FHFA: COVID-Related Loan Flexibilities Further Extended Until January 31st
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until January 31, 2021. The changes are to ensure continued support for borrowers during the COVID-19 national emergency. The flexibilities were set to expire on December 31, 2020. Extended flexibilities include: Alternative appraisals on…
EDA: $360,000 in CARES Act Recovery Assistance Invested to Support Statewide Tourism Economic Recovery Strategy in Louisiana
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $360,000 grant to the Louisiana Office of Tourism, Baton Rouge, Louisiana, to support a statewide economic recovery strategy in a key tourism sector. The project will be matched with $90,000 in local funds. “This investment comes at a crucial time to help…
Census Bureau: Small Business Pulse Survey Phase 3 Weekly Data Released
The U.S. Census Bureau today released new data from the third phase of the Small Business Pulse Survey. Data collection began November 9, 2020. Results will be released weekly starting November 19, 2020, through January 14, 2021. No changes were made to the questionnaire for this phase. Data are available through the Small Business Pulse Survey Interactive…
Census Bureau: Household Pulse Survey Phase 3 Biweekly Data Released
The U.S. Census Bureau today released new data from the third phase of the experimental Household Pulse Survey. The Household Pulse Survey is the result of an effort by the Census Bureau and other federal statistical agencies to document temporal trends in how individuals are experiencing business curtailment and closures, stay-at-home orders, school closures, changes in the…
FHFA: Foreclosure and REO Eviction Moratoriums Extended
Foreclosure moratorium applies to Enterprise-backed mortgages; eviction moratorium applies to Enterprise-owned properties Today, to help borrowers at risk of losing their home due to the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will extend the moratoriums on single-family foreclosures and real estate owned (REO)…
Federal Reserve: Board Announces Extension Through March 31, 2021 for Several of Its Lending Facilities
Facilities were generally scheduled to expire on or around December 31 The Federal Reserve Board on Monday announced an extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31. By backstopping critical short-term funding markets, these facilities are supporting market functioning and enhancing…
Census Bureau: Small Business Pulse Survey Phase 3 Weekly Data Released
The U.S. Census Bureau today released new data from the third phase of the Small Business Pulse Survey. Data collection began November 9, 2020. Results will be released weekly starting November 19, 2020, through January 14, 2021. No changes were made to the questionnaire for this phase. Data are available through the Small Business Pulse Survey Interactive…
EDA: $1.49 Million in CARES Act Recovery Assistance Invested to Expand Healthcare Delivery Capacity on Coquille Indian Tribe’s Kilkich Reservation
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.49 million CARES Act Recovery Assistance grant to the Coquille Indian Tribe, North Bend, Oregon, to purchase equipment and supplies needed to expand patient capacity and respond to the coronavirus pandemic through the Ko-Kwel Wellness Center, currently…
Interim Final Rule Provides Temporary Relief to Community Banking Organizations Due to Coronavirus Response
The federal bank regulatory agencies on Friday announced an interim final rule that provides temporary relief for certain community banking organizations related to certain regulations and reporting requirements as a result, in large part, of their growth in size from the coronavirus response. Community banking organizations are subject to different rules and requirements based on…
Federal Reserve: New York Fed Releases Report About Credit Access and Debt Payment for Low-Income Americans
The Federal Reserve Bank of New York today released a report on the effects COVID-19 has had on low-income Americans’ ability to access credit and pay down debt. The report, “State of Low-Income America: Credit Access & Debt Payment,” uses data from the New York Fed’s Consumer Credit Panel, which is based on Equifax credit…