HUD and Census Bureau: Residential Construction Activity Report for October 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for October 2018. Building Permits: Privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,263,000. This is 0.6 percent (±2.4 percent)* below the revised…
FHFA: Final Rule Issued Amending Federal Home Loan Banks’ Affordable Housing Program Regulation
The Federal Housing Finance Agency (FHFA) has published a final rule amending its regulation for the Federal Home Loan Banks’ (FHLBanks) Affordable Housing Program (AHP). The final rule provides additional flexibility at the local level for the FHLBanks, in consultation with their Advisory Councils, to allocate their AHP funds and to design their project selection…
EDA: $749,000 Invested to Boost Workforce Training Opportunities in West Virginia
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $749,000 grant to Bridge Valley Community and Technical College of South Charleston, West Virginia, to help establish the Bridge Valley Construction, Telecommunications, and Energy Workforce Training Center, which will be located on Bridge Valley’s Montgomery campus. “Bridge Valley Community and Technical College…
Joint Release: Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans
The Bureau of Consumer Financial Protection, Federal Reserve Board of Governors, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2019 will increase from $26,000 to $26,700. The threshold amount will be effective Jan. 1, 2019, and is based…
SBA: Small Business Saturday Kicks-off in Neighborhoods across America
Annual celebration attracts more than 100 million consumers U.S. Small Business Administrator Linda McMahon is encouraging Americans to support local communities by shopping at small businesses on Saturday, November 24. Celebrated each year on the Saturday after Thanksgiving, Small Business Saturday allows consumers to make a tremendous impact in their neighborhoods by supporting a local…
CFPB: Three Ways to Enjoy the Holidays Without Going into Debt
The holidays are a time of giving, from traveling to see family and friends to shopping for gifts. For many people, all of this spending can add up quickly. During the 2017 holiday season, American credit card debt rose at the second-fastest pace in 10 years according to the Federal Reserve. You can ease some…
CDFI Fund: Update for FY 2019 CDFI Bond Guarantee Program Applicants – Applications Now Available in AMIS
The electronic applications for the fiscal year (FY) 2019 round of the CDFI Bond Guarantee Program are now available in the Community Development Financial Institutions Fund’s (CDFI Fund’s) Awards Management Information System (AMIS). In addition, the CDFI Fund has posted a PDF version of the Qualified Issuer and Guarantee applications along with an AMIS Bond…
FEMA: Additional Federal Assistance Approved for 10 Florida Counties
Ten Florida counties affected by Hurricane Michael are now eligible for federal assistance to help pay for the cost of repairing damaged public infrastructure and responding to the storm. FEMA announced that state and local government agencies, and certain private nonprofits including houses of worship, in these counties will now be eligible for assistance under…
FDIC: Banker Teleconference on November 28th to Cover FDIC 2017 National Survey of Unbanked and Underbanked Households
FIL-73-2018 Summary: The FDIC will discuss the results of its 2017 biennial National Survey of Unbanked and Underbanked Households during a teleconference scheduled for Wednesday, November 28, 2018, from 2:00 p.m. to 3:30 p.m. Eastern Time. Other topics to be discussed include economic inclusion resources pertinent to community banks, including the Money Smart for Adults…
HUD: FHA 2018 Annual Report to Congress Released
Capital Reserves remain above statutory minimum for fourth straight year The Federal Housing Administration (FHA) today released its 2018 Annual Report to Congress on the economic condition of the agency’s Mutual Mortgage Insurance Fund (MMI Fund). FHA reports that at the end of Fiscal Year (FY) 2018, the MMI Fund had a total Economic Net…