NCRC

NCRC Concludes Successful Annual Conference

By / / Press Releases / 7 minutes of reading

Esteemed National Achievement Awards Presented to Seven Community Leaders

Washington, DC – On Friday, the National Community Reinvestment Coalition (NCRC) recognized seven community leaders and organizations for their outstanding work and extraordinary contributions to their communities. The National Achievement Awards were presented during NCRC’s 2011 annual conference to individuals and organizations that are leading efforts to expand financial access for working families and communities.

Last Friday’s National Achievement Awards dinner brought a close to NCRC’s successful four day conference, held at the Washington Court Hotel in Washington, DC. Over 500 participants from across the nation partook in over 25 in-depth and comprehensive trainings, workshops, and plenary sessions, on topics including financial reform, foreclosure prevention, neighborhood stabilization and job creation. Attendees also heard from keynote speakers including: Sheila Bair, Chairman, U.S. Federal Deposit Insurance Corporation (FDIC); Senator Jon Tester, Chair of the Economic Policy Subcommittee of the Senate Banking Committee; Senator Jeff Merkley, Senate Banking Committee; Senator Al Franken, Senate Judiciary Committee; Thomas Perez, Assistant Attorney General of Civil Rights, U.S. Department of Justice; the Rev. Jesse Jackson; and Gara LaMarche, President of Atlantic Philanthropies.

John Taylor, President & CEO of NCRC, made this statement in tribute to the seven award winners and in conclusion of the well-received conference: “NCRC’s National Achievement Award winners embody the movement for fair access to capital and credit. They are leaders in their field, worthy of being celebrated and supported. These community leaders aren’t standing by waiting for help; they’re going out there and making change happen, in some cases despite incredible odds. With every conference, we hope to empower and train the next generation of community leaders.”

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As Congress Skirmishes on Budget, Community Groups Gather to Call for New Leadership on Critical Economic Issues

By / / Press Releases / 4 minutes of reading

Washington, DC — As the federal government faces a possible shutdown, local community organizations will gather in Washington, DC to call for renewed efforts to prevent foreclosures, create jobs and stabilize communities, building on model programs and efforts at the local level. Joined by its state-based member organizations, the National Community Reinvestment Coalition (NCRC) hosts its

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Mortgage Finance Proposals Threaten to Cut Off Access for Working and Middle Class Americans

By / / Press Releases / 2 minutes of reading

Washington, DC — John Taylor, President & CEO of the National Community Reinvestment Coalition (NCRC) today made this statement about proposals in Congress for Fannie Mae and Freddie Mac, and federal agency proposals on the Qualified Residential Mortgage (QRM): “How we address Fannie Mae and Freddie Mac, and the definition of the Qualified Residential Mortgage, will

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Elimination of HAMP Would Only Prolong the Foreclosure Agony

By / / Press Releases / 2 minutes of reading

Washington, DC — John Taylor, president & CEO of the National Community Reinvestment Coalition (NCRC) today made this statement about the anticipated House vote to terminate the Home Affordable Modification Program (HAMP):

“Given the fragile state of the economy, Congress and the Administration need to stop procrastinating and create proposals that actually solve the country’s financial problems, not ignore them. Congress’ decision this week to eliminate HAMP does nothing but cause further agony to the millions of hard-working families who are on the brink of losing their homes.”

“If anything, Congress should be debating how HAMP can be reengineered and improved. The Administration also needs to step up, and take a hard line to ensure that the industry meets the requirements of the program. And our government needs to stop tip-toeing around the housing crisis and start addressing it head-on with concrete, actionable solutions that lend a hand to the American people rather than providing yet another escape hatch for Wall Street.”

