HUD: Final Rule Published to Expand Availability of Affordable Manufactured Housing
Key step finalized today updates Manufactured Housing Construction and Safety Standards to eliminate decades-old regulatory barriers while protecting safety The U.S. Department of Housing and Urban Development published a final rule on January 12, 2021 in the Federal Register which revises the federal Manufactured Home Construction and Safety Standards Act of 1974. The final rule represents the…
SBA: 60,000 Paycheck Protection Program Loans Approved in First Week
SBA’s dedicated access to community financial institutions helped underserved small businesses Today, the U.S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for over $5 billion, between the program’s re-opening on Monday, Jan. 11, at 9 a.m. ET through to Sunday, Jan. 17. Last week,…
SBA: Rule Proposed to Eliminate Regulations that Exclude Faith-Based Organizations from Seven SBA Programs
Public Comments Due by February 18, 2021 The U.S. Small Business Administration invites public comment on a proposed rule designed to remove regulatory provisions that exclude certain faith-based organizations from seven business loan and disaster assistance programs. These programs include the Intermediary Lending Program (ILP), Business Loan programs (7(a), Microloan and 504 programs), Economic Injury Disaster Loan…
SBA: National Science and Technology Council and SBA Partner to Award $330,000 in Prizes in New Lab to Market Competition
The U.S. Small Business Administration partnered with the National Science and Technology Council’s Lab-to-Market subcommittee to award $330,000 in prizes to the winners of the new Lab-to-Market (L2M) Inclusive Innovation Ecosystem Prize Competition. The L2M prize competition recognizes the most impactful organizations, programs and ideas that support the research and development (R&D) innovation ecosystems, particularly those focused on underrepresented…
FHFA: Foreclosure and REO Eviction Moratoriums Extended Through February 28, 2021
Foreclosure moratorium applies to Enterprise-backed mortgages; eviction moratorium applies to Enterprise-owned properties Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until February 28, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The…
FHFA: RFI Issued on Climate and Natural Disaster Risk Management at Regulated Entities
The Federal Housing Finance Agency (FHFA) today issued a Request for Input (RFI) on the current and future natural disaster risk to the housing finance system and to Fannie Mae and Freddie Mac (the Enterprises) and the Federal Home Loan Banks (the FHLBanks)—collectively the regulated entities. The information that FHFA is requesting will enhance the…
FDIC: Rule on the Role of Supervisory Guidance Approved
The Federal Deposit Insurance Corporation (FDIC) approved a final rule outlining and confirming the agency’s use of supervisory guidance for regulated institutions. The final rule codifies the interagency statement on the role of supervisory guidance, as amended, issued in September 2018 to clarify the differences between regulations and guidance, and states that the Statement is…
EDA: $2 Million in Grants Awarded to Drive Innovation and Entrepreneurship through Inaugural STEM Talent Challenge
Economic Development Administration’s Program Supports Efforts of Seven Organizations in Seven States WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced the seven grant recipients of the Economic Development Administration’s (EDA) STEM Talent Challenge to boost local science, technology, engineering, and math (STEM) talent. The inaugural STEM Talent Challenge funding opportunity kicked off in August 2020 to further build STEM…
EDA: $5.98 Million Invested to Protect Businesses from Flooding in San Diego, CA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $5.98 million grant to the city of San Diego, California, to make stormwater infrastructure improvements needed to mitigate the impact of flooding on local industry. The EDA grant, to be matched with $5.98 million in local investment,…
EDA: $3.4 Million Invested to Support Manufacturing Growth in Kincheloe, MI
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3.4 million grant to the Chippewa County Economic Development Corporation, Kincheloe, Michigan, to build a manufacturing facility at Chippewa County Air/Industrial Park and expand an existing railroad spur to serve the facility. The EDA grant will be…