CFPB: Report Finds That 9 in 10 of the Highest-Risk Student Loan Borrowers Were Not Enrolled in Affordable Repayment Plans
Nearly Half of the Highest-Risk Borrowers Not Enrolled in an Affordable Repayment Plan Redefault WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau released an analysis of a student loan industry data sample showing that 9 in 10 of the highest-risk borrowers were not enrolled in federal affordable repayment plans. The analysis looks at hundreds…
Federal Reserve: Are Central Cities Poor and Non-White?
By: Jenny Schuetz, Arturo Gonzalez, Jeff Larrimore, Ellen A. Merry, and Barbara J. Robles1 In the U.S., geography has long been viewed as a proxy for income and race. The terms central city or “inner city” are often used as a short-hand for poor and minority neighborhoods, particularly African-American, while suburban dwellers are assumed to be…
CFPB: New Data Documents a Disturbing Cycle of Defaults for Struggling Student Loan Borrowers
New data shows a staggering number of struggling student loan borrowers are trapped in a cycle of default. Last year, nearly 1.2 million borrowers defaulted on a Federal Direct Loan—more than two borrowers every minute. In total, more than 8 million borrowers in the U.S. are in default on a student loan. A default can…
CFPB: Request for Information on Small Business Lending
We have issued a Request for Information on the small business lending marketplace. We aim to learn more about how small businesses engage with financial institutions, with a particular focus on women-owned and minority-owned small businesses. Your responses will enhance our current expertise of the small business lending space, and help us as we work…
CFPB: Exploring Ways to Assess the Availability of Credit for Small Business
WASHINGTON, D.C. – The Consumer Financial Protection Bureau today launched an inquiry into ways to gather and use new and existing information to identify the financing needs of small businesses, especially those owned by women and minorities. Small businesses typically need access to credit to take advantage of growth opportunities, yet public information on this…
SBA: Critical Data and Best Practices Report Released in Evaluating Federal Business Assistance Program
WASHINGTON – The U.S. Department of Commerce and the U.S. Small Business Administration, on behalf of the Evaluating Business Technical Assistance Program working group, today released a report on “Building Smarter Data for Evaluating Business Assistance Programs – A Guide for Practitioners”. The report is authored by program practitioners, economists, statisticians, and evaluation and policy…
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…
HUD: New Residential Sales in March 2017 Report
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau today jointly announced the following new residential sales statistics for March 2017: NEW HOME SALES Sales of new single-family houses in March 2017 were at a seasonally adjusted annual rate of 621,000, according to estimates released jointly today by…
FHFA: House Price Index Up 0.8 Percent in February
Washington, D.C. – U.S. house prices rose in February, up 0.8 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported lack of change in January was revised upward to a 0.2 percent increase. The FHFA monthly HPI is calculated using home sales…