FEMA: President Trump Approves Major Disaster Declaration for Virginia
The Federal Emergency Management Agency announced today that federal disaster assistance has been made available to the Commonwealth of Virginia to supplement Commonwealth and eligible local recovery efforts in the areas affected by tropical storm Michael from October 9 to October 16, 2018. Federal funding is available to Commonwealth, and eligible local governments, and certain…
CDFI Fund: Summary Report and Public Data for NMTC Program for FY 2003-2016 Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a Summary Report and data collected on New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2016. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations to submit an annual…
CDFI Fund: Annual Certification Reporting Deadlines Revised
Annual Certification and Data Collection Reports now Due 90 Days after Organizational Fiscal Year-end The U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) is revising the due dates for certified community development financial institutions (CDFIs) to submit their required Annual Certification and Data Collection Reports (ACRs). Certified CDFIs are required to submit ACRs…
HUD: Report Shows Homelessness Unchanged in U.S. in 2018 with Notable Declines among Veterans and Families with Children
Homelessness in the U.S. remained largely unchanged in 2018, according to the latest national estimate by the U.S. Department of Housing and Urban Development (HUD). HUD’s 2018 Annual Homeless Assessment Report to Congress found that 552,830 persons experienced homelessness on a single night in 2018, an increase of 0.3 percent since last year. Meanwhile, homelessness…
SBA: Jihoon Kim Selected to Lead the Office of Financial Program Operations
Administrator Linda McMahon of the U.S. Small Business Administration (SBA) announced the selection of Jihoon Kim as the director for the SBA’s Office of Financial Program Operations (OFPO). In this role, Kim is responsible for overseeing SBA’s national lending operations, including 504 and 7(a) loan processing centers in Sacramento, Calif., and Hazard, Ky.; 504 and…
HUD: New FHA Loan Limits for 2019 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 2019, 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…
FHFA: Proposed Rule Issued on Validation and Approval of Credit Score Models
The Federal Housing Finance Agency (FHFA) is seeking public comment on a proposed rule that would establish standards and criteria for the validation and approval of third-party credit score models used by Fannie Mae and Freddie Mac (the Enterprises). This proposed rule is required by Section 310 of the Economic Growth, Regulatory Relief, and Consumer…
FEMA: Federal Disaster Assistance Exceeds $656 Million Two Months after Hurricane Michael’s Landfall
Two months after Hurricane Michael raked Northwest Florida with 155 mph winds and devastating storm surge, federal disaster assistance awarded to survivors exceeds $656 million. “The Florida State Emergency Response Team provided a historic response to the strongest hurricane to impact the Panhandle in living memory, completing thousands of missions in support of local response…