HUD: Nearly $120 Million Awarded to Tribes Across the Nation for Economic and Housing Development
111 projects will support economic and housing development for Native American Families This week, the U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson announced nearly $120 million in Indian Community Development Block Grant (ICDBG) awards to Tribes across the Nation. The ICDBG program provides funding to use in developing American Indian and Alaska Native…
HUD: FHA Announces Temporary Guidance for Insuring Single Family Homes in Forebearance
Temporary policy provides FHA insurance safeguards for borrowers and lenders Today, the Federal Housing Administration (FHA) announced a new, temporary policy that provides guidance for lenders to obtain FHA insurance endorsements on mortgages where the borrower has requested or obtained a COVID-19 forbearance. This policy will ensure that the safeguards of the FHA program continue to work…
OCC: Comments Requested on Proposed Rules to Update Activities and Operations and Digitial Activities
The Office of the Comptroller of the Currency (OCC) today released two issuances for public comment. The OCC published a Notice of Proposed Rulemaking (NPR) for public comment to update its rules for national bank and federal savings association activities and operations. The agency also released an Advance Notice of Proposed Rulemaking (ANPR) seeking comment…
CFPB: Bureau Takes Steps to Facilitate LIBOR Transition
The Consumer Financial Protection Bureau (Bureau) today took steps to facilitate the transition away from LIBOR for consumers and regulated entities. The Bureau released an updated Consumer Handbook on Adjustable Rate Mortgages (CHARM) to help consumers better understand adjustable rate mortgage loan products. The Bureau also released a Notice of Proposed Rulemaking (NPRM) concerning the…
HUD and Census Bureau: Findings of Rental Housing Finance Survey Released
Survey Finds Nearly Half of Rental Units are in Rental Properties with Four or Fewer Units Of the 48.2 million rental housing units, nearly 49 percent are located in rental properties of one to four units, according to the latest Rental Housing Finance Survey (RHFS) data released today by the U.S. Department of Housing and Urban Development…
FHFA: Final Rule Published on the FHLBank’s Housing Goals
Rule provides greater availability of mortgage financing for underserved borrowers To help underserved borrowers, the Federal Housing Finance Agency (FHFA) today sent to the Federal Register for publication a final rule on the Federal Home Loan Banks’ (FHLBanks) Housing Goals. The new goals take effect in 2021 and enforcement of the rule will be phased…
FDIC: Annual Summary of Deposit Survey Begins
Summary: The Summary of Deposits (SOD) is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices are required to submit the survey; institutions with only a main office are exempt. All survey responses are required by July…
CFPB: Consumer Actions for Relief from Credit Card Issuers During the Pandemic
The Consumer Financial Protection Bureau (Bureau) today took action to help consumers receive relief during the pandemic more quickly from their credit card issuer. Regulation Z requires that creditors provide written disclosures to consumers for account-opening and temporary rate or fee reduction. During the pandemic, consumers may seek to open a new account or request…
Census Bureau: New Report on Veterans Released
A new report released today by the U.S. Census Bureau shows that while the overall population of veterans is declining, the number of female veterans is on the rise and Post 9-11 veterans have the highest rate of service-connected disability compared to any other group of veterans. The report, Those Who Served: America’s Veterans From World…