By Kerry Smith A coalition including bankers alleges that the national consumer bureau illegally expanded its regulatory reach in creating and enforcing national fair-housing rules. WASHINGTON – The American Bankers Association (ABA) joined a coalition of groups filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) and Rohit Chopra in his official capacity as director of the CFPB. In addition to ABA, the group includes the U.S. Chamber of Commerce, Longview Chamber of Commerce, Texas Bankers Association, Independent Bankers Association of Texas, Texas Association of Business and the Consumer Bankers Association. The litigation challenges CFPB’s recent update to the
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By Kerry Smith Consumer confidence among Floridians barely increased last month (64.1 in Aug. to 64.2 in Sept.) in UF’s latest survey, but it continued its positive direction. GAINESVILLE, Fla. – Consumer sentiment among Floridians inched up one-tenth of a point in September to 64.2 from a revised figure of 64.1 in August. The September survey concluded before Hurricane Ian crossed the state. “While the total economic impacts associated with Hurricane Ian are unknown so far, it creates an additional pressure to the state’s economy” Sandoval says Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of
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By Natalie Kizer One Realtor® who rebuilt after Hurricane Andrew gives advice to brokers and agents devastated by Hurricane Ian.   In 1992, Hurricane Andrew made landfall and is remembered as the most destructive hurricane ever to hit the state of Florida.  Nancy Barreto Hogan, Broker Associate at Douglas Elliman Real Estate, had just built a new 9,600 square-foot office when the storm rolled through. In just a few days, that office was devastated as were many of her agents. Following Hurricane Andrew, 14 of her agents found themselves without homes.  Nancy Barreto Hogan Nancy Barreto Hogan Hogan rallied together
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By Kerry Smith Owners with national flood insurance should get money faster: FEMA ratified a waiver of the full-claims process after Gov. DeSantis and CFO Patronis requested it. TALLAHASSEE, Fla. – The Federal Emergency Management Agency (FEMA) authorized the National Flood Insurance Program (NFIP) to approve a waiver that will allow flood-insurance policyholders to access a portion of their claims without going through the full claims process. The change is based on a request submitted by Gov. Ron DeSantis and Florida Chief Financial Officer Jimmy Patronis. “FEMA granted a waiver that will allow National Flood Insurance Program policyholders to access
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By Kerry Smith A federal program operated by Fla. offers unemployment assistance to self-employed workers who will lose income due to damage inflicted by Hurricane Ian. TALLAHASSEE, Fla. – The Florida Department of Economic Opportunity says Disaster Unemployment Assistance (DUA) is available for Florida businesses and residents whose employment or self-employment was lost or interrupted as a direct result of Hurricane Ian. Floridians who live in designated-disaster areas – 17 Florida counties – must file DUA applications by Dec. 30, 2022. Applications after that date will be “considered untimely” and benefits will be denied unless that applicant “provides good cause.”
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By Kerry Smith Mortgages must still be paid after a hurricane, but Fannie Mae, Freddie Mac and FHA have programs to help after a disaster – providing homeowners request it. MCLEAN, Va. – Freddie Mac, Fannie Mae and Federal Housing Administration loans (FHA) back the majority of U.S. mortgages – and each has some kind of program to help homeowners struggling to pay their monthly mortgage payment after a disaster. In all cases, however, a homeowner must initiate the process. Homeowners who don’t know the ownership of their mortgage should start by contacting their servicer – the company they pay
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