In the News

“The Where We Live program is rooted in two things: investments that help people live, work and thrive, and a deep understanding that neighborhoods need long-term partners,” said John Taylor, President and founder of NCRC.

“If you want to help fight back, go to the National Community Reinvestment Coalition’s website (ncrc.org), where you will find resources to help you comment on the proposed rules. It will only take a few minutes and, I assure you, it will make a huge difference.”

The NCRC is part of an association of community organizations that “promote access to banking services, affordable housing, entrepreneurship [and] job creation.”

“There’s very little in the way of ensuring that the social impact of what comes out of this is beneficial to low-income communities,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition.

“It’s always been a surprise to me that housing doesn’t receive more attention in federal elections, and I think this is the year that changes that,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition.

“We need to strengthen and modernize the rules to make responsible credit accessible to creditworthy people,” writes NCRC President John Taylor.

“It requires all of us working together at the intersection of multiple sectors to see the kind of transformation this country needs,” said Jenn Jones, NCRC’S chief of membership and policy. “We spend a lot of time talking about the importance of engaging this November but really the work begins before November and it comes far after November. And, it starts in our communities; it starts in our neighborhoods; it starts with people.”

A historical map of NYC, from NCRC shows the areas where federal agencies would provide mortgage insurance to incentivize lending to homeowners and developers, versus areas where developers didn’t receive the same incentive.

“The foreclosure crisis really started as a subprime lending crisis,” Van Tol said, referring to the extremely risky loans lenders made to borrowers with less-than-stellar credit in the lead up to the crisis. “Low-and-moderate income people and people of color were disproportionately targeted for these bad loans.”

For those who aren’t rich and white, the American dream of home ownership is too often out of reach.

“This bill presents a vision for updating the Community Reinvestment Act that places the well-being of communities at the center of it,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition.

“For the average consumer, the biggest thing that has changed is it’s a lot clearer at the closing table what kind of loan you’re getting and what you can expect to pay over the life of the loan, and that’s a very good thing,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition.

Any GSE reform that abolishes or weakens affordable-housing goals will be disastrous for millennials. NCRC CEO Jesse Van Tol confirms why he believes Rep. Hensarling’s criticism of low-down-payment loans is wrong.