May28
(TriceEdneyWire.com) – As the U. S. House of Representatives awaits the political fate of another multi-trillion dollar coronavirus relief bill, called the “Heroes Act”, Black Wealth 2020 (BW2020), a national catalyst for economic justice for African-Americans, is pressing Congressional leaders to unify for equity for the millions of pandemic victims who have yet to receive Continue Reading
May21
As NPQ has noted, the federal government has regularly used the pandemic as cover to surreptitiously implement unpopular policy changes. In March, this meant rolling back mileage rules for cars. This month, it means rolling back rules that promote bank investment in low and moderate-income communities, and especially communities of color, even if the rhetoric of modernization is employed Continue Reading
May20
There is now improved guidance on calculation methods, definitions of forgivable expenses and the documents that must be submitted with the forgiveness request. The SBA released its Paycheck Protection Program (PPP) Loan Forgiveness Application and clarified a few critical definitions and documentation requirements in their instructions. The forgiveness application is completed by the small-business borrower and is Continue Reading
May19
For the past five years Pat Kinsel, CEO of Notarize, chiseled away at getting his remote online notarization (RON) technology used in the housing industry to make the mortgage process faster and easier. He made sure it met industry standards, including the ability to sell mortgages on the secondary market using RON. What took Kinsel years Continue Reading
May15
Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy. Coronavirus Funding Options Click here to learn more about available SBA loan and debt relief options. Our nation’s small businesses are Continue Reading
May14
Third wave of relief funding targeted for states and insular areas. WASHINGTON – The U.S. Department of Housing and Urban Development Secretary Ben Carson today announced the allocation of a third wave in CARES Act coronavirus relief funding. This wave totaling $1 billion is through the Community Development Block Grant (CDBG) program. To date, HUD has provided Continue Reading
May14
Stay informed as you manage your credit health through the Coronavirus outbreak. As the number of coronavirus cases spreads, it is also having negative impact on the financial health of the economy at large and the economic well-being of individuals across the United States. The unusual nature of this pandemic has resulted in the temporary Continue Reading
May13
The Consumer Financial Protection Bureau (CFPB), the Federal Housing Finance Agency (FHFA), and the Department of Housing and Urban Development (HUD) launched a new mortgage and housing assistance website. The website was developed to ensure homeowners and renters have the most up-to-date housing assistance information during COVID-19. The agencies are offering extensive CARES Act assistance and Continue Reading
May13
Applicants are supposed to receive emergency cash within three days. Many have been waiting weeks. An emergency loan program intended to get money swiftly into the hands of small businesses has all but collapsed under an unprecedented crush of applications and a shortage of funds, overwhelming agency officials and prompting urgent calls for action on Continue Reading
May12
Former MBA chief David Stevens joined the coalition in its letter to federal regulators. A coalition of housing advocacy groups, national and regional civil rights organizations and minority-focused real estate trade associations, joined by former Mortgage Bankers Association chief executive David Stevens, urged the federal government to create one or more liquidity facilities so that mortgage servicers Continue Reading
May08
WASHINGTON, DC – Representatives Chris Pappas (NH-01), Brian Fitzpatrick (PA-01), Gil Cisneros (CA-39), and Greg Steube (FL-17) introduced bipartisan legislation to ensure local chambers of commerce and other nonprofits who support small businesses can receive the federal assistance they need to weather this economic downturn while they continue working to help America’s Main Street businesses. Continue Reading
May05
On Monday morning, Michelle Contri called her lender to inquire about mortgage forbearance after hearing New Jersey Governor Phil Murphy call on lenders to add any suspended monthly obligations to the end of the loan’s life instead of requiring lump sum repayments. US Bank, though, told her that is not possible, Contri says. So, she Continue Reading
Apr29
Uncertain times could spur a desire for the stability of homeownership. At the beginning of this year, I decided to store my belongings and live without a home base for a season, living out my dream of being a true digital nomad and exploring the way people live across the U.S. Since I traveled constantly Continue Reading
Apr17
The IRS says it has started distributing emergency aid payments, the $1,200 per person that’s part of the federal government’s effort to take some economic pressure off individuals in this pandemic. The IRS says it has started distributing emergency aid payments, the $1,200 per person that’s part of the federal government’s effort to take some Continue Reading
Apr11
Last week, Congress passed phase three of its COVID-19 response, the CARES ACT, a $2 trillion stimulus package that has become most well-known for its direct payments of up to $1,200 for many Americans. These payments are a much-appreciated addition to the already enacted policies like the delayed tax deadline, deferred interest on student loan Continue Reading
Apr10
The CARES Act, the legislation just signed into law by President Donald Trump, contains plenty of provisions for those saving for and living in retirement. But experts say those who can take advantage of the new law have lots to consider. The law temporarily loosens the rules on hardship distributions from retirement accounts, giving people Continue Reading
Apr09
Zoom, the videoconferencing software that’s skyrocketed in popularity as much of the globe sits at home due to the coronavirus outbreak, is quickly turning into a privacy and security nightmare. BleepingComputer reports about a newly found vulnerability in Zoom that allows an attacker to steal Windows login credentials from other users. The problem lies with the way Continue Reading
Apr09
Americans struggling to pay their mortgages because they’ve lost a job or income during the coronavirus pandemic can put off that bill for up to a year due to the CARES Act. But while the measures should be creating a feeling of relief, many borrowers have been left anxious because of confusing messages from the Continue Reading
Mar31
WASHINGTON – Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need. The CARES Continue Reading
Mar31
A network of community banks and financial institutions is gearing up to implement one of the most ambitious economic relief programs in U.S. history as small businesses across the country weather the coronavirus and its economic fallout. The $2 trillion coronavirus relief package signed last week, officially known as the CARES Act, includes nearly $350 billion for Continue Reading