CFPB: 2023 HMDA Loan-Level Data on Mortgage Lending Now Available
The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2023 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for approximately 5,089 HMDA filers. The published data contain loan-level information filed by financial institutions and modified to protect consumer privacy. To increase public accessibility, the annual loan-level…
FHFA: Fourth Quarter 2023 Foreclosure Prevention and Refinance Report Released
More than 6.9 million troubled homeowners assisted during conservatorships The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2023 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 43,903 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped…
ABA: Report Finds Farm Bank Lending Increased to $110 Billion in 2023
Banks reported holding over 1.1 million small farm loans worth $70 billion Amid elevated production costs, commodity price volatility and a return to pre-pandemic levels of direct government payments, agricultural loan demand increased in 2023 and agricultural lending by U.S. farm banks grew 6.7% to $110.0 billion, according the American Bankers Association’s annual Farm Bank…
FHFA: 2024 Generative AI in Housing Finance TechSprint Announced
The Federal Housing Finance Agency (FHFA) today announced its second TechSprint, an in-person team-based problem-solving event hosted by its Office of Financial Technology. FHFA’s Generative Artificial Intelligence (AI) in Housing Finance TechSprint will bring together technology, regulatory, housing, and consumer finance experts to identify use cases (or specific scenarios) and associated control measures to support…
ABA: Consumer Survey Data Unveiled on Debit Cards, Overdraft and Other Banking Issues
In the wake of the Federal Reserve’s recent proposal to further lower the price cap on the debit interchange merchants pay to process debit card transactions, a new survey conducted by Morning Consult on behalf of the American Bankers Association finds that consumers are happy with their debit cards and think the government should leave…
OCC: Mortgage Performance Reported for Fourth Quarter 2023
The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the fourth quarter of 2023. The OCC Mortgage Metrics Report, Fourth Quarter 2023 showed that 97.2 percent of mortgages included in the report were current and performing at the end of the quarter, an increase…
ABA: New Consumer Polling Data on Major Bank Policy Issues Released
National survey finds strong majorities are happy with their bank, view banking as “highly competitive,” value credit cards, and are concerned about the impact of new bank regulation Nine in 10 Americans with a bank account (87%) say they are “very satisfied” or “satisfied” with their primary bank, and 96% rate their bank’s customer service as…
SBA: Economic Injury Disaster Loans Available for Washington Small Businesses
Small nonfarm businesses in 22 Washington counties and neighboring counties in Oregon are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration, announced Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. These loans offset economic losses because of reduced revenues caused…
HUD: For the First Time in 15 Years, FHA Increases Loan Limits to Expand Financing for Manufactured Homes
Newly increased loan limits for Title I Program supports the Biden-Harris Administration’s efforts to increase the supply and use of manufactured homes as an affordable housing source. Today, the Federal Housing Administration (FHA) announced new loan limits for its Title I Manufactured Home Loan Program. The increased amounts use new methodologies for calculating and updating the program’s limits,…
Agencies Take Temporary Action on Appraisal Requirements in Area Affected by Hawaii Wildfires
To help facilitate recovery efforts from wildfires in Hawaii last year, four federal financial institution regulatory agencies today temporarily paused certain appraisal requirements for real estate-related transactions in Maui County. This temporary action is expected to allow banks and credit unions to work with families and businesses without obtaining an appraisal. Banks and credit unions…