FHFA: Expanded Eligibility Announced for “Rep and Warrant” Relief Following COVID-19 Forbearance
Today, the Federal Housing Finance Agency (FHFA) announced that it will revise the treatment of active single-family mortgages backed by Fannie Mae and Freddie Mac (the Enterprises) for which borrowers elected a COVID-19 forbearance under the Enterprises’ representations and warranties (rep and warrant) framework. Under the updated rep and warrant policies, loans for which borrowers…
FHFA: Property Insurance Symposium Scheduled for November 14th and 15th
In an effort to foster dialogue on the growing challenges related to the availability and affordability of property insurance, the Federal Housing Finance Agency (FHFA) today announced it would host the first in a series of property insurance symposiums on November 14 and 15, 2023. “We are looking forward to engaging with industry leaders and…
SBA: Record $3 Billion in Lending Announced to Latino-Owned Small Businesses
Number of SBA-Backed Loans to Latino-Owned Small Businesses Has Doubled Under Biden-Harris Administration Today, Administrator Isabel Guzman, the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced newly finalized Fiscal Year 2023 SBA data showing that the rate of SBA-backed loans to Latino-owned small businesses has now doubled under the Biden-Harris Administration,…
HUD: Inaugural Latino Task Force Launched During Hispanic Heritage Month 2023
Dedicated to empowering the Hispanic community and bridging disparities in housing, procurement, and hiring practices As we approach the end of Hispanic Heritage Month 2023, the U.S. Department of Housing and Urban Development (HUD) officially announces its Inaugural Latino Task Force. This task force is part of a larger initiative across the Federal Government to…
ABA: Virginia Banker Appointed Chair of American Bankers Council
The American Bankers Association today announced that John Asbury has been named chair of ABA’s American Bankers Council for the 2023-2024 membership year. Asbury is the president and CEO of Atlantic Union Bankshares and CEO of Atlantic Union Bank, a Richmond, Va.-based bank with 109 branches in Virginia, Maryland and North Carolina. He is also…
FEMA: President Biden Approves Major Disaster Declaration for Montana
FEMA announced that federal disaster assistance has been made available to the state of Montana to supplement state, local and tribal recovery efforts in the areas affected by flooding from June 1-8, 2023. The President’s action makes public assistance available to state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for…
FEMA: Nearly $2 Billion in Available Funding Announced to Increase Climate Resilience Nationwide
Today, alongside the Department of Homeland Security and the White House, FEMA announced that nearly $2 billion dollars will be available for two resilience grant programs designed to help communities mitigate against climate change and increasingly frequent and severe weather events. FEMA’s Building Resilient Infrastructure and Communities (BRIC) annual grant program has made $1 billion available to fund projects…
HUD: $212 Million Funding Opportunity Announced to Expand Affordable Housing Options for Persons with Disabilities
Funding provides capital to produce new or rehabilitate existing housing along with project rental assistance to support very-low and extremely low income-persons with disabilities The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing announced today that $212 million in funding is available to expand the supply of affordable housing and supportive services…
Joint Statement Issued Cautioning that Financial Institutions May Not Use Immigration Status to Illegally Discriminate Against Credit Applicants
Borrowers report being denied loans because of their immigration status The Consumer Financial Protection Bureau (CFPB) and Justice Department today issued a joint statement that reminds financial institutions that all credit applicants are protected from discrimination on the basis of their national origin, race, and other characteristics covered by the Equal Credit Opportunity Act, regardless…
Census Bureau: Household Pulse Survey Phase 3.10 Monthly Data Released
The U.S. Census Bureau today released new data from phase 3.10 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to inform federal and state response and recovery planning by providing near real-time data on the social and economic effects of the COVID-19 pandemic and…