EDA: Last Week, Nearly $15 Million in American Rescue Plan Funds Invested
Last week, the following grants were made under the American Rescue Plan Funds program and the CARES Act Recovery Assistance program: July 12, 2022 – U.S. Department of Commerce Invests $4.7 Million in American Rescue Plan Funds to Establish a Regional BMX Facility and Support Tourism in Morgantown, West Virginia July 12, 2022 – U.S. Department of…
ABA: Foundation Accepting Donations to Support Montana Flood Relief Efforts
Acting on a request from the Montana Bankers Association, the ABA Foundation will activate its online disaster relief fundraising platform to support relief efforts in the state after historic Yellowstone River flooding The American Bankers Association Foundation today announced it will start collecting tax-exempt contributions through its Disaster Relief Program to help aid relief efforts…
HUD: $10.4 Million Funding Opportunity Announced for Rehabilitation of Low-Income and Disabled Veterans’ Homes
U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge and U.S. Department of Veterans Affairs (VA) Secretary Denis McDonough today announced the availability of $10.4 million through the Veterans Housing Rehabilitation and Modification Pilot Program (VHRMP) for the rehabilitation of the homes of Veterans with low-incomes and disabilities. “Those who have served…
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 December 31, 2021. Borrower outcomes reflect NPLs sold through June 30, 2021. The sale of NPLs…
FEMA: President Biden Approves Major Disaster Declaration for Minnesota
FEMA announced that federal disaster assistance has been made available to the state of Minnesota to supplement state, tribal and local recovery efforts in the areas affected by the severe storms, straight-line winds, tornadoes and flooding May 8-13, 2022. Public Assistance federal funding is available to the state, tribal and eligible local governments and certain private…
HUD: FHA Expands Mortgage Eligiblity for Borrowers Previously Affected by COVID-19
Updated guidance issued today provides new flexibility for lenders when calculating “effective income” for borrowers with previous employment gaps or loss of income due to a COVID-19 economic event. The Federal Housing Administration (FHA) announced on Thursday new flexibility for lenders when qualifying borrowers who experienced previous employment gaps or loss of income due to…
HUD: 100th Community Joins “House America” Homelessness Initiative
“Today we are marking a major milestone for our House America initiative,” says Secretary Fudge, announcing Santa Clara County, California as 100th House America community U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge today announced Santa Clara County, California as the 100th community to join the Administration’s House America initiative to tackle homelessness…
CFPB: Advisory Issued to Protect Privacy When Companies Compile Personal Data
Advisory affirms that “permissible purposes” are required to use and share credit reports and background reports Today, the Consumer Financial Protection Bureau (CFPB) issued a legal interpretation to ensure that companies that use and share credit reports and background reports have a permissible purpose under the Fair Credit Reporting Act. The CFPB’s new advisory opinion…
HUD: $26 Million Rental Assistance Demonstration Conversion Closed with Philadelphia Housing Authority to Create 58 Newly Constructed Affordable Homes
New affordable rental homes are part of redevelopment plan for Philadelphia’s Sharswood/Blumberg community The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing today announced that it has closed a Rental Assistance Demonstration (RAD) transaction with the Philadelphia Housing Authority (PHA) to build 58 newly constructed affordable rental homes in the Sharswood/Blumberg community….