CFPB: Final Rule Issued to Facilitate Transition from LIBOR
The Consumer Financial Protection Bureau (CFPB) today finalized a rule facilitating the transition away from the LIBOR interest rate index for consumer financial products. The rule establishes requirements for how creditors must select replacement indices for existing LIBOR-linked consumer loans after April 1, 2022. No new financial contracts may reference LIBOR as the relevant index…
HUD: Additional $5.7 Million in American Rescue Plan Funds Made Available to Fight Housing Discrimination Related to the Coronavirus Pandemic
The U.S. Department of Housing and Urban Development (HUD) announced today that it is making an additional $5,757,663 in American Rescue Plan (ARP) funding available to help HUD Fair Housing Initiatives Program (FHIP) agencies combat housing discrimination related to the COVID-19 pandemic. Organizations that qualify for the funding, which is being awarded through FHIP’s Private…
EDA: $3 Million Invested to Support Supply Chain and Transportation Infrastructure in San Bernardino, CA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the Inland Valley Development Agency (IVDA), San Bernardino, California, to make improvements to supply chain and transportation infrastructure. The project will enhance access and circulation at the San Bernardino International Airport to…
EDA: $2.6 Million in CARES Act Recovery Assistance Invested to Establish a Medical Training Facility and Create Jobs in Keyser, WV
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.6 million CARES Act Recovery Assistance grant to Potomac Valley Hospital, Keyser, West Virginia, for the construction of a new 12,000-square foot medical training facility. The new facility will offer state-of-the art equipment, including broadband connectivity,…
EDA: $1.6 Million in CARES Act Recovery Assistance Invested to Expand a Workforce Training Facility in Roxbury, MA
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million CARES Act Recovery Assistance grant to Morgan Memorial Goodwill Industries, Inc., Roxbury, Massachusetts, to expand a workforce training facility and strengthen the local economy. This project will make infrastructure upgrades needed to expand an…
HUD: $41 Million Awarded in HOPWA Grants to Provide Housing to Low-Income Persons Living with HIV and Their Families
The U.S. Department of Housing and Urban Development’s (HUD) Office of HIV/AIDS Housing today announced it will award $41 million in Housing Opportunities for Persons With AIDS (HOPWA) competitive grants to 20 local governments and non-profit organizations through the HOPWA: Housing as an Intervention to Fight AIDS funding opportunity. “The importance of affordable housing and…
HUD: $10 Million Awarded to Boost Self-Help Homeownership Housing Opportunities
The U.S. Department of Housing and Urban Development (HUD) today announced the awarding of $10 million in Self-Help Homeownership Opportunity Program (SHOP) grants. The funds awarded will support three national and regional organizations in facilitating innovative homeownership opportunities to communities, especially low-income communities, through the provision of self-help housing. Three national and regional groups were…
FHFA: Deemed-Issuance Ratio for 2022 Regarding Uniform Mortgage-Backed Securities Announced
The Federal Housing Finance Agency (FHFA) today announced the deemed-issuance ratio for the 2022 calendar year in accordance with Internal Revenue Service (IRS) guidelines on the trading of the Uniform Mortgage-Backed Security (UMBS). The deemed-issuance-ratio will be used for diversification reporting on the bonds ultimately delivered to the purchaser until the bonds have been disposed of, regardless…
SBA: New Fact Sheet Details Help Provided to America’s Small Businesses in Recovering from the COVID-19 Pandemic
While the holidays may still look a little different this year, the U.S. has made significant strides to ensure Americans can safely congregate with their loved ones for the Thanksgiving holiday and take part in celebrations to shop local and small on Small Business Saturday. Last year, shoppers came together in full force to support…
HUD: $20 Million Awarded for Eviction Protection and Diversion
The U.S. Department of Housing and Urban Development (HUD) on Tuesday announced $20 million in inaugural grants from its Eviction Protection Grant Program, the first of its kind for the Department. These grants will be awarded to legal service providers to assist in providing legal assistance to low-income tenants at risk of or subject to…