ShelterForce: “Gentrification” Is Not the Real Problem
Gentrification has become a functionally useless term.
ShelterForce: “Gentrification” Is Not the Real Problem Read More »
Gentrification has become a functionally useless term.
ShelterForce: “Gentrification” Is Not the Real Problem Read More »
The risk is cognitive decline, which can rob them of their judgment, often without much warning. One big mistake—or a series of smaller ones—can go unnoticed by loved ones, and potentially ravage a lifetime of hard-earned savings.
The Wall Street Journal: Baby Boomers’ Biggest Financial Risk: Cognitive Decline Read More »
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2020 mortgage lending transactions at 4,475 U.S. financial institutions reported under the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies.
The Supreme Court dismissed a challenge to the Affordable Care Act on Thursday in a decision that will leave the law intact and save health care coverage for millions of Americans. The justices turned away a challenge from Republican-led states and the former Trump administration, which urged the justices to block the entire law.
Construction of new housing in the past 20 years fell 5.5 million units short of long-term historical levels, according to a new National Association of Realtors report, which is calling for a “once-in-a-generation” policy response.
The COVID-19 pandemic presented a wide range of sudden financial challenges, from lost jobs and store closures to price gouging and new expenses. Many people lacked sufficient emergency savings to deal with these kinds of challenges. Some even relied on credit cards for basic expenses—in some cases, even for their rent payments.
AARP: Credit Disparities Continue Among Older Adults Read More »
The basic American contract is that if you work hard and play by the rules, you should be able to purchase a home and provide a comfortable living for your family. But this contract has long been broken for far too many people.
CNN Business: Too many Americans can’t afford homes. But there is a solution Read More »
Worse, a rule issued last December by a national banking regulator, Office of the Comptroller of the Currency (OCC), protects predatory small business lenders that exploit financial victims with outrageous loans that greatly exceed state interest rate laws like Florida’s. But the U.S. Senate, including Sen. Marco Rubio, two other Republicans and all Senate Democrats, recently voted to overturn the rule. Our congressional delegation should follow the Senate’s lead in order to stop evasions of our laws and protect small businesses.
Orlando Sentinel: Predatory lenders put Florida small businesses at risk | Commentary Read More »
When Americans started facing the threat of foreclosure at the height of the 2008 financial crisis, Barack Obama campaigned on a promise of a simple, straightforward, and elegant solution: Force big banks to accept some losses and write down the amounts homeowners owed on their mortgages, thereby avoiding mass foreclosures. Soon after winning office, Obama abandoned the pledge, to the delight of his Wall Street donors.
Real estate prices around the world are flashing the kind of bubble warnings that haven’t been seen since the run up to the 2008 financial crisis, according to Bloomberg Economics.
Bloomberg Wealth: World’s Bubbliest Housing Markets Flash 2008 Style Warnings Read More »
Asch noted a National Community Reinvestment Coalition study that found economic hardships persist in many of the majority Black neighborhoods that experienced “redlining” (systemic denials of home loans) decades earlier.
AARP: Blacks Hospitalized for COVID-19 Face Higher Odds of Death Read More »
Jesse Van Tol, CEO of the National Community Reinvestment Coalition urged the next director to “act immediately to revisit a number of recent policies that undermine the role of the GSEs the market, mortgage rates and mortgage products, including the December rule around their capital requirements and the program and product restrictions included in the January amendments to the FHFA-Treasury Preferred Stock Purchase Agreements.”
American Banker: Mortgage execs begin lobbying FHFA to lift lender sales cap Read More »
Jesse Van Tol, CEO of the National Community Reinvestment Coalition (NCRC), made the following statement:
“This is a pivotal moment for Fannie Mae and Freddie Mac, for the mission in their charters, and the role they can and must play in facilitating access to affordable housing and affordable mortgage credit for low- and moderate-income (LMI) households, for families and communities of color and rural communities. The scale of the affordable housing challenges facing the nation both in terms of the supply of new and existing affordable housing and access to affordable and sustainable mortgage credit cannot be met without strong leadership from the GSEs.
Jesse Van Tol, CEO of the National Community Reinvestment Coalition, said that FedAccounts could help banks attract customers who don’t trust banks with their money.
American Banker: FedAccounts billed as gift to bankers. Many are dubious. Read More »
WASHINGTON, D.C. — Wells Fargo has selected City First Enterprises, ECDC Enterprise Development Group, Latino Economic Development Center (LEDC), National Community Reinvestment Coalition (NCRC) and Washington Area Community Investment Fund (Wacif) to receive grants from its Open for Business Fund, bringing nearly $10 million to Washington, D.C., to help underserved small businesses stay open and preserve jobs.