HUD: $14 Million Awarded to Help Homeless Veterans Find Permanent Housing
In an effort to help homeless veterans and their families find permanent housing, The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) awarded $14 million in HUD-Veterans Affairs Supportive Housing (HUD-VASH) vouchers to 66 Public Housing Agencies (PHAs) across the country for over 1,400 vouchers. Please see…
Census Bureau: Household Pulse Survey Phase 4.0 Monthly Data Released
The U.S. Census Bureau today released new data from phase 4.0 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to measure how emergent issues are impacting U.S. households from a social and economic perspective. Topics for phase 4.0 include employment status, spending, food security, housing,…
ABA: Bank Economists Express Cautious Optimism About Credit Conditions in 2024
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…
Agencies Issue 2023 Shared National Credit Program Report
Federal bank regulatory agencies today reported in the 2023 Shared National Credit (SNC) report that credit quality associated with large, syndicated bank loans remains moderate. However, the agencies noted declining credit quality trends due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors. Risks in leveraged…
Census Bureau: Webinar Scheduled on New “My Community Explorer for Puerto Rico” Tool for Underserved and At-Risk Communities
The U.S. Census Bureau is scheduled to hold a webinar on Feb. 22 at 11:30 a.m. ET to show attendees how to use the new “My Community Explorer (MCE) for Puerto Rico 1.0” tool. The tool displays natural disaster layers, such as hurricanes, and shows the impact of significant disasters on at-risk communities and underserved…
CDFI Fund: Transition FAQs Released on the Census 2020 Island Areas Datasets and Updated 2016-2020 American Community Survey
CDFI Program, NACA Program, BEA Program, and NMTC Program updated Census transition documents and datasets. The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) recently released updated guidance and geographic eligibility data files for CDFI Certification, the Community Development Financial Institutions Program (CDFI Program), Native American CDFI Assistance Program (NACA Program),…
Federal Reserve: New Paper Reexamines the Role of the CRA in Mortgage Supply and the U.S. Housing Boom
Abstract: Concerns have lingered since the 2007 subprime crisis that government housing policies promote risky mortgage lending. The first peer-reviewed evidence of a causal effect was published by the Review of Financial Studies in a paper (Saadi, 2020) linking the crisis to changes in the Community Reinvestment Act (CRA) in 1995. A review of that…
FHFA: Latest Report on Non-Performing Loan Sales 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 June 30, 2023. Borrower outcomes reflect NPLs sold through December 31, 2022. The sale of NPLs…
FHFA: House Price Index Up 0.3 Percent in November 2023; Up 6.6 Percent from Last Year
U.S. house prices rose in November, up 0.3 percent from October, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 6.6 percent from November 2022 to November 2023. The previously reported 0.3 percent price increase in October remained unchanged. For the nine census divisions, seasonally adjusted monthly price changes from…
CDFI Fund: Application Demand for CY 2023 Round of the NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 196 applications for the calendar year (CY) 2023 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development…