OCC: New Publication Focuses on Bank Partnerships in Community Reinvestment and Resilience
The Office of the Comptroller of the Currency (OCC) today published the latest edition of its Community Developments Investments newsletter, “Partners in Recovery: Community Reinvestment and Resilience.” This edition of Community Developments Investments highlights how banks can collaborate with community development financial institutions, minority depository institutions, and other community-based groups to help rebuild communities recovering from the COVID-19 pandemic…
HUD: $5 Million Loan Guarantee Announced for St. Johns County for Construction of Multipurpose Community Center
Loan guarantee will provide financing for the construction and planning costs, site development, and construction of a multipurpose community center and library facility. The U.S. Department of Housing and Urban Development (HUD) today announced a $5,075,000 loan guarantee to St. Johns County, Florida to help finance the construction of the Hastings Community Center and Library…
CFPB: Agency to Examine Colleges’ In-House Lending Practices
CFPB Publishes Oversight Protocols for Institutional Student Lending Today, the Consumer Financial Protection Bureau (CFPB) announced it will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students. The CFPB is issuing an update to its exam procedures including a new section on institutional student loans. As…
HUD: FHA Real-Estate Owned Property Purchase Opportunities Expanded for Owner-Occupied Buyers
Expanded exclusive listing period increases priority purchase opportunities on HUD-owned single-family homes for owner-occupants, HUD-approved nonprofits, and governmental entities. The Federal Housing Administration (FHA) on Thursday announced it is increasing its exclusive listing period on certain HUD single-family real-estate owned (REO) homes to allow more time for owner occupants, HUD-approved nonprofit organizations, and governmental entities to submit…
HUD: Nonprofit Bidders Successfully Purchased More Than 800 Mortgage Notes through HUD-Held Vacant Loan Sale
Competitive bid sale provided priority bidding on 50 percent of mortgage notes in multi-loan pools by non-profit organizations and units of state and local government. The U.S. Department of Housing and Urban Development’s Office of Asset Sales announced on Thursday that 23 mission-driven non-profit organizations successfully participated – and 11 were awarded pools – in its…
SBA: Hurricane Ida Assistance Has Exceeded $1 Billion
SBA Disaster Relief is Reaching Small Businesses, Homeowners, Renters, and Nonprofits Across Seven Impacted States U.S. Small Business Administration Administrator Isabella Casillas Guzman announced today that the agency has delivered more than $1 billion in disaster rescue funds to small businesses, homeowners, renters, and private nonprofit organizations recovering from damages caused by Hurricane Ida in September….
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…
HUD: Upcoming HUD-Held Single Family Note Sale Emphasizes Nonprofit Participation
Competitive bid sale provides priority bidding to nonprofit organizations and units of state and local government. The U.S. Department of Housing and Urban Development’s Office of Asset Sales announced on Thursday that it will conduct a competitive bid HUD-held vacant note sale (HVLS 2022-1) on November 10, 2021. The sale will include approximately 1,730 reverse mortgage…
HUD: More Than $36 Million Awarded to Support Public Housing and Native American Residents in Achieving Economic and Housing Stability
Today, the U.S. Department of Housing and Urban Development (HUD) announced the award of $36.9 million to public housing authorities, public housing resident associations, Native American tribes, and nonprofit organizations across the nation. Grantees will use these Resident Opportunity and Self-Sufficiency (ROSS) grant funds to hire and/or retain Service Coordinators to assist public and Native…