HUD: $10 Million in “Sweat Equity” Grants Announced
SHOP grant funding calls for the use of elbow grease to help 535 families become homeowners The U.S. Department of Housing and Urban Development (HUD) today awarded $10 million in “sweat equity” grants to four non-profit self-help housing organizations which will create at least 535 affordable homes for hard-working, low-income families and individuals. Funded through HUD’s…
FHFA: Fannie Mae and Freddie Mac Refinance Volume Down in First Quarter 2018 as Mortgage Rates Rise
The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 356,003 refinances in the first quarter of 2018, compared with 446,295 in the fourth quarter of 2017. FHFA’s first quarter Refinance Report also shows that 4,139 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP…
Federal Reserve: Fed Notes – Can More Housing Supply Solve the Affordablilty Crisis? Evidence from a Neighborhood Choice Model
Can More Housing Supply Solve the Affordability Crisis? Evidence from a Neighborhood Choice Model (PDF) Elliot Anenberg and Edward Kung Abstract: We estimate a neighborhood choice model using 2014 American Community Survey data to investigate the degree to which new housing supply can improve housing affordability. In the model, equilibrium rental rates are determined so…
SBA: Partnership Announced with Veterans Affairs’ Vocational Rehabilitation and Employment Program
The U.S. Small Business Administration has entered into an agreement with the U.S. Department of Veterans Affairs, through its Vocational Rehabilitation and Employment program. The partnership will give veterans access to self-employment assistance from the SBA, its resource partners, and U.S. Export Assistance Centers. The VA and SBA will work together to prepare veterans, service-disabled…
CFPB: What to Know if You Are Facing Foreclosure after a Natural Disaster
Many people are still suffering the consequences of natural disasters. For example, in 2017 there was Hurricane María in Puerto Rico, Hurricane Harvey in Texas, Hurricane Irma in Florida, and the devastating wildfires in California. Even after immediate needs like shelter and food are met, financial hardships from a disaster can last for months and…
ABA: 6 Smart Money Moves for New College Graduates
More than 70 percent of college graduates began their career owing more than $37,000 in student loans in 2017. Considering the additional living expenses they’ll soon face, new college graduates would be wise to focus on their financial future right now, says the American Bankers Association. ABA has highlighted six smart financial decisions college graduates…
HUD: New “HUD Strong Families” Initiative Launched
Effort helps strengthen family ties while promoting economic empowerment, educational opportunities, and health resourcese WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced it will launch HUD Strong Families, a new effort in coordination with Public Housing Authorities (PHAs), federal partners, and service organizations to support families living in HUD-assisted housing…
HUD: Department Seeks Public Comment on Disparate Impact Regulation
The U.S. Department of Housing and Urban Development (HUD) today announced that it will formally seek the public’s comment on whether its 2013 Disparate Impact Regulation is consistent with the 2015 U.S. Supreme Court ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. “HUD remains committed to making sure housing-related…
CFPB: Spring 2018 Rulemaking Agenda Released
The Bureau’s general purpose, as specified in section 1021 of the Dodd-Frank Act, is to implement and enforce federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for consumer financial products and services are fair, transparent, and competitive….
SBA: Funding Awarded for 22 Veterans Business Outreach Centers
The U.S. Small Business Administration this week announced the awarding of $6.6 million in funding to 22 organizations to provide training and counseling to current and aspiring veteran small business owners as a Veterans Business Outreach Center (VBOC). The funding opportunity, offered by SBA’s Office of Veterans Business Development, is a one-year initial award with…