A $90 billion premium comes out of the equity that we all pay. Higher fees make it harder for renters to become homeowners. They erode the price a seller can expect to receive for their home. This is a bill that falls disproportionately on LMI and minority families, one the reinforces the growing racial and income wealth gaps.
The $90 Billion Bill We Pay Each Year for Non-Bank Mortgage Lenders Read More »
September 17, 2019 The Honorable Jerome H. Powell Chairman, Federal Reserve Board of Governors 20th Street and Constitution Avenue, NW Washington, DC 20551 The Honorable Joseph Otting Comptroller of the Currency 400 7th Street, SW Washington, DC 20219 The Honorable Jelena McWilliams Chairman, Federal Deposit Insurance Corporation 550 17th Street, NW Washington, DC 20429 Dear
Letter to Regulators on Proposed CRA One-Ratio Reform Read More »
September 12, 2019 RE: NCRC Comment Letter on AmeriNat Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that AmeriNat’s application for an Industrial Loan Charter (ILC) has not demonstrated a significant commitment to meeting the convenience and needs of the community to be served as required per the Federal
NCRC comment letter on AmeriNat charter application Read More »
(Download) August 27, 2019 RE: NCRC Comment Letter on Rakuten Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that Rakuten’s application for an Industrial Loan Charter (ILC) has not demonstrated a significant commitment to meeting the convenience and needs of the community to be served as required per
NCRC Comment letter on Rakuten Charter application Read More »
In the Age of Fintech and Bank Competition,CATO Policy Analyst Diego Zuluaga maintained that the Community Reinvestment Act (CRA) should be repealed and replaced with a system of tradable credits. He started off his argument by asserting that the rationale for CRA is outdated since branching restrictions and other regulations that constrained competition have been
NCRC will host a live webinar on September 5 about the role of health anchors and collaborative initiatives between hospital systems and community stakeholders.
Wealth equity includes health equity Read More »
With proposed changes to Community Reinvestment Act rules expected in late summer or early fall, we must remind federal regulatory agencies not to diminish the importance of home mortgage lending in CRA exams.
Don’t diminish the importance of homeownership in CRA reform Read More »
While many economic indicators are better than they have been in years, leading to recently published reports asserting that income inequality is not as bad as we have been told, many people are working multiple jobs just to get by.
What you need to know about income inequality Read More »
(Download) July 30, 2019 President Donald J. Trump The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear President Trump: There have been a number of recent actions by the White House signaling the first real semblance of an Administration policy on affordable housing and homeownership. At the outset, we want to thank your
Letter to the White House on affordable housing Read More »
(Download) INTRODUCTION The Community Reinvestment Act (CRA) has leveraged trillions of dollars of loans, investments and services for low- and moderate-income (LMI) borrowers and communities. Since 1996, banks have made more than $1 trillion in community development loans, which finance affordable housing, economic development projects and community facilities for LMI communities. Likewise, banks have issued
Banks often tout the benefits of merging. The result depends on a variety of factors.
Why giant bank mergers like SunTrust and BB&T matter Read More »
The government’s own analysis shows that more than 55,000 children — who are U.S. citizens or otherwise eligible to receive housing benefits — could face eviction under the proposed rule. In 1968 — just a week after Martin Luther King, Jr.’s assassination — Congress passed the Fair Housing Act, or FHA. The law secured everyone’s
Trump’s plan to throw 55,000 children out of their homes Read More »
BB&T Corporation (NYSE: BBT), SunTrust Banks, Inc. (NYSE:STI) and the National Community Reinvestment Coalition (NCRC) today announced the creation of a three-year, $60 billion community benefits plan for the region served by Truist Financial Corporation, the combined company to be created through the proposed merger of the two banks. The plan, based upon discussions between
Storms hit our member communities ever year. Other members will be available to offer assistance to those hit hardest. Here are some disaster preparedness and recovery suggestions.
What to do when a storm hits your community Read More »
(Download) June 17, 2019 Public Finance and Regulatory Analysis Division Office of Policy Development and Research Department of Housing and Urban Development 451 7th Street SW, Room 8216 Washington, DC 20410-0500 Via Federal eRulemaking Portal Re: Docket No. FR–6155–N–01 Request for Information Review of HUD Policy in Opportunity Zones  Dear Secretary Carson: On behalf of
Comment on HUD’s Opportunity Zone policy Read More »
