Government-Guaranteed Loans

News & Analysis as of

More Federal Money for Manufacturers

As reported by Industry Week, the U.S. Secretary of Commerce recently announced that 12 additional communities will receive designations under the Obama Administration’s Investing in Manufacturing Communities Partnership...more

HUD Proposes to Establish Deadline for FHA-Approved Lenders to File Insurance Claims

On July 6, HUD’s Federal Housing Administration (FHA) proposed a rule to establish a maximum time period for FHA-approved lenders to file insurance claims for benefits following the foreclosure of FHA-insured mortgages....more

Nevada HOA Foreclosures Cannot Extinguish Deeds of Trust Held by Fannie Mae, Holds U.S. District Court

Yesterday, the U.S. District Court for the District of Nevada issued an important ruling concerning the litigation over whether homeowners’ association foreclosures under Nevada’s super-priority lien statute (NRS 116.3116)...more

FHA Announces Updated Defect Taxonomy to Clarify its Plan for Classifying Loan Defects Found in its Single-Family Loan Portfolio

On June 18, the FHA released its Single-Family Housing Loan Quality Assessment Methodology (“Defect Taxonomy”), a framework outlining the agency’s plans to identify and capture information related to loan defects found in...more

USDA Announces Energy Efficiency And Renewable Energy Grants

On April 22, 2015, U.S. Department of Agriculture (USDA) Secretary Tom Vilsack celebrated Earth Day by announcing that USDA "is providing more than $112 million in loans and grants to help rural communities build and upgrade...more

FHFA: G-Fees to Remain at Current Levels

On April 17, FHFA released the results of its Fannie Mae and Freddie Mac Guarantee Fee Review. The FHFA’s review considered the public responses to its June 2014 request for input, and according to the agency’s fact sheet,...more

Department of Energy Loan Programs Office Update: Recent Announcements, Insights, and Upcoming Workshops

Throughout 2014, the Department of Energy (DOE) Loan Programs Office (LPO) announced nearly $25 billion in new loan guarantee authority across three solicitations and promoted the success of its existing portfolio, while...more

New HECM Rules For Surviving Spouses Fall Short

The Department of Housing and Urban Development recently published Mortgagee Letter 2015-03, which provides servicers of FHA-insured Home Equity Conversion Mortgages a way to proceed after a borrower dies and is survived by a...more

Blog: Opportunities for Small Businesses in the Government Market

The US Government is the single largest purchaser of goods and services in the world, and its annual goal is to award 23% of its prime contract dollars to small businesses. For fiscal 2013, that amounted to nearly $84...more

USDA Revises Renewable Energy Loan Guarantees

On December 29, 2014, the U.S. Department of Agriculture (USDA) published the final rule for the Rural Energy for America Program (REAP). REAP is intended to help mainly businesses, as well as some state, local, and tribal...more

SBA Requests Comments on Franchise Loan Program

The U.S. Small Business Administration (SBA) is requesting comments from the public on all aspects of its franchise lending program. The SBA issued its notice and request for comment December 8, 2014....more

California Public Utilities Commission to Approve Grant Program to Promote Broadband Internet for Public Housing

Application Submission Scheduled for Mid-December Through Mid-January - The California Public Utilities Commission is scheduled to approve the California Advanced Services Fund Public Housing Broadband Grant Guidelines...more

Court Holds Small Business Administration and Farm Service Agency Must Consult on Loan Guarantees

A federal district court in Arkansas recently issued a decision clarifying that the obligation to consult under section 7(a)(2) of the Endangered Species Act (ESA) extends to the Small Business Administration and the Farm...more

Nevada District Court Bars Foreclosure Sale of First Lien HUD-Insured Mortgage

Recently, a federal district court held that a homeowners association (HOA) foreclosure sale is not valid against HUD-insured loans. The District Court noted that the Ninth Circuit has held that federal rather than state law...more

Pennsylvania Amends Act 47 to Give the Commonwealth More Oversight and its Municipalities Less Time to Reorganize

Pennsylvania’s legislature recently approved House Bill No. 1773, an overhaul to its Municipalities Financial Recovery Act, commonly known as “Act 47.” HB 1773 was signed into law by Governor Tom Corbett on October 31, 2014....more

Act 47: Pennsylvania Says Enough Is Enough. Or Is It?

Pennsylvania Governor Tom Corbett today signed House Bill 1773 (HB 1773) into law, significantly overhauling the Municipalities Financial Recovery Act, known as Act 47. Enacted in the 1980s to provide assistance to...more

$91 Million Loan Guarantee To Louisiana Biofuel Plant

On October 3, 2014, Agriculture Secretary Vilsack announced that USDA reached an agreement with Silicon Valley Bank to provide a $91 million Biorefinery Assistance Program loan guarantee to Cool Planet for a biofuel plant in...more

USDA awards $68 million for energy projects

The U.S. Department of Agriculture has announced $68 million in grants and loan guarantees for renewable energy and energy efficiency projects. The latest round of awards under the agency's Rural Development arm's Rural...more

Foreclosing on FHA-Insured Mortgage in Violation of HUD Regulations Could Constitute Breach of Contract

Eleventh Circuit Rules that Failure to Comply with HUD Regulations in Foreclosing on FHA-Insured Mortgage – Including the Requirement of Having a Face-to-Face Meeting With the Debtor – Can Constitute a Breach of...more

VA Announces Upcoming Changes to ARM Disclosure Regulations

On September 5, 2014, the Department of Veterans Affairs (VA) announced in Circular 26-14-25 that it intends to clarify its interest-rate adjustment, disclosure, and notice requirements for ARM and hybrid ARM mortgage loans...more

USDA Awards Fulcrum Sierra Biofuels, LLC $105 Million Loan Guarantee

The U.S. Department of Agriculture (USDA) has guaranteed a $105 million loan through Bank of America, N.A. to help Fulcrum Sierra Biofuels build a plant in McCarran, Nevada that would convert municipal waste into renewable...more

Summary of HUD’s LEAN 232 Program E-Mail Blast: Office of Residential Care Facilities (ORCF), July 2014

In response to HUD’s February request for comments on the new loan documents, HUD has posted revised Section 232 documents. The changes to the documents include a few substantive revisions, as well as edits resolving...more

Energy & Environment Update - July 2014

In This Issue: - Despite Hurdles, U.S. Offshore Wind Industry Poised for Growth - Energy and Climate Debate - Congress - Administration - Department of Commerce - Department of...more

When the Minimum is Not Enough: Eleventh Circuit Rules that Lenders May Require Borrowers to Obtain More than the Minimum Flood...

The United States Court of Appeals for the Eleventh Circuit recently resolved a district court split regarding minimum flood insurance coverage by holding that a lender may require a borrower who has a federally-insured...more

Department Of Energy Makes Available $4 Billion In Loan Guarantees For Renewable Energy

On July 3, 2014, the U.S. Department of Energy (DOE) announced that it is making an additional $4 billion available in loan guarantees for innovative renewable energy and energy efficiency projects located in the U.S. that...more

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