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 state, tribal and eligible local…
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 can use the Center to…
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 performance, both during and after…
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 in December. The average interest…
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 the predictability of cash flows…
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 days before the beginning of…
OCC: Second and Third Quarter 2019 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second and third quarters of 2019. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA, and suggests that comments be…
ABA: Indiana Teen Named Grand Prize Winner of National “Lights, Camera, Save!” Video Contest
Luke Wiley, a 17-year-old student from Greenwood, Ind., is the national winner of the American Bankers Association Foundation’s Lights, Camera, Save! video contest. Lights, Camera, Save!, which launched in 2010, is a unique national competition that encourages kids to use video to communicate the value of saving and motivate their peers. This year, 131 banks…
FEMA: President Trump Amends Disaster Declaration for the Commonwealth of the Northern Mariana Islands
FEMA announced that President Donald J. Trump made additional disaster assistance available to the Commonwealth of the Northern Mariana Islands by authorizing an increase in federal funding for certain eligible costs as a result of Super Typhoon Yutu. The President’s action authorizes federal cost share for all categories of Public Assistance, Hazard Mitigation and the…
SBA: Emerging Leaders Initiative to Help Growing Entrepreneurs Opens 2019 Recruitment
The U.S. Small Business Administration (SBA) announced the launch of the 2019 Emerging Leaders Initiative for executives of small businesses poised for growth in emerging markets. Local area recruitment for the 2019 training cycle is currently ongoing at designated SBA District Offices. Interested small business owners can learn more regarding eligibility, how to apply, class…