Fair Housing Testers
New rule would eliminate restrictions on those with prior felony or certain other criminal convictions in FHIP- and FHAP-Funded Testing Programs. Today, the U.S. Department of Housing and Urban Development (HUD) published a Notice of Proposed Rulemaking in the Federal Register that would eliminate the agency’s restrictions on the use of fair housing testers with prior felony…