Regulators Release List of Distressed, Underserved Nonmetropolitan Locations
The federal bank regulatory agencies announced the 2023 list of distressed or underserved nonmetropolitan census tracts. Revitalization or stabilization activities in these areas are eligible to receive Community Reinvestment Act consideration. Portions of 53 Nebraska counties are included on the list.
View the List
FHA to Require Additional Form for Mortgage Originations
Beginning Aug. 28, the Federal Housing Administration (FHA) will require lenders to complete the Supplemental Consumer Information Form (SCIF) when originating mortgages for FHA insurance. The SCIF gives borrowers an opportunity to identify language preferences and provide information on any housing counseling and homeownership education they have received.
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SBA Inspector General Releases Pandemic Assistance Fraud Report
According to a report from the Inspector General of the Small Business Administration (SBA), an estimated $200 billion in pandemic assistance, including loans from the Paycheck Protection Program and Economic Injury Disaster Loans, was potentially fraudulent. In response to the report, the SBA said the Inspector General's findings contain "serious flaws" that exaggerate the extent of fraud and inadvertently mislead the public into thinking that their collaborative efforts had little impact on preventing fraudulent activities. The agency estimates that approximately $36 billion of the pandemic relief funds were acquired through fraudulent means.
Read the Report
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