NCRC Applauds FHFA’s Decision to Fund National Housing Trust Fund and Capital Magnet Fund

Washington, DC – Today, in response to the announcement by the Federal Housing Finance Agency (FHFA) that it would begin setting aside and allocating funds to the National Housing Trust Fund and Capital Magnet Fund, the National Community Reinvestment Coalition (NCRC)’s President and CEO John Taylor made the following statement:

“We applaud the FHFA for funding the Housing Trust Fund and Capital Magnet Fund. The Housing Trust Fund is sorely needed to help address the growing crisis facing low-income renters. This is the first of several steps the FHFA must take to make sure that Fannie Mae and Freddie Mac fulfill the public mission in their charters. We urge the FHFA to now adopt meaningful affordable housing goals to ensure broad access to mortgages for creditworthy borrowers.”

In October, NCRC called upon FHFA to strengthen its proposed affordable housing goals. NCRC has also long called upon FHFA to fund the Housing Trust Fund.

About the National Community Reinvestment Coalition (NCRC):
The National Community Reinvestment Coalition is an association of 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.

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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