CDFI Fund: First-Time CDFI Fund Grant Applicants Should Register with SAM.gov ASAP
Process for registering new entities may increase application time Are you interested in applying for an upcoming Community Development Financial Institutions Fund (CDFI Fund) program round, but you haven’t registered in the General Services Administration (GSA) System for Award Management (SAM) yet? Please pay close attention to the following information: Due to recent third-party fraudulent…
FHFA: Progress Update on Fannie Mae and Freddie Mac Credit Risk Transfer Programs
The Federal Housing Finance Agency (FHFA) today issued a Credit Risk Transfer Progress Report describing the status and volume of credit risk transfer (CRT) transactions through the fourth quarter of 2017. The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the…
FHFA: June 2019 Implementation of the New Uniform Mortgage-Backed Security Announced
The Federal Housing Finance Agency (FHFA) today announced that on June 3, 2019 Fannie Mae and Freddie Mac (the Enterprises) will start issuing a new, common security, the Uniform Mortgage-Backed Security (UMBS), in place of their current offerings of TBA-eligible mortgage-backed securities. The new UMBS will be issued through the Enterprises’ joint venture, Common Securitization…
FEMA: Federal Funding for U.S. Virgin Islands Tops $1 Billion
ST. CROIX, Virgin Islands – The Federal Emergency Management Agency and its partners have provided more than $1 billion to households, businesses, territorial agencies and flood insurance policyholders to help them recover from hurricanes Irma and Maria. As of March 19, the funding includes: $74.8 million in Individual Assistance for individuals and households, including rental assistance,…
HUD: Secretary Carson Launches New Financial Controls Including Grant Modernization
U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced new measures to protect the financial integrity of the agency and correct lax internal processes and controls. Secretary Carson directed HUD’s newly appointed Chief Financial Officer, Irving Dennis, to design and implement a transformation plan and lead an internal taskforce to combat…
CDFI Fund: Application Demand for FY 2017 Round of BEA Program Released
REPRESENTS OVER $500 MILLION IN INCREASED LENDING IN DISTRESSED COMMUNITIES The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the application data for the fiscal year (FY) 2017 round of its Bank Enterprise Award Program (BEA Program). A total of 119 applications were received requesting awards of more than…
CDFI Fund: Revised Opportunity Zones Resource Data Now Available
The U.S. Department of the Treasury has released revised information concerning census tracts that are eligible for nomination as Qualified Opportunity Zones (QOZs). Specifically, data in the Opportunity Zones Information Resource has been updated from information provided in a February 8, 2018, release to include all census tracts that meet the New Markets Tax Credit…