FEMA: President Trump Approves Major Disaster Declaration for Alabama

The Federal Emergency Management Agency announced today that federal disaster assistance has been made available to the state of Alabama to supplement state and local recovery efforts in the areas affected by severe storms, straight-line winds, and tornadoes on March 3, 2019. The President’s action makes federal funding available to […]

FDIC: List of Banks Examined for CRA Compliance Issued

The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in December 2018. The CRA is a 1977 law intended to encourage insured banks and […]

OCC: CRA Evaluations for 13 National Banks and Federal Savings Associations Released

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of February 1, 2019 through February 28, 2019.  The list contains only national banks, federal savings associations, and insured federal branches of foreign banks […]

FEMA: President Trump Approves Major Disaster Declaration for Washington

FEMA announced today that federal disaster assistance has been made available to the state of Washington to supplement state, tribal and local recovery efforts in the areas affected by severe winter storms, straight-line winds, flooding, landslides, mudslides, and a tornado Dec. 10-Dec. 24, 2018. Federal funding is available to the […]

FDIC: New Resources Unveiled for Consumers During National Consumer Protection Week 2019

In observance of National Consumer Protection Week (NCPW), March 3–9, the Federal Deposit Insurance Corporation (FDIC) today unveiled new resources to help consumers understand their rights and make well-informed decisions about money. The FDIC has added a new, online Information and Support Center to the agency’s existing educational resources. Consumers […]

CFPB: Report Released on First-Time Homebuying Servicemembers

Today the Consumer Financial Protection Bureau (CFPB) released a report focusing on mortgages made to first-time homebuyers who are serving in the armed forces or are veterans. The Bureau’s report is the first time researchers have been able to provide a description and analysis of servicemembers’ mortgage choices and mortgage […]

FHFA: Index Shows Mortgage Rates Decreased in January 2019

Nationally, interest rates on conventional purchase-money mortgages decreased from December to January, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.60 percent for loans closed in late January, down 23 basis points from 4.83 percent […]

FHFA: Final Rule Issued on Uniform Mortgage-Backed Security

The Federal Housing Finance Agency (FHFA) has issued a final rule that requires Fannie Mae and Freddie Mac (the Enterprises) to align programs, policies, and practices that affect the cash flows of “To-Be-Announced” (TBA)-eligible Mortgage-Backed Securities (MBS).  The issuance of the final rule is a major step forward, significantly improving […]

FDIC: CRA Examination Schedules for Second Quarter 2019 and Third Quarter 2019 Issued

The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second quarter of 2019 and third quarter of 2019. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 […]