ABA: Report Shows Credit Card Trends in Second Quarter 2021 Suggest Strong Recovery
Credit conditions in the second quarter point to a strong recovery from last year’s recession as U.S. consumer spending continued to expand, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor released today. Monthly purchase volumes increased sharply from the first quarter, surpassing pre-pandemic numbers, while credit card debt as a share…
HUD: $3.6 Million Awarded for Neighborhood Revitalization Plans in Eight Communities
The U.S. Department of Housing and Urban Development (HUD) on Monday announced $3.6 million has been awarded to eight communities to support comprehensive neighborhood revitalization plans to redevelop severely distressed HUD-assisted housing, improve outcomes for residents, and bring new amenities to neighborhoods. HUD has named Annapolis, Maryland; Augusta, Georgia; Brownsville, Texas; Jackson, Michigan; Las Vegas,…
FHFA: Latest Report on Non-Performing Loan Sales Released
The Federal Housing Finance Agency (FHFA) today released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes sales information about NPLs sold through June 30, 2021. Borrower outcomes reflect NPLs reported through June 30, 2021 and sold through December 31,…
SBA: Guidance Announced Regarding Applicant Deadlines for COVID Economic Injury Disaster Loan Program
Agency Strongly Encourages Submission of Supplemental Advance Applications by December 10; All Applications Due by December 31 Today, the U.S. Small Business Administration (SBA) announced updated guidance for COVID Economic Injury Disaster Loan (EIDL) program applicants to better serve small business owners in need, while funding remains available. Since its inception, the COVID EIDL program, a federal…
EDA: $1.1 Million in CARES Act Recovery Assistance Invested to Develop Local Food Supply Chains and Diversify the Regional Economy in Philadelphia, PA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million CARES Act Recovery Assistance grant to the Board of Control for Southern Regional Education to develop local food supply chains in Philadelphia, Pennsylvania. This grant will facilitate the immediate development of locally accessible food…
EDA: $500,000 in CARES Act Recovery Assistance Invested to Improve Broadband Access in Medina County, TX
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 CARES Act Recovery Assistance grant to the county of Medina, Texas, to improve broadband access. The EDA grant will support local business and community needs by providing broadband infrastructure. The project will increase high-speed internet access in rural Medina County to…
HUD: Agency Climate Action Plan Released
As part of the Biden-Harris Administration’s whole-of-government approach to confronting the climate crisis, the U.S. Department of Housing and Urban Development (HUD) released its Climate Action Plan, which details a comprehensive strategy to reduce the agency’s energy and carbon footprint and put our nation’s communities on the path to building more equitable, efficient, and sustainable housing infrastructure….
FHFA: 2022 Scorecard for Fannie Mae, Freddie Mac and Common Securitization Solutions Released
Today, the Federal Housing Finance Agency (FHFA) released the 2022 Scorecard for Fannie Mae, Freddie Mac (the Enterprises), and Common Securitization Solutions, LLC (CSS). The purpose of the 2022 Scorecard is to hold the Enterprises and CSS accountable for fulfilling their core mission requirements by promoting sustainable and equitable access to affordable housing and operating…
HUD: Formation of Tribal Intergovernmental Advisory Committee Announced
First-of-its-kind committee will offer counsel on specific housing and infrastructure needs for Indian Country Today, the U.S. Department of Housing and Urban Development (HUD) announced the formation of the Tribal Intergovernmental Advisory Committee (TIAC), as part of the Biden-Harris Administrations commitment to engaging with Tribal Nations. The announcement comes as President Biden hosts the first…
CFPB: Input Requested on Detecting Discrimination in Mortgage Lending
Insights gathered will support a fairer mortgage market Today, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to seek input on rules implementing the Home Mortgage Disclosure Act (HMDA). The CFPB plans to review recent changes to the rule and evaluate their effectiveness. This evaluation will strengthen the CFPB’s ability to…