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The CFPB's previously announced proposal to amend Regulation B was published in this morning's Federal Register, with a 30-day comment period ending May 4, 2017.

The Department of Housing and Urban Development has published in today's Federal Register a report of administrative actions taken by its Mortgagee Review Board against HUD-approved mortgagees for the fiscal year ending September 30, 2016.

The Federal Emergency Management Agency has published a final rule [82 FR 16122] in today's Federal Register identifying communities in Iowa, Oregon, Tennessee and Texas where the sale of flood insurance will be suspended on April 5, 2017, for noncompliance with the floodplain management requirements of the National Flood Insurance Program. The identified communities are:

• Iowa: Portions of Adair, Adams and Guthrie Counties
• Oregon: Portions of Jackson County
• Tennessee: Portions of Davidson County
• Texas: Portions of Willacy County

The FDIC has released a list of orders of administrative enforcement actions taken against banks and individuals in February. The list includes a total of 14 orders and one notice. The administrative enforcement actions in those orders consisted of one consent order; five removal and prohibition orders; one Section 19 order; five civil money penalties; one prompt corrective action directive; and one notice.

Three institution-affiliated individuals of Banamex USA, Century City, California, were issued civil money penalty orders totaling $190,000 and two of those individuals were also issued prohibition orders.

Civil money penalties were imposed on Heritage Bank, Erlanger, KY ($8,500); Park Bank, Holmen, WI ($6,300); and United Bank, Osseo, WI ($3,600) for violations of the Flood Disaster Protection Act. The list of specific violations in paragraphs 7 - 42 of the Findings of Fact and Conclusions of Law portion of the Park Bank order are particularly detailed and may be useful for compliance training.

BOL's Andy Zavoina, who watches for trends in Flood Insurance penalties, notes that the FDIC issued the same number of flood CMPs in the three months from December 2016 through February 2017 that it issued in all of 2016, and that the $126,000 in penalties it imposed in those same three months is nearly triple the 2016 total of $45,000.

The Federal reserve has posted the annual revision of the G.17 industrial production and capacity utilization statistical report.

OFAC has announced it has taken action to disrupt the Islamic State of Iraq and Syria's (ISIS) global financial and facilitation networks by designating two individuals as Specially Designated Global Terrorists pursuant to Executive Order (E.O.) 13224. The individuals designated are Syria- and Iraq-based ISIS members who provide financial and operational support for ISIS's recruitment and attack plotting in Indonesia, Malaysia, and elsewhere in Southeast Asia. The State Department also designated five individuals under E.O. 13224. As a result of those actions, all property and interests in property of the seven individuals subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.

For additional information, see our OFAC Update.

The OCC has published the latest edition of its Community Development Investments newsletter entitled "Preserving Affordable Housing: Innovative Partnerships." The issue describes the role of national banks and federal savings associations in preserving America’s affordable rental housing and presents examples of how financial institutions and nonprofit organizations have utilized federal and state programs, tax incentives, loan funds, and the secondary market to create innovative partnerships in urban and rural areas. This edition also reviews how these activities may be eligible for Community Reinvestment Act consideration.

The Federal Housing Finance Agency (FHFA) has issued a Progress Report summarizing the 2016 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA's three strategic objectives as conservator: Maintain, Reduce, and Build. The Progress Report details efforts made to address borrower impediments to credit access while transitioning from crisis era policies and programs to those that will help borrowers and communities that are still struggling. The report also describes advances made in the Enterprises' credit risk transfer programs and other activities designed to increase the role of private capital in the secondary mortgage market and reduce risk for taxpayers. The report also describes the successful implementation of Release 1 of the Common Securitization Platform, a significant milestone toward the ultimate goals of building a new securitization infrastructure and issuance by both Enterprises of a single, common security. In addition, the Progress Report documents Fannie Mae's and Freddie Mac's ongoing actions to promote diversity and inclusion in furtherance of the strategic goals of the conservatorships.

The Federal Reserve Board has released the G.20 finance companies report for January 2017. The report covers owned and managed receivables outstanding plus auto loans: terms of credit not seasonally adjusted.

The FHFA index indicates mortgage rates increased in February 2017. Nationally, interest rates on conventional purchase-money mortgages increased from January to February, according to several indices of new mortgage contracts.

• The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.27 percent for loans closed in late February, up 5 basis points from 4.22 percent in January.
• The average interest rate on all mortgage loans was 4.25 percent, up 8 basis points from 4.17 in January.
• The average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 4.41 percent, up 4 basis points from 4.37 in January.
• The effective interest rate on all mortgage loans was 4.38 percent in February, up 8 basis points from 4.30 in January. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.
• The average loan amount for all loans was $301,600 in February, down $3,800 from $305,400 in January.