HUD: Thirty Public Housing Agencies Join Expansion of the Moving to Work Demonstration Program
HUD Invites Agencies to Apply to The MTW Demonstration Program to Study Work Requirements And Landlord Incentives Today, HUD announced the first thirty public housing agencies to join a small group of innovative agencies as part of the Moving to Work (MTW) demonstration program. Additionally, HUD is also inviting agencies interested in participating in this…
HUD: Find Shelter Tool Introduced to Help Community Members Locate Service Providers and Local Resources
Online tool provides mapping and contact information for local food, shelter, clothing, and healthcare resources U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today introduced the Find Shelter tool, a new resource developed by the Department to help individuals and families in need to locate nearby resources. Specifically, users can search for facilities…
SBA: Recipients Announced of Tibbetts Awards for Demonstrating Significant Economic and Social Impact
Today, the U.S. Small Business Administration announced 38 companies, seven organizations and 14 individuals as the winners of the prestigious Tibbetts Award for their accomplishments in creating cutting-edge technologies. The Tibbetts Awards, named after Roland Tibbetts, the founder of the SBIR Program, honors these awardees for the exceptional successes they achieved through SBA’s Small Business Innovation Research (SBIR) and Small Business…
FHFA: COVID-Related Loan Flexibilites Extended Until February 28, 2021
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until February 28, 2021. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on January 31, 2021. Extended flexibilities include: Alternative appraisals on…
FHFA and Treasury: Fannie Mae and Freddie Mac Allowed to Continue to Retain Earnings
The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) today announced amendments to the Preferred Stock Purchase Agreements (PSPAs). The amendments allow Fannie Mae and Freddie Mac (the Enterprises) to continue to retain earnings until they satisfy the requirements of the 2020 Enterprise capital rule. “Today’s agreement that allows Fannie Mae…
OCC: Final Rule Requiring Large Banks to Provide Fair Access to Bank Services, Capital, and Credit Effective April 1, 2021
The Office of the Comptroller of the Currency (OCC) today released its finalized rule to ensure fair access to banking services provided by large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations. The rule codifies more than a decade of OCC guidance stating that banks should conduct risk assessment…
CFPB: NCUA and CFPB Sign Memorandum of Understanding Regarding Large Credit Union Supervision
The Consumer Financial Protection Bureau (Bureau) and the National Credit Union Administration (NCUA) announced a Memorandum of Understanding (MOU) agreement to improve coordination between the agencies related to the consumer protection supervision of credit unions over $10 billion dollars in assets. “Today’s MOU is an important step towards improving our existing framework and increasing opportunities…
ABA: Bank Economists See Strengthening Economic Recovery Ahead
The U.S economy will grow at a robust pace of about 4% over the four quarters of 2021, the strongest growth in nearly two decades after the deepest recession since the Great Depression, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. However, the economy remains in the grip of the…
FEMA: President Trump Approves Major Disaster Declaration for Utah
FEMA announced that federal disaster assistance has been made available to the state of Utah to supplement state and local recovery efforts in the areas affected by straight-line winds Sept. 7 – 8, 2020. The President’s action makes federal funding available to the state and local governments and certain private nonprofit organizations on a cost-sharing…
FEMA: President Trump Approves Major Disaster Declaration for Georgia
Yesterday, FEMA announced federal disaster assistance is available to the state of Georgia to supplement state and local recovery efforts in the areas affected by Tropical Storm Zeta on Oct. 29, 2020. Federal funding is available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and…