CFPB: Annual Report of 2021 Mortgage Market Activity Reveals End to Refinancing Boom and Increase in Home Purchase Loans
Asian, Black, and Hispanic white shares of home purchase loans increased Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on residential mortgage lending activity and trends for 2021. The report’s data are submitted by thousands of the nation’s lending institutions under the Home Mortgage Disclosure Act (HMDA). The report shows a shift…
ABA: Seven Banks Win ABA Foundation’s 2022 Community Commitment Awards
The American Bankers Association Foundation named seven banks as 2022 Community Commitment Award winners. The annual awards recognize banks for extraordinary corporate social responsibility efforts in seven specific categories ranging from affordable housing to economic inclusion. The winners will be recognized at ABA’s Annual Convention in Austin, Texas on Oct. 4. The selection committee, made up of independent,…
ABA: D.C. Area Banker Lola Pol Wins ABA Foundation Distinguished Service Award
The ABA Foundation has named Lola Pol, branch manager for Capital Bank NA in Rockville, Md., the winner of its 2022 George Bailey Distinguished Service Award for her commitment to community lending and helping first-time, low-to-moderate income homebuyers achieve homeownership throughout the Washington, D.C. area. Pol will be recognized on Oct. 4 at ABA’s Annual…
FEMA: President Biden Approves Emergency Declaration for Puerto Rico
FEMA announced that federal emergency aid has been made available to the Commonwealth of Puerto Rico to supplement the Commonwealth’s response efforts due to emergency conditions resulting from Tropical Storm Fiona beginning Sept. 17 and continuing. The President’s action authorizes FEMA to coordinate all disaster relief efforts to alleviate the hardship and suffering caused by…
FEMA: President Biden Approves Major Disaster Declaration for American Samoa
FEMA announced that federal disaster assistance has been made available to the territory of American Samoa to supplement territorial and local recovery efforts in the areas affected by high surf, high winds and flooding July 12-15, 2022. Public assistance federal funding is available to the territory, eligible local governments and certain private nonprofit organizations on a…
HUD: $1.4 Million Awarded for Research on Renter Outcomes During Disaster Recovery
The U.S. Department of Housing and Urban Development (HUD) today announced the awarding of $1.4 million in funding for research on outcomes of renter households during various phases of disaster recovery. Two awardees, The Urban Institute and Horne, LLP, will receive the funds under the (FY2022) Notice of Funding Opportunity (NOFO). “Disasters often result in…
HUD: Updated Public Housing Agency Disaster Readiness, Response and Recovery Guidebook Released
HUD Deputy Secretary Todman Announces Release of Updated Guidebook During Visit to Mixed-Income Housing Site in Miami, FL: It’s Critical that Public Housing Agencies Have the “Resources and Tools to Take a Proactive Approach to Protect Their Properties and the Safety and Well-Being of Residents” Release of Updated Guidebook Coincides with National Preparedness Month Today,…
FDIC: Results of Summary of Deposits Annual Survey Released
The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2022. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 79,000 domestic offices operated by more than 4,700 FDIC-insured commercial and savings banks, savings…
Congress: Congresswoman Waters Introduces Legislation to Strengthen the CRA and End Modern-Day Redlining
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services introduced H.R. 8833, the “Making Communities Stronger Through the Community Reinvestment Act.” This transformative piece of legislation is a part of Chairwoman Waters’ continuing efforts to root out discrimination in our modern-day banking system and close the racial wealth and homeownership gaps by making…
EDA: Kathi Vidal Appointed to Serve as Third Federal Co-Chair of National Advisory Council on Innovation & Entrepreneurship
Today, U.S. Secretary of Commerce Gina Raimondo announced that Kathi Vidal, Under Secretary of Commerce for Intellectual Property and Director of the U.S. Patent and Trademark Office (USPTO), has been appointed as the third Federal Co-Chair of the National Advisory Council on Innovation & Entrepreneurship (NACIE). NACIE is a federal advisory committee managed by the U.S. Economic…