HUD: More than $15 Million Awarded to Native American Tribes to Support Coronavirus Efforts
The U.S. Department of Housing and Urban Development (HUD) today awarded $15 million to Tribes across the Nation as part of HUD’s Indian Community Development Block Grant (ICDBG) Imminent Threat program, which provides funding to help address problems that pose an imminent threat to public health or safety of Tribal residents. This funding will specifically…
Census Bureau: Weekly Household Pulse Survey Data Released
The Census Bureau today released new data from the experimental Household Pulse Survey. The Household Pulse Survey is the result of an effort by the Census Bureau and other federal statistical agencies to document temporal trends in how individuals are experiencing business curtailment and closures, stay-at-home orders, school closures, changes in the availability of consumer goods…
FHFA: New Tenant Forebearance Protections Announced
Today, to help renters in multifamily properties stay in their homes and to support multifamily property owners during the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are allowing servicers to extend forbearance agreements for multifamily property owners with existing forbearance agreements for up to…
OCC: Agency Highlights Key Risks for Federal Banking System
The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Spring 2020. Banks entered the national health emergency related to COVID-19 in sound condition but face weak economic conditions…
EDA: $1.8 Million in CARES Act Funding Invested to Boost Economic Development Programs to Help Native American and Alaska Native Planning Organizations
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $1.8 million in CARES Act Recovery Assistance grants to Native American and Alaska Native planning organizations to update economic development plans and fortify programs to assist communities in responding to the coronavirus pandemic. “The Trump Administration is eager to allocate these essential CARES…
EDA: Over $10 Million in CARES Act Funding Invested to Support Economic Recovery from Coronavirus Pandemic
The U.S. Department of Commerce’s Economic Development (EDA) administration has awarded over $10 Million in CARES Act Funding to support economic development and economic recovery in response to the coronavirus pandemic. Investments include: $400,000 to help 17 communities in Southeastern Massachusetts $400,000 to help the Prince William Sound Region of Alaska $400,000 to help Barnstable…
Census Bureau: Weekly Data on Household Pulse Survey Released
The Census Bureau today released new data from the experimental Household Pulse Survey. The Household Pulse Survey is the result of an effort by the Census Bureau and other federal statistical agencies to document temporal trends in how individuals are experiencing business curtailment and closures, stay-at-home orders, school closures, changes in the availability of consumer goods…
HUD: Nearly $1 Million in CARES Act Funding Awarded to 19 State and Local Fair Housing Organizations
The Department of Housing and Urban Development announced today that it is awarding $962,160 in funding to HUD Fair Housing Assistance Program (FHAP) agencies in New York, Louisiana, Rhode Island, Iowa, Pennsylvania, Massachusetts, California, Texas, Indiana, Florida, Nebraska, Hawaii, South Carolina, Maryland, Michigan, Connecticut, and New Jersey to support activities related to COVID-19. The awards…
Regulatory Agencies Issue Examiner Guidance for Assessing Safety and Soundness Effect of COVID-19 Pandemic
The four federal agencies in conjunction with the state bank and credit union regulators today issued examiner guidance to promote consistency and flexibility in the supervision and examination of financial institutions affected by the COVID-19 pandemic. No action on the part of supervised institutions is required. Stresses caused by the spread of COVID-19 have led…
CFPB: Interim Final Rule Issued on Loss Mitigation Options for Homeowners Recovering from Pandemic-Related Financial Hardships
The Consumer Financial Protection Bureau (Bureau) issued today an interim final rule (IFR) that will make it easier for consumers to transition out of financial hardship caused by the COVID-19 pandemic and easier for mortgage servicers to assist those consumers. The CARES Act provides forbearance relief for consumers with federally-backed mortgage loans. The mortgage industry…