CFPB: Consumer Complaint Bulletin Highlights Consumers’ Difficulties During Pandemic
Spotty Responses by Companies Undermine COVID-19 Consumer Relief Related to Evictions, Economic Income Payments, and Student Loans The Consumer Financial Protection Bureau (CFPB) released a new complaint bulletin covering several areas of concern related to relief provided in response to the COVID-19 pandemic, including the Centers for Disease Control and Prevention (CDC) eviction moratorium. Some…
CFPB: As Federal Eviction Protections Come to an End, Agency Warns Landlords and Consumer Reporting Agenices to Report Rental Information Accurately
The Consumer Financial Protection Bureau (CFPB) today released an Enforcement compliance bulletin reminding landlords, consumer reporting agencies (CRAs), and others of their critical obligations to accurately report rental and eviction information. Inaccurate rental and eviction information on a tenant screening report or a credit report can unfairly block a family from safe and affordable housing….
Census Bureau: Household Pulse Survey Phase 3.1 Biweekly Data Released
The U.S. Census Bureau today released new data from phase 3.1 of the experimental Household Pulse Survey. Phase 3.1 includes substantial revisions to the questionnaire. Additional questions address the following new topics: disability, child health access, telehealth and child care. Also included are demographic questions to identify service members and military spouses, and questions to classify respondents employed…
FHFA: Use of Interest Rate Reduction Expanded to Help Borrowers with a COVID-19 Hardship Reduce Their Monthly Mortgage Payment
Changes to loan modification terms will help borrowers stay in their homes Today, the Federal Housing Finance Agency (FHFA) announced changes to loan modification terms for COVID-19 impacted borrowers with mortgages backed by Fannie Mae or Freddie Mac (the Enterprises) needing payment reduction for successful home retention. The updated terms are specifically for borrowers with…
FHFA: New and Expanded Statistical Products Announced for the National Mortgage Databse
The Federal Housing Finance Agency (FHFA) today released a set of new and expanded statistical products from the National Mortgage Database (NMDB®). FHFA expanded the national statistics for new residential mortgage originations to include monthly, quarterly, and annual series for home purchase and refinance mortgages in all major market segments. FHFA also added a new…
CDFI Fund: Application Demand for FY 2021 Round of CDFI Program and NACA Program Released
The fiscal year (FY) 2021 application round for the Community Development Financial Institutions Fund’s (CDFI Fund) Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) closed on May 3, 2021. At this time, it is expected that the Technical Assistance (TA) awards and Financial Assistance (FA) awards will be…
FEMA: COVID-19 Funeral Assistance Policy Amended
FEMA is amending the agency’s COVID-19 funeral assistance policy to assist with COVID-19 related fatalities that occurred in the early months of the pandemic. This policy change will allow applicants to submit a statement or letter from the death certificate’s certifying official, medical examiner, or coroner that attributes the death to COVID-19 fatalities that occurred…
FHFA: House Price Index Up 1.8 Percent in April; Up 15.7 Percent from Last Year
House prices rose nationwide in April, up 1.8 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 15.7 percent from April 2020 to April 2021. The previously reported 1.4 percent price change for March 2021 was revised upward to a 1.6 percent increase. For the nine census…
FHFA: New Protections Announced After COVID-19 Foreclosure and REO Eviction Moratoriums End
Servicers of Enterprise-backed mortgages will be prohibited from making most first filings for foreclosure before new CFPB rules take effect August 31 Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) servicers will not be permitted to make a first notice or filing for foreclosure that would be…
CFPB: Report Issued Highlighting Supervisory Findings of Wide-Ranging Violations of Law in 2020
Examiners found violations in areas including consumer reporting accuracy, redlining, foreclosure, and Public Service Loan Forgiveness The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting legal violations identified by the Bureau’s examinations in 2020. The report also highlights prior CFPB supervisory findings that led to public enforcement actions in 2020 resulting in more…