FEMA: Partnerships and Progress – $10 Billion in Disaster Assistance in the Hands of Texans
AUSTIN, Texas – More than $10 billion in state and federal resources and plenty of hard work by resilient Texans pave the way to recovery from Hurricane Harvey. Here’s a snapshot of recovery 90 days after the Category 4 storm struck Texas: $1.4 billion in federal grants were approved for 350,000 homeowners and renters. $2.6…
FHFA: Index Shows Mortgage Rates Decreased in October 2017
Nationally, interest rates on conventional purchase-money mortgages decreased 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 3.98 percent for loans closed in late October, down 2 basis points from 4.00 percent in September….
Federal Reserve: FEDS | Bank Failures, Capital Buffers and Exposure to the Housing Market Bubble
Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble (PDF) Gazi I. Kara and Cindy M. Vojtech Abstract: We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis…
Federal Reserve: FEDS | On Intergenerational Immobility – Evidence that Adult Credit Health Reflects the Childhood Environment
March 2017 (Revised November 2017) On Intergenerational Immobility: Evidence that Adult Credit Health Reflects the Childhood Environment (PDF) Sarena Goodman, Alice Henriques, and Alvaro Mezza Abstract: Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and…
CFPB: Be Money Smart
As part of Financial Literacy Month in April, CFPB supports Money Smart Week (April 21–28, 2018) as a way to help you be smart about money. Lots of free financial education classes and seminars are held by local and regional organizations throughout the United States for consumers like you to attend. The topics of these…
FEMA: Flooded Louisiana Schools Receive $14 Million More in Recovery Funding
Approximately $14 million in federal disaster aid will support schools in Ascension, East Baton Rouge and Tangipahoa parishes with recovery and repair efforts following the August 2016 floods. Some repair projects received supplemental funding to enhance construction, reduce flood damage and break the cycle of repetitive losses. Students and schools in these parishes will benefit…
FEMA: Additional Assistance Available to Repair Disaster-Damaged Infrastructure in California
SACRAMENTO – Seven California counties impacted by the October 2017 wildfires will have additional federal assistance for permanent repair and replacement of disaster-damaged infrastructure. An amendment to the President’s major disaster declaration of Oct. 10, 2017 expands FEMA’s Public Assistance (PA) program for Butte, Lake, Mendocino, Napa, Orange, Sonoma and Yuba counties. The counties were…
HUD: $616 Million in Grants Awarded to Help Florida Recover from Hurricane Irma
The U.S. Department of Housing and Urban Development (HUD) today awarded $615,922,000 to help hard-hit areas in the State of Florida to recover from Hurricane Irma. The grant announced today by the Trump Administration is provided through HUD’s Community Development Block Grant – Disaster Recovery (CDBG-DR) Program and will support the repair of damaged homes,…
SBA: Economic Injury Disaster Loans Offered to Small Businesses in Florida Affected by Hurricane Irma
Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in the declared counties of Florida that have suffered financial losses as the result of Hurricane Irma, should consider applying for an Economic Injury Disaster Loan from the U.S. Small Business Administration. The SBA’s Economic Injury Disaster Loans (EIDLs)…
FHFA: U.S. House Prices Rise 1.4 Percent in Third Quarter 2017
U.S. house prices rose 1.4 percent in the third quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.5 percent from the third quarter of 2016 to the third quarter of 2017. FHFA’s seasonally adjusted monthly index for September was up 0.3 percent from August. The…