HUD: FHA Assistance Options Expanded for Borrowers Struggling to Make Mortgage Payments
Updated loss mitigation options will help borrowers struggling with their mortgage payments to avoid foreclosure. Today, the Federal Housing Administration (FHA) is announcing that it is expanding and enhancing its set of loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages. The enhancements extend FHA’s highly effective COVID-19 loss mitigation…
FEMA: San Mateo County Added to California Major Disaster Declaration
San Mateo County has been added to the major disaster declaration for California’s severe storms and flooding, meaning residents who had damage or losses from the storms that began Dec. 27, 2022, may now apply for FEMA disaster assistance. The declaration allows FEMA to provide direct support to individuals and households in nine counties: Calaveras, Merced, Monterey,…
HUD: Loan Guarantee Announced for Laredo, TX Affordable Housing Rehabilitation Project
Today, the U.S. Department of Housing and Urban Development (HUD) announced a $4.1 million loan guarantee to the City of Laredo, Texas. The loan guarantee, offered through the Section 108 Loan Guarantee Program (Section 108), will be used to finance the Southern Hotel Affordable Housing Rehabilitation Project. The project will rehabilitate an existing historical building…
HUD: $15 Million Loan Guarantee Announced for Cleveland, OH Affordable Housing Rehabilitation Project
Today, the U.S. Department of Housing and Urban Development (HUD) announced a $15 million loan guarantee to the City of Cleveland, Ohio. The loan guarantee, offered through the Section 108 Loan Guarantee Program (Section 108), will be used to finance the construction of the Centennial Project in downtown Cleveland. Cleveland will use the Section 108…
HUD and Census Bureau: New Residential Sales Report for December 2022 Released
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for December 2022: New Home SalesSales of new single‐family houses in December 2022 were at a seasonally adjusted annual rate of 616,000, according to estimates released jointly by the U.S. Census Bureau and…
FRB: Federal Reserve Board Policy Statement Issued to Promote a Level Playing Field for All Banks with a Federal Supervisor Regardless of Deposit Insurance Status
The Federal Reserve Board on Friday issued a policy statement to promote a level playing field for all banks with a federal supervisor, regardless of deposit insurance status. The statement makes clear that uninsured and insured banks supervised by the Board will be subject to the same limitations on activities, including novel banking activities, such…
OCC: Earned Income Tax Credit Awareness Day Promoted
To make more eligible working families aware of the benefits of the Earned Income Tax Credit (EITC), the Office of the Comptroller of the Currency is promoting EITC Awareness Day on January 27. The EITC is a refundable federal income tax credit for low- to moderate-income households. “The Earned Income Tax Credit is a valuable program that…
FEMA: Nearly $422 Million Invested to Renovate Public Housing Complexes in Recovery from Hurricane Maria
The Federal Emergency Management Agency (FEMA) recently approved about $422 million to restore and renovate 37 residential properties belonging to the Public Housing Administration (PHA) due to damage caused by Hurricane María. These works will benefit over 5,400 families throughout the island. As part of the agency’s commitment to help Puerto Rico by mitigating future…
FEMA: Greene, Sumter and Tallapoosa Counties Added to Alabama Major Disaster Declaration
Greene, Sumter and Tallapoosa counties are now eligible for FEMA assistance after the Jan. 12 severe storms, straight-line winds and tornadoes in Alabama. Individuals and households in Greene, Sumter and Tallapoosa counties can apply for FEMA Individual Assistance, which may include temporary housing assistance, basic home repairs and certain other uninsured disaster-related needs. These counties join Autauga, Coosa, Dallas, Elmore,…
HUD: Over $116 Million Announced to Public Housing Agencies for the Family Self Sufficiency Program
2022 Funding Helps HUD-Assisted Families Build Assets, Increase Stability The U.S. Department of Housing and Urban Development (HUD) today announced over $109 million to 682 Public Housing Agencies (PHAs)for the 2022 Renewal Family Self Sufficiency (FSS) Program and an additional $6 million to 32 PHAs and 38 Project Based Rental Assistance (PBRA) owners for the…