CDFI Fund: CY 2021 Round of New Markets Tax Credit Program Opened
$5 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2021 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is providing the NOAA on its website in anticipation…
FDIC: New Office of Minority and Community Development Banking Created to Support Mission-Driven Banks
Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams today announced the creation of a new office to support the agency’s ongoing strategic and direct engagement with Minority Depository Institutions (MDIs), Community Development Financial Institution banks (CDFIs), and other mission-driven banks. The new office will further promote private sector investments in low- and moderate-income (LMI) communities. …
HUD: More than $2 Billion Allocated to Advance Equitable Disaster Recovery, Build Climate Change Resilience
The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery (CDBG-DR) and CDBG-Mitigation (CDBG-MIT) funds appropriated in the continuing resolution, the Extending Government Funding and Delivering Emergency Assistance Act (PL 117-43; the Act), signed into law on September 30, 2021. These allocations underscore HUD…
FHFA: Two Measures Advancing Housing Sustainability and Affordability Announced
Expands Eligibility for Fannie Mae’s and Freddie Mac’s Refinance Programs for Low- and Moderate-Income Borrowers and Restores Desktop Appraisal Flexibility The Federal Housing Finance Agency (FHFA) today announced two measures to sustainably advance the affordability of homeownership for mortgage borrowers across the nation, especially those in underserved communities. “Expanding eligibility for low- and moderate-income families to refinance…
HUD: Over $15 Million Awarded in Research Grants to Reduce Housing-Related Health Hazards and Improve Energy Efficiency
Funding to improve methods to identify and control key residential hazards The U.S. Department of Housing and Urban Development (HUD) today awarded $15.7 million to 18 universities, public health, and housing organizations to conduct housing-related hazard and energy efficiency research studies. Provided through HUD’s Office of Lead Hazard Control and Healthy Homes (OLHCHH), the research…
CFPB: Report Finds Consumer Complaint Submission Patterns Vary by Demographic Characteristics of Census Tract
The Consumer Financial Protection Bureau (CFPB) today released its first in-depth report analyzing complaint submission patterns by U.S. Census tract. The report, “Consumer complaints throughout the credit life cycle, by demographic characteristics,” finds that the complaints from wealthier communities and communities with higher percentages of white, non-Hispanic residents were more frequently about loan origination and…
HUD: $143 Million in Grants to Support Construction and Project Rental Assistance for New Multifamily Housing and Very Low-Income Seniors
The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs announced on Wednesday that it has awarded $143 million in grants to non-profit organizations across the country to support the development of new affordable multifamily rental housing along with ongoing project rental assistance for very low-income seniors. The awards were made…
HUD: Availabilty of More Than $180 Million in COVID-19 Supplemental Funding for Multifamily Property Owners Participating in Assisted Housing Programs Announced
New application period allows owners of multifamily housing for low-income elderly, persons with disabilities, and Section 8 contracts to apply for funds to cover costs to prevent and respond to COVID-19 The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs announced on Thursday that it is opening a new application period for…
FDIC: Mission-Driven Bank Fund Launched
$120 million pledged to support Minority Depository Institutions and CDFIs The Federal Deposit Insurance Corporation (FDIC) today announced the launch of a new Mission-Driven Bank Fund, a capital investment vehicle being developed by the FDIC to support insured Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs). As anchor investors, Microsoft and Truist Financial Corporation…
CDFI Fund: FY 2021 CDFI Program and NACA Program Technical Assistance Awards Announced
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 191 organizations more than $24.1 million in awards today. The fiscal year (FY) 2021 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) Technical Assistance Awards will allow Certified Community Development Financial Institutions (CDFIs) and…