OCC: CRA Evaluations for 28 National Banks and Federal Savings Association 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 March 1, 2020 through March 31, 2020. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks […]

CFPB: Credit Reporting Guidance During COVID-19 Pandemic Issued

The Consumer Financial Protection Bureau (Bureau) today released a policy statement outlining the responsibility of credit reporting companies and furnishers during the COVID-19 pandemic. In response to the pandemic, many lenders are being flexible when it comes to consumers’ making payments. The Bureau’s statement underscores that consumers benefit if lenders […]

FEMA: President Trump Approves Major Disaster Declaration for North Dakota

FEMA announced that federal emergency aid has been made available for the state of North Dakota to supplement state, tribal and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020 and continuing. Public Assistance Federal funding is available to the […]

SBA: Public-Private Mobilization Effort to Distribution $349 Billion in Emergency Small Business Capital Begins

Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need. […]

FHFA: Loan Processing Flexibilities Authorized for Fannie Mae and Freddie Mac Customers

The Federal Housing Finance Agency (FHFA) today announced several loan processing flexibilities from Fannie Mae and Freddie Mac (The Enterprises) designed to help their customers. The flexibilities announced by the Enterprises include: Allowing desktop appraisals on new construction loans;  Allowing flexibility on demonstrating construction has been completed (alternative to the […]

FHFA: Comment Period Extended on Proposed Minimum Financial Eligibility Requirements for Seller/Services

The Federal Housing Finance Agency (FHFA) today announced a 30-day extension to the comment period for the proposed update to the minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers.   FHFA released the proposed update to the minimum financial requirements in January to further strengthen the Enterprises’ Seller/Servicer […]

EDA: $4.4 Million Invested to Support Workforce Training in Bennettsville, SC

oday, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.4 million grant to Northeastern Technical College of Cheraw, South Carolina, to establish a new workforce training center. The EDA grant, to be matched with more than $1.1 million in local investment, […]