FHFA: 2016 Report to Congress Released Including Exams of Freddie, Fannie & FHLBs
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its 2016 Report to Congress. The statutorily-required report provides information about FHFA’s 2016 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 Fannie Mae…
SBA: One Month Left to Apply for Disaster Loans in MO, AR and TN
SACRAMENTO, Calif. – Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West today reminded small nonfarm businesses in 11 Missouri counties and neighboring Arkansas and Tennessee counties of the July 10, 2017, deadline to apply for an SBA federal disaster loan for economic injury. These low-interest loans are to offset economic losses because…
CFPB: It’s Not Too Late to Spring Clean Your Finances
Spring cleaning isn’t just for decluttering your home. You can take advantage of the changing seasons to clean up your finances and make sure you know where you stand. These steps can help you clean up your financial life as you work towards your goals. Here’s a few ways to get started spring cleaning your…
CFPB: How to Understand Special Promotional Financing Offers on Credit Cards
CREDIT CARD TERMS By Gail Hillebrand How do you tell the difference between a zero interest and deferred, or “no” interest credit card offer? Look for the “if.” Zero interest offers use language like “0% intro APR on purchases for 12 months.” Deferred interest offers use language like “No interest if paid in full…
CFPB: Bureau Encourages Credit Card Companies to Consider More Transparent Promotions
Bureau Notes that Deferred-Interest Promotions May Lack Transparency, Carry Risks to Consumers WASHINGTON, D.C.– The Consumer Financial Protection Bureau (CFPB) today announced it has sent letters to top retail credit card companies encouraging them to consider using more transparent promotions. Many retailers use credit cards with deferred-interest promotions – offers of no interest for a…
CFPB: Study Finds Consumers in Lower-Income Areas are More Likely to Become Credit Visible Due to Negative Records
Consumers In Higher-Income Areas More Likely Than Those in Lower-Income Areas to Establish Credit with a Credit Card or Co-Borrower WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a study on the transition to credit visibility that found that the way consumers establish credit history can differ greatly based on economic background….
HUD: National Homeownership Month Kicks Off
WASHINGTON – The Trump Administration proclaimed June as National Homeownership Month, a time to reflect upon the impact owning a home has on household wealth, neighborhood stability and the nation’s broader economic health. The theme of National Homeownership Month 2017 is “Find Your Place in a New Era of Homeownership.” Read the President’s Homeownership Month Proclamation….
FHFA: Further Data Released on Non-Performing Loan Sales
Washington, DC – The Federal Housing Finance Agency (FHFA) today released its third 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 and outcomes for borrowers as of December 31, 2016. The sale of NPLs…
Federal Reserve: New York Fed Examines Regional Household Debt and Credit Trend
NEW YORK—The Federal Reserve Bank of New York today issued Regional Household Debt and Credit Snapshots, which examine borrowing and indebtedness trends throughout the Federal Reserve’s Second District, and are analogous to the national Quarterly Report on Household Debt and Credit. They include data about mortgages, home equity lines, student loans, credit cards, auto loans…