FHFA: Final Capital Rule Announced for Fannie Mae and Freddie Mac
Today, the Federal Housing Finance Agency (FHFA) sent to the Federal Register for publication a final rule that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac (the Enterprises). The final rule makes certain changes to the proposed rule published in the Federal Register on June 30, 2020 (proposed rule).[1] That proposed rule…
FDIC: Financial Advisors Sought to Establish New “Mission-Driven Bank Fund” to Support FDIC-Insured Minority Banks and CDFIs
The Federal Deposit Insurance Corporation (FDIC) today announced a competition to choose one or more experienced financial advisors to support the development of a new Mission-Driven Bank Fund. The Fund will provide a vehicle for private sector and philanthropic investment in FDIC-insured Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs). The selected financial advisor(s)…
HUD: Over $80 Million in Targeted Funding for Coronavirus Relief Announced
Mainstream Vouchers aid non-elderly populations with disabilities in response to, and recovery from, COVID-19 The U.S. Department of Housing and Urban Development (HUD) today made $86.85 million available to public housing agencies (PHAs) in the form of Mainstream funding vouchersto assist non-elderly populations impacted by Coronavirus. Mainstream Vouchers are administered using the same rules as other…
HUD: New Foster Youth Housing Vouchers Announced in 24 States
More than 1,000 Former Foster Youth Are Paving Their Own Way with a FYI Voucher U.S. Housing and Urban Development Secretary Ben Carson today announced $1.9 million for 235 former foster youth in the most recent round of grants for HUD’s Foster Youth to Independence (FYI) Initiative. Forty-three Public Housing Authorities (PHAs) in 24 states…
FHFA: 2021 Multifamily Loan Purchase Caps for Fannie Mae and Freddie Mac Announced
50 Percent of Cap Must be Mission-driven, Affordable Housing and Manufactured Housing Community Tenant Protections Added The Federal Housing Finance Agency (FHFA) today announced that the 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise. The cap structure allows the Enterprises to offer a…
OCC: Statement on the President’s Intent to Nominate Brian P. Brooks to Serve as Comptroller of the Currency
Acting Comptroller of the Currency Brian P. Brooks released the following statement upon the announcement that President Donald J. Trump intends to nominate him to serve as the 32nd Comptroller of the Currency. It is a great honor to have President Donald J. Trump announce his intent to nominate me to serve our nation as the…
ABA: Farmer Mac and ABA Joint Ag Lender Survey Reveals Top Concerns in an Uncertain Year
As the farm economy continues to work through a prolonged downturn in the midst of an unparalleled, global economic dislocation, ag lenders remain focused on credit quality, according to the Fall 2020 Agricultural Lender Survey report produced jointly by the American Bankers Association and the Federal Agricultural Mortgage Corporation, more commonly known as Farmer Mac. When it…
SBA: Election of New Chair and Vice-Chair on the Small Business Development Center Advisory Board Announced
SBA welcomes Bertica Cabrera Morris as Board Chair and Lea Marquez Peterson as Vice-Chair on the SBDC Advisory Board. The U.S. Small Business Administration is pleased to welcome the new Chair and Vice-Chair to the National Small Business Development Center (SBDC) Advisory Board. Bertica Cabrera Morris will serve as Board Chair, and Lea Marquez Peterson will serve…
SBA: Small Business Size Standard Revisions Proposed in Three Industrial Sectors
Public Comments Due January 12; Change Targeted at Increasing Eligiblity for Contracting and Loan Programs The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in three North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA’s loan and contracting…
FHFA: FY 2020 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its annual Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2020. For the twelfth consecutive year, FHFA received an unmodified audit opinion on its…