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BOA Announces Principal Reduction Program for Military

By / / Press Releases / 2 minutes of reading

Bank’s Home Loan Modification Reduces Principal by Tamara Keith March 10, 2011 online pharmacy buy cipro online cheap pharmacy Listen to the Story Bank of America is announcing on Thursday a loan modification program to help military service members who are behind on their mortgages. What’s unique about the program is that the bank is

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Advocates and New Yorkers Demand Banks Be Held Accountable

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Call for Swift Passage of Responsible Banking Act (Intro. 485)

Council members, advocates and community residents gathered on the steps of City Hall today to demand that banks be held accountable, and to call for the passage of the recently introduced Responsible Banking Act (Intro. 485 – Vann, Recchia). The press conference followed a hearing on the legislation in the New York City Council Committees on Community Development and Finance, also held today.

The Responsible Banking Act is important new proposed legislation that will create a ranking system of banks seeking city deposits based on how responsive they are to the needs of New York City’s neighborhoods. By holding banks that store the city’s money more locally accountable, the bill would incentivize  these financial institutions to engage in practices that are beneficial to all New Yorkers and strengthen their community development efforts in New York City. An evaluation of how these banks contribute to the needs of the City and its communities would be a transparent and important tool of the city in determining which banks it deposits its funds.

The bill is not only a response to the aftermath of predatory lending and other harmful bank practices that contributed to the national financial crisis, but also to continued disengagement by banks within underserved communities. As the effects of this continue to be felt in our city, it is imperative that New York City take affirmative steps to rebuild and strengthen its partnerships with the banking community.  The Responsible Banking Act creates the transparency and oversight necessary to achieve this. The bill would require the Department of Finance, in its role on the NYC Banking Commission, to collect important information related to community development activities performed by banks wanting to be city depositories. These would include whether they provide: mortgage loan restructuring for struggling homeowners; financing for the construction of affordable housing; and/or credit and financial services for small businesses, among other criteria.

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Eliminating Housing Programs Will Make a Bad Problem Worse

By / / Press Releases / 2 minutes of reading

Washington, DC — John Taylor, President & CEO of the National Community Reinvestment Coalition (NCRC) today made this statement on proposals to eliminate housing programs before the House Financial Services’ Subcommittee on Insurance, Housing and Community Opportunity:

“The failure of Congress to mandate foreclosure assistance programs that address the whole magnitude of the crisis is a reason to do more, instead of nothing. foreclosure familyA vacuum of leadership on foreclosures will be filled by these reckless and heartless proposals unless the Administration and the rest of Congress step up, and not continue to penny ante and punt. Only twisted thinking concludes that leaving people to fend for themselves when they are kicked out of their homes is the correct solution to our economic woes. Simply put, it will make a terrible problem even worse. The real cost of these housing programs is in the lost opportunity to expand their scope. Given the fragile state of our economy, we need proposals that solve the problem, not ignore it; if we don’t, I fear we’ll be having this same debate years from now.

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CEFA FAQ

By / / Uncategorized / 2 minutes of reading

Who is NCRC? What do they do? The National Community Reinvestment Coalition (NCRC) is a non-profit association comprising more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development and vibrant communities for America’s working families. Our members include community reinvestment organizations,

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Community Empowerment Film Award

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NCRC Announces Call for Entries for the Community Empowerment Film Award NCRC encourages the exploration of creative nonfiction storytelling that presents a unique point of view in creative formats from established and emerging filmmakers. Submissions can range in length from a film short to feature-length documentary. We invite a wide range of approaches to national

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Fannie Freddie Plan Must Not Lock Working Families Out Of Homes

By / / Press Releases / 2 minutes of reading

Washington, DC — The following is a statement from John Taylor, President & CEO of the National Community Reinvestment Coalition (NCRC), on the Administration’s plan for Fannie Mae and Freddie Mac:

“The only measure for the success of this plan is whether or not all creditworthy borrowers have the opportunity to purchase a home. If working class families are locked out of homeownership, and we end up with a housing finance system that serves only the well-heeled, then we will have failed miserably.

“Historically, working class people have had access to private sector capital in order to purchase a home, with guarantees by the government to ensure affordability. The Administration’s plan, by emphasis and omission, suggests that this country’s commitment to ensuring homeownership for working families will be lessened.

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