Also: FHFA allows GSEs to purchase mortgages in forbearance; SBA EIDL applicants suffer data breach
NAFCU TODAY | The News You Need Daily.
April 23, 2020
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House set to vote on more PPP funding [ [link removed] ]
Members of the House are returning to Washington today to vote on the coronavirus relief package that includes over $300 billion in additional funding for the Small Business Administration's paycheck protection program (PPP). The Senate passed the package Tuesday; the president is expected to sign the legislation after House passage.
FHFA allows GSEs to buy mortgages in forbearance [ [link removed] ]
The Federal Housing Finance Agency (FHFA) Wednesday announced the government-sponsored enterprises (GSEs) will be allowed to purchase single-family mortgages in forbearance that meet specific eligibility criteria. FHFA Director Mark Calabria said purchases of "these previously ineligible loans will help provide liquidity to mortgage markets and allow originators to keep lending."
SBA data breach affects thousands of EIDL applicants [ [link removed] ]
A data breach of the Small Business Administration's (SBA) online application system for Economic Injury Disaster Loans (EIDLs) last month may have exposed the personal information of nearly 8,000 businesses to other program applicants.
SBA publishes info on loan programs, fraud amid coronavirus [ [link removed] ]
As Congress continues to work on providing the Small Business Administration's (SBA) paycheck protection program with additional funding, the SBA has released additional guidance on the program along with notices aimed at equipping lenders with important information as they provide relief to borrowers amid the coronavirus pandemic.
NAFCU, CFPB discuss CU operational challenges of stimulus checks [ [link removed] ]
NAFCU Wednesday shared with the CFPB credit union concerns regarding the operational challenges posed by handling stimulus payment checks and potential regulatory relief the bureau could provide under Regulation CC. The Treasury Department began mailing physical checks to stimulus payment recipients this week.
Today: Regulators host webinar on becoming PPP lender [ [link removed] ]
Federal financial regulators, including the NCUA, are hosting a joint webinar today with the Small Business Administration (SBA) on how to become a lender under the new paycheck protection program (PPP). The webinar is intended for those who are not currently SBA-approved lenders.
NCUA announces new office to promote accountability, ethical conduct [ [link removed] ]
The NCUA Wednesday announced the creation of a new Office of Ethics Counsel, which was approved by the board during its closed meeting in March.
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