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NCRC

Go Local Pro Business: Black Homeownership in RI Is As Low As It Was in the 1960s

Go Local Pro Business, January 2, 2022, Black Homeownership in RI Is As Low As It Was in the 1960s Homeownership for Blacks was at the same level as before the federal Civic Rights Act passed, redlining was commonplace and housing rights laws were non-existent. “In fact, in the past 15 years, Black homeownership has …

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NCRC and New York Community Bancorp announce $28 billion community Benefits agreement to support communities of color, small businesses, and ongoing commitment to responsible multi-family lending

New York Community Bancorp, Inc. (NYCB) and the National Community Reinvestment Coalition (NCRC) announced today the company’s commitment to provide $28 billion in loans, investments and other financial support to communities and people of color, low- and moderate-income (LMI) families and communities, and small businesses.

NCRC Submits Letter to FDIC, OCC, Federal Reserve Supporting FDIC’s action to review bank merger approval framework

The National Community Reinvestment Coalition (NCRC) today submitted a letter to the Federal Deposit Insurance Corporation (FDIC) to express support from its members to introduce a Request for Comments to review the agency’s bank merger approval framework, and called on the Office of the Comptroller of the Currency and the Federal Reserve Board to do the same.

Report: Low- and moderate-income families and many people of color continue to be excluded from the mortgage market

While 2020 was disastrous for millions of Americans impacted by the coronavirus, the mortgage industry was in overdrive as interest rates dropped to levels not seen since the housing crash of 2009.  In a new report, the National Community Reinvestment Coalition (NCRC) found that the explosion of refinance lending reinforced historical patterns of disinvestment in …

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WBAL TV: Residents, community groups react to bank branch closing in Brooklyn

WBAL TV, December 20, 2021, Residents, Community Groups React To Bank Branch Closing In Brooklyn Brooklyn, in southwest Baltimore, is a neighborhood at a crossroads. The COVID-19 pandemic, along with other issues, have created some inequities. A bank the community relied on has shut its doors. Bank of America told 11 News the impact of …

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Capital & Main: Are Nonbank Mortgage Lenders Good for Minority Borrowers?

Capital & Main, December 20, 2021, Are Nonbank Mortgage Lenders Good for Minority Borrowers? A loan officer at a mortgage company questions a Black loan applicant about household debts, but subsequently invites a less creditworthy white borrower to fill out an application with “no inquiry about credit standing or debts.” He then offers to walk the …

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The Denver Post: “Where we come from is art”: Denver’s gentrifying Northside captured through the lens and poetry of its Latino youth

The Denver Post, December 19, 2021, “Where we come from is art”: Denver’s gentrifying Northside captured through the lens and poetry of its Latino youth Tim Hernández is a witness to the pain, the promise, the joy, the hope, the struggles of the Northside’s youth. He’s a teacher at North High and a product of …

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Housing Wire: Mortgage industry cheers Sandra Thompson’s nomination

Housing Wire, December 16, 2021, Mortgage industry cheers Sandra Thompson’s nomination Industry stakeholders and affordable housing advocates welcomed news that the Federal Housing Finance Agency’s acting director, Sandra Thompson, was nominated for the permanent role. Some had previously expressed frustration that there was not a permanent nominee for the FHFA, although there is recent precedent for an acting FHFA …

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NBC News: How 3D printing can be the solution to the nation’s affordable housing crisis

NBC News, January 4, 2022, How 3D printing can be the solution to the nation’s affordable housing crisis Using 3D printing to build homes provides numerous benefits, including a decrease in construction time due to the machine’s efficiency. During the process, concrete is extruded from a large machine into layers that form the walls, foundation …

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WBFO/NPR: NYC must provide separate housing for trans people in homeless shelters under new settlement

WBFO/NPR, January 3, 2022, NYC must provide separate housing for trans people in homeless shelters under new settlement New York City must provide dedicated, separate housing for homeless trans and gender non-conforming people in city shelters in four boroughs, according to the terms of a recent legal settlement with Mariah Lopez, an activist with the …

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Bloomberg Business + Equality: Wall Street Is Using Tech Firms Like Zillow to Eat Up Starter Homes

Bloomberg Business + Equality, January 7, 2022, Wall Street Is Using Tech Firms Like Zillow To Eat Up Starter Homes A Bloomberg News analysis of more than 100,000 property records shows that Zillow and the two other biggest iBuyers, Opendoor Technologies Inc. and Offerpad Solutions Inc., are selling thousands of homes to landlords backed by KKR & Co., Cerberus Capital Management, Blackstone …

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