FEMA: President Trump Approves Major Disaster Declaration for Michigan due to Severe Storms and Flooding

 FEMA announced that federal disaster assistance has been made available to the state of Michigan to supplement state, tribal and local recovery efforts in the areas affected by severe storms and flooding from May 16-22, 2020. The President’s action makes federal funding available to affected individuals in Arenac, Gladwin, Iosco, […]

FHFA: COVID-Related Loan Processing Flexibilities Extended Through August

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until August 31, 2020 to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on July 31, 2020. Extended flexibilities include: […]

Census Bureau: Weekly Household Pulse Survey Data Released

The Census Bureau today released new data from the experimental Household Pulse Survey. The Household Pulse Survey is the result of an effort by the Census Bureau and other federal statistical agencies to document temporal trends in how individuals are experiencing business curtailment and closures, stay-at-home orders, school closures, changes in […]

HUD: FHA Expands Home Retention Measures for Homeowners Financially Impacted by COVID-19

Streamlined loss mitigation options will help more homeowners avoid foreclosure   The Federal Housing Administration (FHA) today announced additional home retention measures to help homeowners with FHA-insured single family mortgages who are financially impacted by the COVID-19 pandemic to bring their mortgage current at the end of their COVID-19 forbearance. Effective immediately, mortgage […]

HUD: Eviction Prevention and Stability Toolkit Released in Latest COVID-19 Response Effort

Toolkit is the most recent effort by the Department to identify individuals who have felt the economic impact of Coronavirus and provide a range of resources to support housing stability U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced the “Eviction Prevention and Stability Toolkit” to […]

CFPB: Final Rule on Small Dollar Lending Issued

The Consumer Financial Protection Bureau today issued a final rule concerning small dollar lending in order to maintain consumer access to credit and competition in the marketplace. The final rule rescinds the mandatory underwriting provisions of the 2017 rule after re-evaluating the legal and evidentiary bases for these provisions and […]

SBA: Paycheck Protection Program Loan Data Released

The U.S. Small Business Administration, in consultation with the Treasury Department, today announced it was releasing detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP).  This disclosure covers each of the 4.9 million PPP loans that have been made. “The PPP is providing much-needed relief to […]

CFPB: Consumer Financial Protection Week Announced Including Nationwide Virtual Events Starting July 14th

Today, the Consumer Financial Protection Bureau (Bureau) announced the launch of Consumer Financial Protection Week, which will take place from July 14, 2020, through July 17, 2020. Consumer Financial Protection Week will focus on how the Bureau is protecting consumers in the financial marketplace, the issues consumers are confronting, as […]