FDIC: Supervisory Insights Winter Edition Focuses on LIBOR

The Federal Deposit Insurance Corporation (FDIC) today issued the Winter 2018 issue of Supervisory Insights, which includes an article examining the future of, and alternatives to, the London Inter-bank Offered Rate (LIBOR). LIBOR is a popular reference rate for commercial loans, residential mortgages, derivatives and swaps, and other credit instruments. While […]

EDA: $7.25 Million Invested in Texas to Support Disaster Recovery and Entrepreneurial Growth Efforts

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $7.25 million in grants to the state of Texas to help the communities of Rockport and Lubbock respond to 2017 disasters and to support entrepreneurial growth efforts in Amarillo. “President Trump has committed […]

HUD: Trump Administration Proposes 2020 HUD Budget

Spending plan preserves rental subsidies; increases homeless assistance and healthy housing The Trump Administration today announced its proposed Fiscal Year 2020 Budget for the U.S. Department of Housing and Urban Development (HUD), a $44.1 billion spending plan that expands resources to prevent/end homelessness; invests record funding to reduce lead and […]

EDA: $27 Million Invested to Expand and Improve Airports in the U.S. Virgin Islands

Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $27 million in grants to the Virgin Islands Port Authority of St. Thomas, U.S.V.I., to expand and improve two major airports in the wake of Hurricanes Irma and Maria. According to grantee estimates, […]

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 […]

Federal Reserve: Consumer Affairs Letter Issued Regarding NMTCs and Public Welfare Investments

CA 19-1: New Markets Tax Credits and Public Welfare Investments BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON, D.C. 20551   DIVISION OF CONSUMER AND COMMUNITY AFFAIRS CA 19-1 February 26, 2019   TO THE OFFICERS AND MANAGERS IN CHARGE OF CONSUMER AFFAIRS SECTIONS AND FINANCIAL INSTITUTIONS SUPERVISED BY THE […]

HUD: Additional $652 Million Approved to Support Texas in Its Recovery from Hurricane Harvey

Action supports $5 Billion in disaster recovery already approved by HUD U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced HUD is approving an additional $652 million to support Texas in its recovery from Hurricane Harvey. The recovery plan HUD is approving today will further assist […]

HUD: FHA Pilot Program Expanded to Accelerate Financing of Low-Income Housing Tax Credit Projects

Action designed to speed production of critically needed affordable housing U.S. Housing and Urban Development (HUD) Secretary Ben Carson today announced a significant expansion of a Federal Housing Administration (FHA) pilot program that streamlines FHA mortgage insurance applications for affordable housing developments that have equity from the sale of Low-Income […]