SBA: Office Rolls Out New Lender Match Tool To Connect Small Businesses And Lenders
Administrator Linda McMahon, head of the U.S. Small Business Administration, today announced the launch of Lender Match, the SBA’s online referral tool connecting small business borrowers with participating SBA lenders. Lender Match is an upgrade to LINC (Leveraging Information and Networks to access Capital), introduced as a pilot in 2015. “The SBA’s mission to help…
FHFA: Index Shows Mortgage Rates Increased in August 2017
Nationally, interest rates on conventional purchase-money mortgages increased from July to August, 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 4.05 percent for loans closed in late August, up 6 basis points from 3.99 percent in July….
Federal Reserve: FEDS Notes | The Decline In Lending To Lower-Income Borrowers By The Biggest Banks
Neil Bhutta, Steven Laufer, and Daniel R. Ringo1 Data collected under the Home Mortgage Disclosure Act (HMDA) reveal that the largest banks have significantly reduced their share of mortgage lending to low- and moderate-income (LMI) households in recent years. We present evidence suggesting that this reduction is explained in part by a decrease in the…
Federal Reserve: Residential Mortgage Lending In 2016 – Evidence From The Home Mortgage Disclosure Act Data
Neil Bhutta, Steven Laufer, and Daniel R. Ringo This article provides an overview of the 2016 data reported under the Home Mortgage Disclosure Act of 1975 and analyzes mortgage market activity over time as well as lending patterns across different demographic groups and lender types. The number of home-purchase originations was about 10 percent higher…
Federal Reserve: FEDS Notes | Are Rising Home Values Restraining Homebuying For Lower-Income Families?
Neil Bhutta, Steven Laufer, and Daniel R. Ringo1 Since bottoming out in 2012, house prices in the U.S. have been recovering rapidly. According to Zillow, the median home value has been growing about 6 percent per year. While incomes have also been recovering, they have not quite kept pace with home prices. The median household…
FDIC: Webinar To Highlight Spanish-Language Financial Education Resources
In recognition of Hispanic Heritage Month, the Federal Deposit Insurance Corporation (FDIC) invites organizations that serve the U.S. Spanish-speaking population and members of their communities to participate in an upcoming webinar that will highlight the agency’s Spanish-language consumer resources. The webinar will be conducted in Spanish and is scheduled for October 12, from 3:00 p.m….
OCC: Bank Supervision Operating Plan for Fiscal Year 2018 Released
The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2018. The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual banks. OCC staff members use this plan to guide their supervisory priorities, planning, and resource allocations. The plan…
CFPB: FFIEC Announces Availability Of 2016 HMDA Data On Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 6,762 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data cover 2016 lending activity and include: Applications, originations, purchases, sales of…
SBA: SBA Adopts Office Of Management And Budget’s NAICS 2017 Revision For Its Table Of Small Business Standards
The U.S. Small Business Administration issued a final rule adopting the U.S. Office of Management and Budget’s (OMB) North American Industry Classification System (NAICS) revision for 2017 (NAICS 2017) for its table of small business size standards. The final rule is published in the Federal Register at: https://www.gpo.gov/fdsys/pkg/FR-2017-09-27/pdf/2017-20705.pdf NAICS 2017 created 21 new industries by reclassifying, combining, or…
FHFA: Input Requested On Draft Strategic Plan For Fiscal Years 2018-2022
The Federal Housing Finance Agency (FHFA) is requesting input on FHFA’s Strategic Plan: Fiscal Years 2018-2022. FHFA’s draft strategic plan reflects the Agency’s priorities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises). FHFA is requesting input from Members of Congress, the…