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Inside Washington (07/02/2012)
  • WASHINGTON (7/3/12)--Regulatory agencies Friday announced the availability of the 2012 list of distressed or underserved nonmetropolitan middle-income geographies where revitalization or stabilization activities will receive Community Reinvestment Act (CRA) consideration as "community development." "Distressed nonmetropolitan middle-income geographies" and "underserved nonmetropolitan middle-income geographies" are designated by the agencies in accordance with their CRA regulations. The criteria for designating these areas are available on the Federal Financial Institutions Examination Council website (http://www.ffiec.gov/cra/). The designations reflect local economic conditions, including triggers such as unemployment, poverty and population changes. The U.S. Census Bureau revised some census tract boundaries as a result of the 2010 census. The current list of distressed or underserved nonmetropolitan middle-income geographies does not reference the 2011 designation. Geographies on the 2012 list will not necessarily have a corresponding 2011 geography  …
  • WASHINGTON (7/3/12)--April foreclosure statistics from Lender Processing Services (LPS) were inaccurate, said the Federal Housing Administration (FHA) on Friday. LPS provides statistical services to several federal agencies, as well as state and local governments. Statistics released by LPS in May showed FHA foreclosure starts had increased 73% in April, to 63,129 from 36,311 in March (American Banker July 2). The agency said LPS reported a higher number of monthly FHA foreclosure starts than FHA's data show, the agency said. LPS uses data supplied by the Department of Housing and Urban Development, which oversees FHA. FHA and LPS they are working together to identify the data discrepancy


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