HUD: Disaster Aid Offered to Hawaii Storm and Flood Victims
Federal aid supports state and local recovery for April 2024 Hawaii storms, flooding, and landslides. The U.S. Department of Housing and Urban Development (HUD) announced the implementation of federal disaster assistance for the state of Hawaii and ordered Federal assistance to State and local recovery efforts in the areas affected by severe storms, flooding and…
OCC: Final Rule on Automated Valuation Models Approved
The Office of the Comptroller of the Currency today approved a final rule to implement quality control standards for automated valuation models used by mortgage originators and secondary market issuers in valuing residential real estate collateral securing mortgage loans. The rulemaking supports Acting Comptroller of the Currency Michael J. Hsu’s priority to reduce inequality and…
FHFA: Latest Non-Performing Loan Sales Report Released
The Federal Housing Finance Agency (FHFA) today released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes sales information about NPLs sold through December 31, 2023. Borrower outcomes reflect NPLs sold through June 30, 2023. The sale of NPLs…
OCC: FFIEC 2024 “A Guide to HMDA Reporting: Getting It Right!” Released
The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting it Right!” (2024 guide). The 2024 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR…
SBA: Extension of Moratorium Announced on 8(a) Eligibility Requirement for Small Disadvantaged Businesses
Bona Fide Place of Business Moratorium Extension Until Sept. 30, 2025, Will Increase the Opportunity for SDBs to Grow Their Businesses Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced that the moratorium on the 8(a) Business Development Program’s Bona…
FHFA: Public Input Sought on Fannie Mae’s and Freddie Mac’s Proposed Duty to Serve Underserved Market Plans for 2025-2027
The Federal Housing Finance Agency (FHFA) today issued a request for input (RFI) on the proposed 2025-2027 Underserved Markets Plans (Plans) submitted by Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) program. The proposed Plans cover the period from January 1, 2025, to December 31, 2027. “Providing sustainable liquidity for affordable housing…
CFPB: Rule Proposed to Ban Medical Bills from Credit Reports
Rule would remove as much as $49 billion of medical debts that unjustly lowers credit scores for 15 million Americans The Consumer Financial Protection Bureau (CFPB) today proposed a rule that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from…
SBA: Working Capital Loan Pilot Program Launched
Pilot Program Expands Small Businesses’ Access to Credit Lines That Create Jobs, Spur Sales and Growth Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced the 7(a) Working Capital Pilot (WCP) Program. The WCP offers a newly structured…
HUD: Deal Finalized to Promote Energy Efficiency and Climate Resilience for New York Families
The transaction is funded by the Inflation Reduction Act as part of President Biden’s Investing in America agenda to provide more comfortable homes for families. Today, the U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs, announced it has completed a $192,000 loan transaction under the Green and Resilient Retrofit Program…
HUD: New FHA Loan Program Launched to Invest in Manufactured Home Communities
New program offers affordable financing for organizations to purchase or refinance and revitalize manufactured home communities to lower housing costs across the country. Today, the U.S. Department of Housing and Urban Development, through the Federal Housing Administration (FHA), announced the launch of its new Manufactured Home Community loan product, which will provide an FHA-insured financing option for…