CFPB: Preparing America’s Young Workers for Success
The success of America’s young workers is critical to the strength of our economy. Millions of young people enter the workforce every year. Youth employment programs offered in local communities present a powerful opportunity to help young people develop healthy financial habits early and access services and products that can help them save, invest, and…
CDFI Fund: Conference Call on 2018 Bond Guarantee Program Round on December 18th and 19th
On November 1, 2017, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2018 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in bond guarantee authority is available to eligible Community Development Financial Institutions (CDFIs) in FY 2018, pending…
HUD: New FHA Loan Limits for 2018 Announced
Loan limits to increase in more than 3,000 counties The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for 2018, with most areas in the country to experience an increase in loan limits in the coming year. These loan limits are effective for FHA case numbers assigned on or after…
HUD: FHA to Halt Insuring Mortgage with PACE Assessments
The Federal Housing Administration (FHA) today announced it is reversing a short-lived policy announced in July of 2016 and will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments. Read FHA’s mortgagee letter. FHA’s decision is part of a larger effort to protect the health of its Single Family…
HUD: Secretary Carson Launches EnVision Center Initiative
Today, Dr. Ben Carson, Secretary of the U.S. Department of Housing and Urban Development announced the launch of EnVision Centers, a new initiative designed to help HUD-assisted households achieve self-sufficiency. Located on or near public housing developments, EnVision Centers will be centralized hubs that serve as an incubator for the four key pillars of self-…
SBA: Veterans Business Outreach Center Fund Opportunity Announced
Private organizations, colleges and universities, private sector firms, nonprofit organizations and state, local or tribal governmental agencies are eligible to apply for funding from the U.S. Small Business Administration to provide training and counseling to aspiring and existing veteran small business owners as a Veterans Business Outreach Center (VBOC). The grant awardees will be providing training…
FHFA: Progress Update on the Single Security Initiative and Common Securitization Platform
The Federal Housing Finance Agency (FHFA) today published An Update on Implementation of the Single Security Initiative and the Common Securitization Platform detailing progress toward further implementation of the Common Securitization Platform (CSP) and launch of a single, common security called the Uniform Mortgage-Backed Security (UMBS). As announced previously, Fannie Mae and Freddie Mac (the…
FHFA: Maximum Conforming Loan Limits Announced for 2018
The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017. Baseline limit The Housing and Economic…
FDIC: Webinar Announced on Resources for Accessing Affordable Mortgage Credit for December 8th
Printable Format: FIL-61-2017 – PDF (PDF Help) Summary: The FDIC is hosting a webinar on December 8, 2017, from 2:00 p.m. to 3:30 p.m. Eastern Time. The webinar will highlight the FDIC’s Affordable Mortgage Lending Guide, and panelists will discuss state and federal mortgage products. The goal is to increase lenders’ awareness and understanding of…
OCC: Joseph M. Otting Takes Office as the 31st Comptroller of the Currency
Joseph M. Otting today became the 31st Comptroller of the Currency, after being sworn into office by Secretary of the Treasury Steven T. Mnuchin and being confirmed by the U.S. Senate on November 16, 2017. President Donald Trump nominated Mr. Otting in June 2017. The U.S. Senate confirmed him on November 16, 2017. Mr. Otting…