SBA: Disaster Recovery Lending Increased for Small Businesses through Express Bridge Loan Pilot Program
The U.S. Small Business Administration prides itself in the efforts it takes to help small business owners recover from disasters. The SBA 7(a) Loan Program is aiding in that effort by offering the Express Bridge Loan Pilot Program. This Pilot Program was authorized on October 16, 2017 and is available through September 30, 2020. With…
FHFA: Foreclosure Preventions Top 4.1 Million In 2018 First Quarter
The Federal Housing Finance Agency (FHFA) today released its first quarter 2018 Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 68,378 foreclosure prevention actions in the first quarter of 2018, bringing the total number of foreclosure prevention actions to 4,108,636. The Enterprises’ serious delinquency rate dropped to 1.1 percent…
OCC: Mortgage Performance Unchanged in First Quarter 2018
Performance of first-lien mortgages remained unchanged during the first quarter of 2018 compared with a year earlier, according to the Office of the Comptroller of the Currency’s (OCC) quarterly report on mortgages. The OCC Mortgage Metrics Report, First Quarter 2018, showed 95.6 percent of mortgages included in the report were current and performing at the…
Interagency Guidance: Host State Loan-to-Deposit Ratios 2018 Update Issued
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the…
FHFA: Fifth Report on Non-Performing Loan Sales Released
The Federal Housing Finance Agency (FHFA) today released its fifth report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold through December 31, 2017, and reflects borrower outcomes as of December 31, 2017 on NPLs sold…
FHFA: Index Shows Mortgage Rates Increased in April 2018
Nationally, interest rates on conventional purchase-money mortgages increased from March to April, 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 4.51 percent for loans closed in late April, up 2 basis points from 4.49 percent in 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…