FDIC: Board of Directors Issues a Final Rule on Special Assessment Pursuant to Systemic Risk Determination
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action…
HUD: FHA Helps Over 765,000 Families Buy Homes and Maintains a Strong Insurance Fund
Annual Report to Congress for fiscal year 2023 highlights impact of insurance premium reduction, assistance for approximately two million struggling homeowners, and a well-capitalized Mutual Mortgage Insurance Fund. The Federal Housing Administration (FHA) published today its annual report to Congress describing the work of its Single Family mortgage insurance programs in fiscal year 2023 and the performance…
HUD: FHA Increases Allowable Fees for Inspections of Vacant Single Family Homes
Newly updated allowable inspection fees increase compensation for inspections that determine a property’s occupancy status. The Federal Housing Administration (FHA) today announced it has increased the allowable property inspection fee limits for property inspections of single-family homes associated with defaulted FHA-insured mortgages. These inspections are a crucial component of servicers’ preservation and protection of properties. They also…
FHFA: 2024 Multifamily Loan Purchase Caps Announced for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) announced today that the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise, for a combined total of $140 billion to support the multifamily market. To ensure a strong focus on affordable housing and underserved markets, FHFA will…
SBA: Adminstrator Guzman Encourages Shopping Small on November 25th for Small Business Saturday
SBA Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, is encouraging the nation to shop, dine, and entertain at local small businesses on November 25 in celebration of Small Business Saturday® and throughout the holiday season. Small Business Saturday is…
HUD: Deputy Secretary Announces New Streamlined Enrollment Process for Afforable Connectivity Program in Albany, Georgia
Deputy Secretary Adrianne Todman met with the Mayor of the City of Albany, Georgia, local leaders, housing providers, and community members to discuss rural housing needs and access to quality broadband connections. As part of the Biden-Harris Administration’s Investing in Rural America Tour, the U.S. Department of Housing and Urban Development (HUD) Deputy Secretary Adrianne…
CDFI Fund: Advisory Board Will Hold Public Meeting Virtually on November 28th
The Community Development Financial Institutions Fund (CDFI Fund) is convening a public meeting of the Community Development Advisory Board (the Advisory Board) from 2:00 to 4:00 p.m. Eastern Standard Time on Tuesday, November 28, 2023. This meeting will be conducted virtually. The function of the Advisory Board is to advise the Director of the CDFI…
HUD: FHA Proposes Update to Home Equity Conversion Mortgage Assignment Claims Eligiblity to Strengthen Market Liquidity
Proposal posted for feedback will ensure long-term program viability and expanded availability for senior homeowners. The Federal Housing Administration (FHA) today announced it has posted for industry feedback a proposed update to its Home Equity Conversion Mortgage (HECM) assignment claims eligibility policy. The proposal enables certain categories of due and payable HECMs that were previously ineligible for…
FEMA: First-Ever Cyber Incidents Planning Guidance for Emergency Managers Released by FEMA and CISA
Today, Department of Homeland Security (DHS) Secretary Alejandro N. Mayorkas, FEMA Administrator Deanne Criswell and Cybersecurity and Infrastructure Security Agency (CISA) Director Jen Easterly announced the release of an important new resource guide for emergency managers. The new “Planning Considerations for Cyber Incidents: Guidance for Emergency Managers” is a foundational product that provides a roadmap…
FEMA: DHA Unveils New “Shields Ready” Campaign to Promote Critical Infrastructure Security and Resilience
Today, the Department of Homeland Security (DHS), the Cybersecurity and Infrastructure Security Agency (CISA), and FEMA launched the new “Shields Ready” campaign to encourage the critical infrastructure community to focus on strengthening resilience. Resilience is the ability to prepare for, adapt to, withstand and rapidly recover from disruptions caused by changing conditions. The new campaign was unveiled during…