FHFA: Second Quarter 2021 Foreclosure Prevention and Refinance Report Released
More than 6 million homeowners helped since conservatorship The Federal Housing Finance Agency (FHFA) today released its second quarter 2021 Foreclosure Prevention and Refinance Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 217,020 foreclosure prevention actions in the second quarter of 2021, bringing the total number of homeowners who have been helped…
EDA: $820,123 in CARES Act Recovery Assistance Invested to Capitalize Revolving Loan Fund to Support Small Businesses in Southeast Nebraska
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $830,123 CARES Act Recovery Assistance grant to the Southeast Nebraska Development District, Lincoln, Nebraska, to capitalize and administer a Revolving Loan Fund, providing gap financing to small, local businesses in Butler, Fillmore, Gage, Jefferson, Johnson, Lancaster, Nemaha, Otoe, Pawnee, Polk, Richardson, Saline,…
CFPB: Report Finds Consumer Complaint Submission Patterns Vary by Demographic Characteristics of Census Tract
The Consumer Financial Protection Bureau (CFPB) today released its first in-depth report analyzing complaint submission patterns by U.S. Census tract. The report, “Consumer complaints throughout the credit life cycle, by demographic characteristics,” finds that the complaints from wealthier communities and communities with higher percentages of white, non-Hispanic residents were more frequently about loan origination and…
CDFI Fund: Inaugural Round of Small Dollar Loan Program Awards Announced
$10.8 Million Awarded to CDFIs to Provide Alternatives to High Cost Small Dollar Loans Washington – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded more than $10.8 million in grants to Community Development Financial Institutions (CDFIs) today, through the fiscal year (FY) 2021 round of the Small Dollar Loan Program…
SBA: New PPP Milestone Reached with One Million Borrowers Applying for Direct Forgiveness in Less than Two Months
Administrator Guzman highlights new Direct Forgiveness Portal and other innovations as critical to accelerating reviews and approvals The U.S. Small Business Administration (SBA) reached a major milestone today as its Paycheck Protection Program (PPP) Direct Borrower Forgiveness Portal recorded its one millionth PPP loan forgiveness application for borrowers seeking forgiveness for loans of $150,000 or less. “We are committed to…
HUD and FHFA: Clarifications to Freddie Mac’s Policies on Purchasing Mortgages Secured by Group Homes Announced
The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) on Tuesday announced important clarifications to Freddie Mac’s policies that make clear it will purchase mortgages secured by a property owned by an individual and rented to a group home for persons with disabilities. “Clarifying these policies regarding the…
EDA: $2.8 Million in CARES Act Recovery Assistance Invested to Capitalize Revolving Loan Fund and Support Small Business in Las Vegas, NV
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.8 million CARES Act Recovery Assistance grant to the Nevada Business Opportunity Fund, Las Vegas, Nevada, to capitalize and administer a Revolving Loan Fund, providing gap financing to minority and other disadvantaged businesses in Clark County….
SBA: Hurricane Ida Assistance Tops $110 Million
SBA Disaster Relief is Reaching Small Businesses, Homeowners, Renters, and Nonprofits Across Impacted States Isabella Casillas Guzman, Administrator of the U.S. Small Business Administration (SBA) announced today that the agency has delivered more than $110 million in disaster rescue funds to small businesses, homeowners, renters, and nonprofit organizations recovering from damages caused by Hurricane Ida earlier this…
EDA: $1.6 Million Invested to Capitalize Revolving Loan Fund and Support Small Businesses in Montgomery, AL
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the South Central Alabama Development Commission in Montgomery, Alabama, to capitalize and administer a Revolving Loan Fund, providing gap financing to local small businesses. This EDA project will be matched with $400,000…
SBA: Enhanced COVID Economic Injury Disaster Loan Program to Aid Small Businesses Facing Challenges from Delta Variant Announced
Increased Loan Cap to $2 Million, Expanded Use of Funds to Pay and Prepay Business Debt, Streamlined Review Processes, and Deferred Payments; First Approval and Disbursement of Loans of $500,000 or Less Also Introduced. Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program, a federal…