CDFI Fund: FY 2019 CDFI Bond Guarantee Program Application Period Now Open
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2019 application period for the CDFI Bond Guarantee Program. The CDFI Bond Guarantee Program responds to the critical market demand for long-term, low-cost capital that can be used to spur economic growth in low-income communities. Through…
FHFA: Progress Update on Fannie Mae and Freddie Mac Credit Risk Transfer Programs
The Federal Housing Finance Agency (FHFA) today issued a Credit Risk Transfer Progress Report describing the status and volume of credit risk transfer (CRT) transactions through the second quarter of 2018. The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the…
CDFI Fund: CDFI Certification Application Now Available in AMIS
In June, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced that it would not accept new applications for certification as a Community Development Financial Institution (CDFI) for a 90-day period, beginning August 1, 2018. The CDFI Fund needed to temporarily halt the application submission process to implement critical systems…
CUNA: $2 Million in Grants Awarded to 203 Low-Income Credit Unions
The NCUA awarded $2 million in grants to 203 low-income credit unions, funding from the agency’s Community Development Revolving Loan Fund (CDRLF). CUNA strongly supports full funding for the CDRLF, and successfully fought to restore funding when the fund was zeroed out for fiscal year 2018. Grant awards ranging from $1,300 to $20,000 were made…
SBA: National Veterans Small Business Week Kicks Off November 5-9
The U.S. Small Business Administration will celebrate the accomplishments of veteran, service member and military spouse small business owners nationwide during National Veterans Small Business Week, Nov. 5-9. “National Veterans Small Business Week is another opportunity for us not only to highlight the success of our nation’s 2.5 million veteran-owned businesses, but also to recognize…
SBA: Shawn Pensoneau Appointed to Office of Native American Affairs
Administrator Linda McMahon of the U.S. Small Business Administration announced the appointment of Shawn Pensoneau as the Assistant Administrator for the SBA’s Office of Native American Affairs. In this role, he will oversees the office’s collaboration with American Indians, Alaska Natives and Native Hawaiians who seek to create, develop and expand small businesses and ensure…
ABA: Officers, Board Elected for 2018-2019
Members attending the American Bankers Association’s annual convention in New York have elected new ABA officers and directors to serve on ABA’s board for the 2018–2019 association year. The new officers are: CHAIRMAN: Jeffrey M. Szyperski, chairman, president and CEO, Chesapeake Bank, Kilmarnock, Va.; CHAIRMAN-ELECT: Laura Lee (Laurie) Stewart, president and CEO, Sound Community Bank,…
ABA: Jeffery Szyperski, Virginian Banker, Elected as New ABA Chairman
Today the American Bankers Association elected Jeffrey M. Szyperski as its chairman for the 2018-2019 association year. The election took place during ABA’s annual convention in New York. Szyperski is also chairman, president and CEO of Chesapeake Financial Shares, Inc., and Chesapeake Bank, an $820 million institution based in Kilmarnock, Va. In addition, he is…
HUD: FHA Announces Streamlined Claim Payment Requirements in Home Equity Conversion Mortgage Program
Action intended to speed reverse mortgage claim payments The Federal Housing Administration (FHA) today announced revised requirements for Home Equity Conversion Mortgage (HECM) servicers when they assign FHA-insured reverse mortgages to the agency for claim payment. Effective immediately, FHA-approved HECM servicers can use alternative supporting documentation in lieu of previously required materials that, in many…
HUD: Trump Administration Marks National Lead Poisoning Prevention Week
HUD, HHS and EPA reinforce ways to protect children from lead exposure To kick off National Lead Poisoning Prevention Week (NLPPW), leaders of President Donald Trump’s Task Force on Environmental Health Risks and Safety Risks to Children are raising awareness about the health risks associated with exposure to lead, specifically for children. NLPPW, which will…