FHFA: New Protections Announced After COVID-19 Foreclosure and REO Eviction Moratoriums End
Servicers of Enterprise-backed mortgages will be prohibited from making most first filings for foreclosure before new CFPB rules take effect August 31 Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) servicers will not be permitted to make a first notice or filing for foreclosure that would be…
CFPB: Rules Issued to Facilitate Smooth Transition as Federal Foreclosure Protections Expire
Regulations Will Help Prevent Surge of Foreclosures and Protect American Economy The Consumer Financial Protection Bureau (CFPB) today finalized amendments to the federal mortgage servicing regulations to reinforce the ongoing economic recovery as the federal foreclosure moratoria are phased out and which will help protect mortgage borrowers from unwelcome surprises as they exit forbearance. The…
HUD: FHA Introduces More Measures to Help Homeowners Struggling Due to COVID-19
One-month extension of foreclosure and eviction moratoria, expanded initial forbearance request timeframes, and new outreach to struggling homeowners provide expanded recovery help. The Federal Housing Administration (FHA) on Friday announced more measures to help homeowners with FHA-insured mortgages who are struggling financially due to the COVID-19 pandemic. These measures will provide additional, immediate relief while also expanding…
Federal Reserve: Extension of PPP Liquidity Facility for Final Time Announced through July 30, 2021
The Federal Reserve Board on Friday announced it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month to July 30, 2021. The extension is being made as an operational accommodation to allow additional processing time for banks, community development financial institutions, and other financial institutions to…
Census Bureau: Small Business Pulse Survey Phase 5 Weekly Data Released
The U.S. Census Bureau today released new data from the fifth phase of the Small Business Pulse Survey (SBPS). Data collection began May 17. Results will be released weekly May 27 to July 22. The SBPS includes questions on small business operations and finances, requests and receipt of assistance, COVID-19 vaccinations and testing, measures of overall well-being, and…
FHFA: COVID-19 Foreclosure and REO Eviction Moratoriums Extended until July 31, 2021
Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until July 31, 2021. The foreclosure moratorium applies to Enterprise-backed, single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by an…
EDA: $2.9 Million in CARES Act Recovery Assistance Invested in New Water Treatment Plant to Spur Business Expansion in Sophia, WV
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.9 million CARES Act Recovery Assistance grant to the Raleigh County Public Service District, Sophia, West Virginia, for construction of a new water treatment plant to support business expansion. This EDA grant, to be matched with…
EDA: $2.3 Million in CARES Act Recovery Assistance Invested to Support Business Expansion and Job Growth in Paris, KY
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.3 million CARES Act Recovery Assistance grant to the Paris-Bourbon County Economic Development Authority, Paris, Kentucky, for roadway infrastructure improvements to accommodate the expansion of the Paris-Bourbon County Industrial Park and support future business needs. This…
EDA: $1.9 Million in CARES Act Recovery Assistance Invested to Spur Entrepreneurship and Innovation in Youngstown, OH
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.9 million CARES Act Recovery Assistance grant to the Youngstown Edison Incubator Corporation (Youngstown Business Incubator), Youngstown, Ohio, to renovate a 65,000 square foot building and further enhance the organization’s capacity to spur entrepreneurship and innovation…
EDA: $588,000 in CARES Act Recovery Assistance Invested to Support Maryland Businesess as They Recover from the Coronavirus Pandemic
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $588,000 CARES Act Recovery Assistance grant to the Maryland Department of Commerce, Baltimore, Maryland, to support the growth and resiliency of coronavirus disrupted businesses by expanding the Maryland Defense Diversification Assistance (MDDA) program to serve the current needs of the broader business…