FDIC: Update on Supervisory Approach Regarding Changes to HMDA’s Closed-End Mortgage Loan Volume Reporting Threshold

The Federal Deposit Insurance Corporation (FDIC) is issuing this Financial Institution Letter to inform supervised institutions of recent changes regarding the Home Mortgage Disclosure Act (HMDA) reporting threshold for closed-end mortgage loans and the FDIC’s supervisory approach for enforcing related requirements. For FDIC-supervised institutions that meet Regulation C’s coverage requirements, […]

FEMA: Twenty Tribes and All Inhabited U.S. Territories Now Eligible for FEMA’s Safeguarding Tomorrow Revolving Loan Fund Grant Program

FEMA is expanding the eligibility for a new grant program that provides capitalization grants to fund revolving loans for resilience-related activities. The Safeguarding Tomorrow Revolving Loan Fund grant program has been expanded to give insular areas the same eligibility to apply as states, the District of Columbia and Puerto Rico. This means […]

HUD: FHA Assistance Options Expanded for Borrowers Struggling to Make Mortgage Payments

Updated loss mitigation options will help borrowers struggling with their mortgage payments to avoid foreclosure. Today, the Federal Housing Administration (FHA) is announcing that it is expanding and enhancing its set of loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages. The enhancements extend FHA’s […]

HUD: $15 Million Loan Guarantee Announced for Cleveland, OH Affordable Housing Rehabilitation Project

Today, the U.S. Department of Housing and Urban Development (HUD) announced a $15 million loan guarantee to the City of Cleveland, Ohio. The loan guarantee, offered through the Section 108 Loan Guarantee Program (Section 108), will be used to finance the construction of the Centennial Project in downtown Cleveland. Cleveland […]

ABA: Bank Economists Expect Credit Conditions to Weaken over Next Six Months as Inflation Moderates

Bank economists expect credit conditions to soften over the next six months as the economy slows and the Federal Reserve considers additional steps to rein in inflation, according to the American Bankers Association’s latest Credit Conditions Index released today.  The latest report finds slightly less pessimistic near-term expectations for business […]

CFPB: Public Input Sought on Consumer Credit Market

Feedback from consumers, industry, advocates will help inform biennial credit card market report The Consumer Financial Protection Bureau (CFPB) issued a request for information today seeking public feedback on how the consumer credit market is functioning as part of a biennial review of the industry. The CFPB is seeking more […]

FHFA: Updates to the Enterprises’ Single-Family Pricing Framework Announced

The Federal Housing Finance Agency (FHFA) today announced further changes to Fannie Mae’s and Freddie Mac’s (the Enterprises) single-family pricing framework by introducing redesigned and recalibrated upfront fee matrices for purchase, rate-term refinance, and cash-out refinance loans.  “These changes to upfront fees will strengthen the safety and soundness of the […]