FDIC: CRA Examination Schedules for First Quarter 2024 and Second Quarter 2024 Issued
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first quarter 2024 and second quarter 2024. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. …
FHFA: Deemed-Issuance Ratio for Uniform Mortgage-Backed Security Announced for 2024
Ratio remains at 53 Percent Fannie Mae and 47 Percent Freddie Mac The Federal Housing Finance Agency (FHFA) today announced the deemed-issuance ratio for the 2024 calendar year in accordance with Internal Revenue Service (IRS) guidelines on the trading of the Uniform Mortgage-Backed Security (UMBS). The deemed-issuance-ratio will be used for diversification reporting on the bonds ultimately…
OCC: First and Second Quarter 2024 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first and second quarters of 2024. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should…
HUD: FHA Proposes Enhancements to Make Home Rehabilitation Program More Effective for Homebuyers and Homeowners
Proposed changes to the 203(k) Rehabilitation Mortgage Insurance Program are designed to expand FHA-insured mortgage financing for families purchasing or refinancing single family homes in need of repair or rehabilitation. Today, the Federal Housing Administration (FHA) posted proposed changes to its 203(k) Rehabilitation Mortgage Insurance Program for industry feedback. The 203(k) program is designed to help borrowers…
Federal Reserve: Michal Barr Delivers “Serving Indian Country with the Modernized Community Reinvestment Act” Speech
Vice Chair for Supervision Michael S. Barr At the Modernized Community Reinvestment Act and Indian Country, the Federal Reserve Bank of Minneapolis, Minneapolis, Minnesota (virtual) “Good afternoon. I’m grateful for the opportunity to join you today as we discuss the updated Community Reinvestment Act regulations and what they mean for Indian Country. The Community Reinvestment…
FHFA: U.S. House Prices Rise 5.5 Percent Over the Last Year; Up 2.1 Percent from the Second Quarter 2023
U.S. house prices rose 5.5 percent between the third quarter of 2022 and the third quarter of 2023, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up 2.1 percent compared to the second quarter of 2023. FHFA’s seasonally adjusted monthly index for September was up 0.6 percent from August. “U.S. house price growth…
FHFA: Conforming Loan Limit Values for 2024 Announced
Baseline Conforming Loan Limit Value Will Increase to $766,550 The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac (the Enterprises) will acquire in 2024. In most of the United States, the 2024 CLL value for one-unit properties will be $766,550, an increase of…
HUD and Census Bureau: New Residential Sales Report for October 2023 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 October 2023: New Home Sales Sales of new single‐family houses in October 2023 were at a seasonally adjusted annual rate of 679,000, according to estimates released jointly today by the U.S. Census…
HUD: $25 Million Awarded to Public Housing Agencies to Expand More Housing Choices to Families
Awards to Public Housing Agencies will provide support to families with Housing Choice Vouchers to maximize housing and neighborhood choice. Today, the U.S. Department of Housing and Urban Development (HUD) announced $25 million in Housing Mobility-Related Services awards to 7 Public Housing Agencies (PHAs) across the country. These funds are designed to expand housing choices…
FEMA: President Biden Approves Major Disaster Declaration for California
FEMA announced that federal disaster assistance has been made available to the state of California to supplement recovery efforts in the areas affected by Tropical Storm Hilary, Aug. 19-21, 2023. Public Assistance federal funding is available to the state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency…