FEMA: U.S. Virgin Island Disaster Survivors Eligible for Additional Federal Disaster Assistance
The Virgin Islands Territorial Emergency Management Agency and the Federal Emergency Management Agency (FEMA) announced today that additional disaster assistance is available to the U.S. Virgin Islands. The assistance allows for additional federal funding for debris removal, emergency protective measures, hazard mitigation and permanent infrastructure restoration as a result of Hurricanes Irma and Maria. This…
HUD: Senate Confirms Brian Montgomery to Lead Federal Housing Administration
By a vote of 74-23, the U.S. Senate today confirmed President Donald J. Trump’s nomination of Brian D. Montgomery to serve as Assistant Secretary of Housing at the U.S. Department of Housing and Urban Development (HUD) and Commissioner of the Federal Housing Administration (FHA). Montgomery’s confirmation marks his second term as Assistant Secretary for Housing…
HUD & Census Bureau: New Residential Sales Report for April 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 April 2018: New Home Sales Sales of new single-family houses in April 2018 were at a seasonally adjusted annual rate of 662,000. This is 1.5 percent (±11.8 percent)* below the revised March…
FHFA: 2017 Report to Congress Released
The Federal Housing Finance Agency (FHFA) today released its 2017 Report to Congress. The statutorily-required report provides information about FHFA’s 2017 examinations of Fannie Mae, Freddie Mac (the Enterprises), 11 Federal Home Loan Banks (FHLBanks) and the FHLBanks’ Office of Finance. The report also describes FHFA’s actions as conservator of the Enterprises during the year…
OCC: New Guidance on Installment Lending – Core Principles for Short-Term, Small-Dollar Installment Lending
OCC BULLETIN 2018-14 Summary The Office of the Comptroller of the Currency (OCC) encourages banks to offer responsible short-term, small-dollar installment loans, typically two to 12 months in duration with equal amortizing payments, to help meet the credit needs of consumers. The OCC is issuing this bulletin to remind banks1 of the core lending principles for…
OCC: Comptroller Urges Banks to Meet Consumers’ Short-Term, Small-Dollar Credit Needs
Comptroller of the Currency Joseph Otting today issued the following statement regarding the release of his agency’s bulletin encouraging national banks and federal savings associations to offer responsible short-term, small-dollar installment loans. Millions of U.S. consumers borrow nearly $90 billion every year in short-term, small dollar loans typically ranging from $300 to $5,000 to make…
CFPB: Share Financial Information with Your Spouse Now to Avoid Problems Later
It’s common for couples to share their financial lives but not the responsibility for managing household finances. It might be time-consuming for both of you to review your bills, as well as spending and savings plans each month. But if responsibilities unexpectedly shift due to a sudden illness or loss of a spouse, getting up…
HUD: $2.6 Billion Awarded to Improve and Preserve the Nation’s Public Housing
Housing authorities will use funding to modernize housing for families, seniors To help public housing authorities make needed capital improvements to their properties, the U.S. Department of Housing and Urban Development today allocated more $2.6 billion in annual funding to housing authorities in all 50 states, as well as the District of Columbia, Guam, Puerto…
Federal Reserve: Board Issues Report on the Economic Well-Being of U.S. Households
The Federal Reserve Board’s latest Report on the Economic Well-Being of U.S. Households finds that economic well-being has generally improved over the past five years. The report notes that 74 percent of adults reported they were doing at least OK financially in 2017‑‑up 10 percentage points from the first survey in 2013. Even so, notable…