HUD: $500,000 Loan Guarantee Announced for Downey, CA to Advance Energy Efficiency Upgrades
The U.S. Department of Housing and Urban Development (HUD) today announced a $500,000 loan guarantee for the City of Downey, California for the Solar Photovoltaic and Battery Energy Storage Systems Project. The loan guarantee, offered through the Section 108 Loan Guarantee Program, will be used to help finance the installation of energy efficiency upgrades, such…
FDIC: 2022 Risk Review Published Highlighting Emerging Risks in the Banking System
The Federal Deposit Insurance Corporation (FDIC) today published its 2022 Risk Review, a comprehensive summary of emerging risks in the U.S. banking system as observed in 2021. The 2022 Risk Review expands coverage of risks from prior reports by examining operational risk to banks from cyber threats and illicit activity, and climate-related financial risks faced by…
HUD: FHA New “Green Mortgage Insurance Premium” Reductions Announced for Residential Care Facilities Meeting Industry-Recognized Green Building Certifications
Reductions of mortgage insurance premiums for “green” Section 232 Residential Care Facilities supports Administration’s environmental objectives and HUD’s Climate Action Plan. The Federal Housing Administration (FHA) announced on Wednesday, May 18 that it intends to implement significant reductions in the upfront and annual mortgage insurance premiums (MIP) it charges for most mortgage insurance categories under the Section…
FHFA: Membership in the Network of Central Banks and Supervisors for Greening the Financial System Announced
The Federal Housing Finance Agency (FHFA) today announced its membership in the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Recognizing the increasing risk to property from climate change, including severe structural damage caused by hurricanes, tornadoes, floods, droughts and wildfires, FHFA Acting Director Sandra L. Thompson issued a statement in December 2021 that…
HUD: Support for Washington D.C.’s “Solar for All” Program Announced
The U.S. Department of Housing and Urban Development (HUD) today announced its support for Washington, D.C.’s “Solar for All” program to ensure that residents of HUD-assisted properties in the District are able to access the program without experiencing an increase in their housing costs. “This opportunity highlights the many ways that HUD is ensuring an…
FDIC: Request for Comment Issued on Statement of Principles for Climate-Related Financial Risk Management for Large Financial Institutions
The Federal Deposit Insurance Corporation (FDIC) today is requesting public comment on draft principles that would provide a high-level framework for the safe and sound management of exposures to climate-related financial risks. Although all financial institutions, regardless of size, may have material exposures to climate-related financial risks, these draft principles are intended for the largest…
HUD: $3 Billion Announced to Advance Equitable Disaster Recovery and Build Climate Resilience
The U.S. Department of Housing and Urban Development (HUD) today announced the allocation of nearly $3 billion in Community Development Block Grant-Disaster Recovery (CDBG-DR) funds to help communities recover from disasters and build inclusive resilience to climate change. These allocations underscore HUD and the Biden-Harris Administration’s commitment to equitably improving the nation’s disaster recovery and…
HUD: Better Climate Challange Announced
Secretary Fudge Announces Inaugural Low Carbon Multifamily Housing Partners Today, Housing and Urban Development (HUD) Secretary Marcia L. Fudge joined Department of Energy (DOE) Secretary Jennifer M. Granholm and White House National Climate Advisor Gina McCarthy to announce the inaugural Better Climate Challenge, a private-public partnership led by DOE with over 80 American businesses and…
FDIC: Acting Chairman Gruenberg Announces FDIC Priorities for 2022 Including CRA Modernization
Federal Deposit Insurance Corporation (FDIC) Acting Chairman Martin J. Gruenberg released this morning the following statement and summary of the FDIC’s priorities for the coming year: “The FDIC’s core mission is to maintain stability and public confidence in the U.S. financial system. The FDIC carries out this mission through its responsibilities for deposit insurance, banking…
HUD: Access to More Than $2 Billion in Federal Funds Opened for Disaster Recovery and Mitigation
The Department of Housing and Urban Development (HUD) today issued the Allocations for Community Development Block Grant Disaster Recovery and Implementation of the CDBG-DR Consolidated Waivers and Alternative Requirements Notice [“2020 CDBG-DR Notice”], a critical step taken by the department to open access to more than $2 billion in federal funds to help communities equitably recover and…