HUD and Census Bureau: New Residential Sales Report for May 2023 Released
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for May 2023: New Home Sales Sales of new single‐family houses in May 2023 were at a seasonally adjusted annual rate of 763,000, according to estimates released jointly today by the U.S. Census…
Census Bureau: Household Pulse Survey Phase 3.9 Monthly Data Released
The U.S. Census Bureau today released new data from phase 3.9 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to inform federal and state response and recovery planning by providing near real-time data on the social and economic effects of the COVID-19 pandemic and…
SBA: Report Released on Anti-Fraud Control Measures in Pandemic Relief Programs including PPP and EIDL Loans
Eighty-six percent of fraud in small business pandemic relief programs occurred in first nine months of pandemic according to findings in new agency report The U.S. Small Business Administration (SBA) today released a report detailing analysis of anti-fraud protocols put in place by the Biden-Harris Administration in SBA’s four largest pandemic programs. The report “Protecting the Integrity…
FHFA: House Price Index Up 0.7 Percent in April 2023; Up 3.1 Percent from Last Year
U.S. house prices rose in April, up 0.7 percent from March, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 3.1 percent from April 2022 to April 2023. The previously reported 0.6 percent increase in March was revised downward to 0.5 percent. For the nine census divisions, seasonally adjusted monthly…
OCC: Improvement in Mortgage Performance for First Quarter 2023 Reported
The Office of the Comptroller of the Currency (OCC) reported an improvement in the performance of first-lien mortgages in the federal banking system during the first quarter of 2023 compared to the previous quarter. The OCC Mortgage Metrics Report, First Quarter 2023 showed that 97.6 percent of mortgages included in the report were current and performing at…
HUD: Research Grant Opportunity Announced to Study Off-site Construction and Land Use Reforms
On June 15, the U.S. Department of Housing and Urban Development (HUD) released a notice of funding opportunity (NOFO) to build the evidence base to accelerate the adoption of innovative and effective practices and policies to increase the production and supply of quality, affordable housing. The NOFO provides up to $4 million to (1) assess the potential…
CFPB: New Report Identifies Issues with Increased Servicemember Use of Digital Payment Apps
Annual report also highlights other financial challenges facing the military community Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on the top financial concerns facing military families. The report highlights the growth of digital payment app usage in the servicemember community, the unique risks to servicemembers from these services, and the potential…
CDFI Fund: Sources Sought Notice Issued for the CDFI Rapid Response Program, CDFI Equitable Recovery Program and Emergency Capital Investment Program
On June 15, 2023, the Community Development Financial Institutions Fund (CDFI Fund) released a Sources Sought Notice for a multi-year evaluation of the CDFI Fund’s CDFI Rapid Response Program (CDFI RRP), CDFI Equitable Recovery Program (CDFI ERP), and the U.S. Department of the Treasury’s (Treasury) Emergency Capital Investment Program (ECIP). Industry and subject-matter experts are…
ABA: Bank Economists Expect Credit Conditions to Soften in the Second Half of the Year
The latest summary of ABA’s Credit Conditions Index examines a suite of indices derived from the quarterly outlook for credit markets produced by ABA’s Economic Advisory Committee (EAC). The EAC includes chief economists from North America’s largest banks. Readings above 50 indicate that, on net, bank economists expect business and household credit conditions to improve, while readings…
OCC: Comments Requested on Proposed Annual Public Trust in Banking Survey
The Office of the Comptroller of the Currency (OCC) today announced a request for information to gather input on a proposed annual trust survey with the goal of understanding, measuring, and tracking the public’s trust in banking and bank supervision by the OCC and other banking regulators over time. The OCC invites interested members of…