HousingWire: Civil rights, housing, community development groups slam HUD’s fair housing rule delay
In a statement, 76 community groups (including NCRC) say that the delaying the rule by one year is tantamount to repealing the rule altogether.
International Business Times: Trump Administration Waives Punishment For Convicted Banks, Including Deutsche — Which Trump Owes Millions
The Trump administration has waived part of the punishment for five megabanks. One of the Trump administration waivers was granted to Deutsche Bank — which is owed at least $130 million by President Donald Trump and his business empire and has also been fined for its role in a Russian money laundering scheme.
VOX: What the dip in US life expectancy is really about: inequality
While poor Americans are dying earlier, the rich are enjoying unprecedented longevity.
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The Atlantic: What the Oprah boomlet means for democrats
Pleas for the entertainer to run for president point to a split over whether to treat Donald Trump as a dangerous anomaly or a particularly extreme Republican. She could be at once the Democratic Trump and also an anti-Trump.
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Chicago Policy Review: How public bus routes can deconcentrate poverty and promote equity
New research suggests that a more effective approach to changing the geography of poverty requires the expansion of effective public transportation systems.
NYT: How ‘Not in My Backyard’ became ‘Not in My Neighborhood’
The expectation that homeowners should be able to reach beyond their property lines has become deeply embedded. The new tax law has raised the possibility that homeownership may be losing some of its privileged status in American society, as the benefits of the mortgage interest and property tax deductions shrink.
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HUD suspends AFFH, a key civil rights rule intended to fight housing discrimination
The U.S. Department of Housing and Urban Development (HUD) announced this week it is suspending the Affirmatively Furthering Fair Housing (AFFH) rule until 2020. The AFFH rule was passed in 2015 to provide jurisdictions with a long overdue roadmap and measurement tools to comply with the landmark Fair Housing Act (FHA).
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WSJ: Who’s the Most Valuable Online Lender? After This Deal, It’s GreenSky
A new $200 million investment vaults GreenSky over Social Finance Inc. to become the most highly-valued online lender in the U.S.
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The Atlantic: Mick Mulvaney Is quickly deregulating the financial industry
Mick Mulvaney intends to make all the drama surrounding his appointment as interim director of the Consumer Financial Protection Bureau worth it.
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Washington Post: America’s forgotten towns: Can they be saved or should people just leave?
Economics 101 suggests it’s time for a big migration west from the Rust Belt to the Boom Belt. But economists missed something important about these towns: They have social capital. Trust is what you might call the “magic fairy dust” that helps economies thrive.
Capital buffers for GSEs are fine. But what they really need is to be set free.
NCRC’s interest here is to have a robust mortgage securitization system that insures all credit-worthy people have access to quality mortgages. Set them free to do what they have done well for millions of people over decades: help working-class Americans move from being renters to home owners.
Capital buffers for GSEs are fine. But what they really need is to be set free. Read More »
American Banker: Square to small banks: Don’t lump us in with Amazon and Facebook
Fintechs are revolutionizing the financial market, but will they also modernize 21st century community reinvestment? Earlier this fall, the National Community Reinvestment Coalition met with Square officials to find out.
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Joint letter: request for meeting to discuss preserving access and affordability in Government Sponsored Enterprise reform
We, the undersigned civil and human rights organizations, write to express our profound concern with the ongoing discussions in Congress about comprehensive Government Sponsored Enterprise (GSE) reform legislation, and to request a meeting to ensure that our perspectives are taken into account in this very important effort.
Reveal: Trump vowed to fix US infrastructure, but his budget stiffs small towns
The block grant program and other federal programs that have assisted communities with about $8 billion annually for cleaner water, safer sidewalks, streetlights and sewage treatment are on the chopping block in Washington.
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Preserving the GSEs is key to preserving affordability
Nearly nine years after the U.S. government seized both of them at the height of the Great Recession, Fannie and Freddie remain under the control of the federal government. The good news is they’re profitable again. The bad news is they no longer play a significant role helping the working class obtain affordable home loans.
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