$12.5 million in Self-Help Homeownership Opportunity (SHOP) Grants; $10 million Rural Capacity Building Grants The U.S. Department of Housing and Urban Development (HUD) today awarded $12 million in grants to support non-profit, self-help housing organizations that enable homeownership opportunities for hard-working, low-income families and individuals. Funded through HUD’s Self-Help Homeownership Opportunity […]
HUD: More Than $837 Million Announced to Improve Housing Quality and Reduce Energy Costs for Underserved Communities
New funding from Inflation Reduction Act of 2022 and $4 billion in loan commitment authority will make HUD-assisted multifamily housing more energy efficient, cut greenhouse gas emissions, and improve climate resiliency. The U.S. Department of Housing and Urban Development (HUD) today will announce the availability of new funding through the Green and […]
FDIC: Proposed Rule Issued on Special Assessment Pursuant to Systemic Risk Determination
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking, which would implement a special assessment to recover the cost associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take […]
FEMA: President Biden Approves Major Disaster Declaration for Kentucky
FEMA announced that federal disaster assistance has been made available to the Commonwealth of Kentucky to supplement recovery efforts in the areas affected by severe storms, straight-line winds, flooding, landslides and mudslides Feb. 15-20, 2023. Public Assistance federal funding is available to the commonwealth, eligible local governments and certain private nonprofit […]
SBA: Second Annual America’s Seed Fund Week Connecting Entrepreneurs to Early-Stage R&D Funding Announced
America’s Seed Fund Week brings together tech startups and America’s Seed Fund agencies and resources to support economic growth Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, announced the 2nd annual America’s Seed Fund Week. Taking place from […]
HUD: Standards and Inspection Regulations Strengthened for Evaluating Conditions in HUD Assisted and Insured Housing
NSPIRE Final Rule Effective July 1 and October 1 for all HUD Rental Assistance Programs Today, the U.S. Department of Housing and Urban Development (HUD) published the Final Rule for the National Standards for the Physical Inspection of Real Estate (NSPIRE) in the Federal Register. The rule proposes a new […]
FHFA: Rescission of Enterprise Upfront Fees Based on Debt-to-Income (DTI) Ratio Announced
Agency to also issue Request for Input on the Enterprise single-family pricing framework The Federal Housing Finance Agency (FHFA) today announced that it has rescinded the upfront fees based on borrowers’ DTI ratios for loans acquired by Fannie Mae and Freddie Mac (the Enterprises). FHFA announced in March it would delay implementation […]
CFPB: Guidance Issued Regarding Reopening of Deposit Accounts
New circular addresses illegal “reopening” of deposit accounts that can hit consumers with junk fees The Consumer Financial Protection Bureau (CFPB) issued a new circular affirming that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a consumer has already closed it. […]
FEMA: Cleveland County, Oklahoma Added to FEMA Major Disaster Declaration
Cleveland County has been added to the major disaster declaration for Oklahoma’s tornadoes, straight-line wind and severe storms April 19-20. Residents who had damage or losses from the storms may now apply for FEMA disaster assistance. The federal disaster declaration now allows FEMA to provide direct support to individuals and […]
Census Bureau: New Report Released About Persistent Poverty at County and Census Tract Levels
Today the U.S. Census Bureau released a new report, “Persistent Poverty in Counties and Census Tracts.” While definitions vary, geographies are typically considered to be in persistent poverty if they maintained poverty rates of 20% or more for 30 years. The report examines county and subcounty geographies (specifically, census tracts), identifying […]