ABA: Report | Farm Banks Increase Ag Lending 5% in 2016
Strong performance, asset quality and capital levels in 2016 WASHINGTON — Farm banks increased agricultural lending by 5.3 percent in 2016 and held $103.4 billion in farm loans at the end of the year, according to the American Bankers Association’s annual Farm Bank Performance Report. Asset quality remained healthy at the nation’s 1,912 farm banks…
FHFA: Index Shows Mortgage Rates Decreased in March
Washington, D.C. – Nationally, interest rates on conventional purchase-money mortgages decreased from February to March, 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 4.12 percent for loans closed in late March, down 15 basis points from 4.27…
CFPB: Safeguarding Against Credit Discrimination | 2016 Fair Lending Report
It is against the law for a lender to discriminate in any aspect of a credit transaction based on certain reasons. Despite this prohibition, we hear from consumers who believe they have been treated differently because of these reasons, including characteristics such as their age, race, national origin, or sex. That’s where the CFPB’s Office…
CFPB: Changes to Regulation C Proposed to Help Industry Company | Looking for Feedback
Today we released a proposal to amend Regulation C to provide certain clarifications that would help companies comply with their data reporting requirements. Regulation C implements the Home Mortgage Disclosure Act (HMDA). The Home Mortgage Disclosure Act (HMDA) requires many financial institutions to maintain, report, and publicly disclose information about mortgages. HMDA was originally enacted…
FDIC: New Resource Announced to Help Community Bankers Understand FHLB Products and Programs
The Federal Deposit Insurance Corporation (FDIC) published a new guide to help community bankers learn more about the programs and products offered by the Federal Home Loan Banks (FHLBs) to facilitate mortgage lending. The Affordable Mortgage Lending Guide, Part III: Federal Home Loan Banks describes many of the products and services offered by FHLBs, including…
ABA: Testimony on 2018 Farm Bill, Credit Issues Faced by Rural Bankers
WASHINGTON — The American Bankers Association testified today before the House of Representatives Agriculture Committee’s Commodity Exchanges, Energy, and Credit Subcommittee, offering the banking industry’s perspective on credit issues in the upcoming Farm Bill and the importance of credit for rural communities. The hearing was conducted by Chairman Austin Scott and Ranking Member David Scott….
OCC: Newsletter Focuses on Innovative Partnerships to Preserve Affordable Housing
WASHINGTON — The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Development Investments newsletter entitled “Preserving Affordable Housing: Innovative Partnerships.” This issue describes the role of national banks and federal savings associations in preserving America’s affordable rental housing and presents examples of how financial institutions and nonprofit organizations…