Government

For those facing financial hardship, the Federal Housing Finance Agency announced Fannie Mae and Freddie Mac will enhance their payment deferral policies to allow borrowers to defer up to six months of mortgage payments.

The Department’s Proposed Rule would revise regulations governing floodplain management and the protection of wetlands to implement the Federal Flood Risk Management Standard.

In examining laws in New York, California, Utah, and Virginia, the Bureau determined that laws covering businesses in these states are not preempted by the federal Truth in Lending Act.

The GSE transfers a combined $926 million of mortgage credit risk to private insurers and reinsurers in its latest two CIRTs as it continues to reduce taxpayer risk by increasing the role of private capital in the mortgage market.

FDIC turns ownership of Silicon Valley Bridge Bank over to First Citizens Bank & Trust Company in a deal that includes the purchase of approximately $72 billion of Silicon Valley Bridge Bank’s assets at a discount of $16.5 billion.

Due to stronger economic performance than expected in Q1, Fannie Mae has pushed back the predicted recession to start sometime in the second half of the year.

The Bureau’s independent funding through the Federal Reserve was ruled to be lawful by a panel of judges in the Second Circuit Court of Appeals. After rulings by two different circuit courts, the case is expected to be heard by the Supreme Court in October.

The U.S. Department of Housing and Urban Development has awarded $54 million to 182 fair housing organizations across the country under its Fair Housing Initiatives Program, with some grants empowering organizations to test for appraisal bias and educate local communities.

The ninth consecutive interest rate increase signaled that the Fed is barreling forward, combating ongoing inflation amid an unstable market and economic turmoil in the aftermath of the failures of SVB and Signature Bank.

At the Low Income Housing Forum, Treasury Department Deputy Secretary Adeyemo reports that nearly 10.8 million Emergency Rental Assistance payments have been made to keep families in their homes.