Federal Reserve: FEDS | On Intergenerational Immobility – Evidence that Adult Credit Health Reflects the Childhood Environment
March 2017 (Revised November 2017) On Intergenerational Immobility: Evidence that Adult Credit Health Reflects the Childhood Environment (PDF) Sarena Goodman, Alice Henriques, and Alvaro Mezza Abstract: Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and…
SBA: Economic Injury Disaster Loans Offered to Small Businesses in Florida Affected by Hurricane Irma
Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in the declared counties of Florida that have suffered financial losses as the result of Hurricane Irma, should consider applying for an Economic Injury Disaster Loan from the U.S. Small Business Administration. The SBA’s Economic Injury Disaster Loans (EIDLs)…
FHFA: U.S. House Prices Rise 1.4 Percent in Third Quarter 2017
U.S. house prices rose 1.4 percent in the third quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.5 percent from the third quarter of 2016 to the third quarter of 2017. FHFA’s seasonally adjusted monthly index for September was up 0.3 percent from August. The…
FHFA: Maximum Conforming Loan Limits Announced for 2018
The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017. Baseline limit The Housing and Economic…
FDIC: Webinar Announced on Resources for Accessing Affordable Mortgage Credit for December 8th
Printable Format: FIL-61-2017 – PDF (PDF Help) Summary: The FDIC is hosting a webinar on December 8, 2017, from 2:00 p.m. to 3:30 p.m. Eastern Time. The webinar will highlight the FDIC’s Affordable Mortgage Lending Guide, and panelists will discuss state and federal mortgage products. The goal is to increase lenders’ awareness and understanding of…
CFPB: Five Ways Banks and Lenders Work with People Who Speak or Understand Limited English
By Alice Chang and Dubis Correal and Holly Zaharchuk More than one out of every 12 people over the age of five in the U.S. are limited English proficient (LEP), meaning that they speak English less than very well, according to the U.S. Census Bureau’s 2016 American Community Survey One-Year Estimates. LEP consumers may…
FHFA: 2018 Multifamily Lending Caps for Fannie Mae and Freddie Mac Announced
The Federal Housing Finance Agency (FHFA) today announced that the 2018 multifamily lending caps for Fannie Mae and Freddie Mac (the Enterprises) will be $35 billion for each Enterprise, down from $36.5 billion in 2017. The caps are based on projections of the overall size of the 2018 multifamily originations market, which FHFA expects to…
Joint Release: Agencies Amend CRA Regulations to Conform to HMDA Regulation Changes and Remove References to the Neighborhood Stabilization Program
The federal bank regulatory agencies have amended their respective Community Reinvestment Act (CRA) regulations primarily to conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). Since 1995, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and…