The Federal Home Loan Bank of New York has announced a commitment to provide up to $250 million in disaster relief funds through its community lending programs.The FHLBank said its member institutions can tap the low-cost loans to meet the short-, medium-, and long-term needs of communities designated disaster areas by the Federal Emergency Management Agency. "Several designated communities in upstate New York and western New Jersey have been hard hit by recent severe flooding," the bank said. "The $250 million CLP commitment can specifically be used for housing, small-business, and economic development lending."
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
5h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
6h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
9h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
11h ago -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16