FDIC: CRA Examination Schedules for First Quarter 2019 and Second Quarter 2019 Issued
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first quarter of 2019 and second quarter of 2019. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of…
FHFA: Index Shows Mortgage Rates Increased in October 2018
Nationally, interest rates on conventional purchase-money mortgages increased from September to October, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.75 percent for loans closed in late October, up 13 basis points from 4.62 percent in September….
OCC: First and Second Quarter 2019 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first and second quarters of 2019. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA, and suggests that comments be…
HUD and Census Bureau: New Residential Sales Report for October 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for October 2018: New Home Sales Sales of new single-family houses in October 2018 were at a seasonally adjusted annual rate of 544,000. This is 8.9 percent (±13.7 percent)* below the revised September…
EDA: $3.1 Million Invested to Support Disaster Resiliency Efforts in Laurens, SC
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3.1 million grant to Laurens County Water and Sewer Commission of Laurens, South Carolina, to make critical water infrastructure improvements needed to keep businesses open in the wake of future severe weather events. “The Trump Administration is…
FEMA: President Trump Approves Major Disaster Declaration for Pennsylvania
The Federal Emergency Management Agency announced today that federal disaster assistance has been made available to the Commonwealth of Pennsylvania to supplement Commonwealth, and eligible tribal and local recovery efforts in the areas affected by severe storms and flooding on August 10 to August 15, 2018. Federal funding is available to the Commonwealth, eligible local…
FHFA: U.S. House Prices Rise 1.3 Percent in Third Quarter 2018
U.S. house prices rose 1.3 percent in the third quarter of 2018 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.3 percent from the third quarter of 2017 to the third quarter of 2018. FHFA’s seasonally adjusted monthly index for September was up 0.2 percent from August. The…
FHFA: Maximum Conforming Loan Limits for 2019 Announced
Fannie Mae and Freddie Mac Baseline Limit Will Increase to $484,350 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 2019. In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an…
CDFI Fund: Application Demand for FY 2018 Round of Capital Magnet Fund Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the application data for the fiscal year (FY) 2018 round of its Capital Magnet Fund program. A total of 116 organizations submitted eligible applications requesting more than $570 million in funding. The applicants propose to serve 49 states, the District…
OCC: New Publication Discusses the Importance of Bank Financing for Rural Broadband Initiatives
The Office of the Comptroller of the Currency (OCC) today published the latest edition of its Community Developments Investments newsletter, “Expanding Internet Access: Bank Financing for Rural Broadband Initiatives.” This edition of Community Developments Investments discusses the important role national banks and federal savings associations can play in helping rural communities gain reliable, high-speed internet…