A new approach to bank ratings would generate billions more for neighborhoods reeling from the pandemic
This white paper describes NCRC’s suggested rating system and discusses our forecasts of increased dollars for LMI neighborhoods.
NCRC condemns CFPB move to gut payday loan restrictions
Today, the Consumer Financial Protection Bureau (CFPB) issued a small-dollar loan final rule that will strip away protections that had been the hallmark of the original 2017 rule.
Are All Americans Equal?
Most people are aware of the ongoing economic inequality suffered by the majority of Americans and disproportionately for African Americans. African Americans’ net wealth in the US is 1/10 of that of their fellow White citizens. The COVID–19 virus, the current economic recession and national protests has made many of us think deeper about whether
Young scholar starts at the intersection of residential segregation and health
As a 16 year old Gen Z scholar from Long Island, Perrino chose to study the health impacts of government sanctioned segregation for a project in her science research course.
“Redlining” and health indicators: Decisions made 80 years ago have health consequences today
The consequences of redlining are often thought of in terms of economic opportunity and segregation, but these consequences extend far beyond the boundaries of socioeconomic inequality and into the realm of health disparities.
Trump threatens to “end” an anti-segregation rule that’s already crumbling under his administration
In a tweet yesterday, President Trump threatened a vital piece of the 1968 Fair Housing Act (FHA). The 2015 Affirmatively Furthering Fair Housing (AFFH) rule finally addressed and strengthened the FHA requirement that the government do something to end housing discrimination and segregation.
The expansion of telemedicine underscores existing disparities in healthcare access
The COVID-19 pandemic has called for a recent expansion of telemedicine, demonstrating the benefits of remote care. It has also highlighted the disparities in healthcare that many vulnerable groups already face.
FHFA proposes new regulatory capital framework for GSEs
Today, the Federal Housing Finance Agency (FHFA) published a proposed rulemaking that creates a new regulatory capital framework for Fannie Mae and Freddie Mac, known together as the government-sponsored enterprises (GSEs).
Preliminary Analysis of 2019 HMDA Mortgage Lending Data
The Consumer Financial Protection Bureau (CFPB) released the 2019 Home Mortgage Disclosure Act (HMDA) data on June 24, 2020, detailing mortgage lending information from nearly all lenders in the United States. HMDA offers details on 9.3 million originations resulting from over 17.5 million applications.
NCRC applauds House passage of resolution to save anti-redlining law
Today, the House of Representatives voted to pass H.J. Res 90, which disapproves of the Office of the Comptroller of the Currency’s (OCC’s) new Community Reinvestment Act (CRA) rules. If the resolution is passed into law, it would make the CRA final rule null and void.
NCRC statement on Supreme Court Consumer Financial Protection Bureau ruling
Today, the Supreme Court ruled that the Consumer Financial Protection Bureau’s (CFPB) structure is unconstitutional. The ruling ended what was supposed to be the director’s total independence from the president, by giving the president the authority to fire the director at will.
Mortgage data reveals disparities in same-sex lending
Same-sex couples paid higher interest rates and closing fees on home loans, a new analysis found.
Community Reinvestment Groups Sue Trump Administration For Unlawfully Gutting Anti-Redlining Rules
Today, the National Community Reinvestment Coalition (NCRC) and the California Reinvestment Coalition (CRC), represented by Democracy Forward and Farella Braun + Martel, filed suit against the Office of the Comptroller of the Currency (OCC) for unlawfully eviscerating the vital anti-redlining rules put in place under the Community Reinvestment Act (CRA).
The Queer inequities in LGBTQ+ health
LGBTQ+ individuals face an accumulating amount of health inequities when age, race and ethnicity are held constant. As social determinants of health, issues like financial security and fair housing play a large role in the fight for health equity.
FHA and FHFA Forbearance Letter
The Honorable Ben Carson Secretary U.S. Department of Housing and Urban Development 451 7th Street, SW Washington, D.C. 20210 The Honorable Mark Calabria Director Federal Housing Finance Agency 400 7th Street, SW Washington, D.C. 20219 Dear Secretary Carson and Director Calabria: We are writing to express our deep concern over recent policy changes regarding the
Sign On Letter in Support of H.J. Res. 90 to Overturn the CRA Rule
Sign On Letter in Support of H.J. Res. 90 to Overturn the CRA Rule U.S. House of Representatives U.S. Capitol Washington, DC 20515 Dear Representative: On behalf of the undersigned organizations, we are writing to urge you to cosponsor and support H.J.Res. 90, a disapproval resolution that would overturn a poorly constructed rule change on
The CFPB’s Revisions to the Qualified Mortgage Rules (the “GSE Patch”)
A price-based alternative, combined with existing statutory provisions and the additional regulatory safeguards outlined in the CFPB’s proposed rule, has the potential to improve access for LMI and minority borrowers, but it is critical to consider this proposal within the context of other federal policy changes affecting the nation’s housing finance system and the broader impacts of COVID-19 on LMI households and credit standards throughout the mortgage market.
The OCC’s new emphasis on essential infrastructure will divert banks from low- and moderate-income neighborhoods
The poorly conceived addition of infrastructure as eligible community development will at best be under-utilized and at worst a giant sucking sound draining resources from LMI neighborhoods and even threatening some of them with physical destruction.
NCRC Hires Brad Blower as New General Counsel
The National Community Reinvestment Coalition (NCRC) has added a new General Counsel.
Brad Blower
General Counsel bblower@ncrc.org 202.383.7706 Brad Blower joined NCRC as its General Counsel in June 2020. Over the course of his career, he has worked as an advocate on civil rights and consumer protection issues with the federal government and in the nonprofit and private sectors. Prior to NCRC, Brad was the Vice President for Consumer
Same-Sex Couples and Mortgage Lending
Introduction The National Community Reinvestment Coalition has analyzed new data available to researchers for the first time to determine borrower patterns among same-sex couples, in comparison to different-sex couples. Our research question was, will same-sex couples pay higher closing costs and more interest on mortgage loans than different-sex couples? From our analysis of 2018 Home
OCC cracks open a debt trapdoor
In the middle of a worldwide pandemic and national crisis, the Office of the Comptroller of the Currency (OCC) has taken steps that could undermine the ability of states to protect their residents from the perils of high-cost loans.
NCRC, First Merchants Bank Announce $1.4 Billion Community Benefits Plan
Five-year reinvestment plan directs resources to underserved communities.
Has COVID-19 Resulted in Less Racism in Housing Sales?
As real estate agents scramble for new business, compliance with civil rights laws may not be the first thing on their minds. Yet evidence suggests that as housing sales plummeted in April, the amount of racial discrimination in the housing sales market plummeted alongside it.
Study: Before COVID-19, a small number of booming cities struggled with gentrification. The rest simply struggled.
San Francisco was the most intensely gentrified city in America from 2013 to 2017, a new study found. But the emergence of COVID-19 exposed deep economic and social fault lines nationwide. While a small number of cities were booming, most were not.
