NCRC Statement on FHA’s 2012 Annual Financial Status Report


Washington, DC– Today, NCRC President and CEO John Taylor made the following statement on FHA’s 2012 Annual Financial Status report:

“After 78 years of the Federal Housing Administration (FHA) doing things right and performing well from a fiscal perspective, the recent news about its financial health must be seen in perspective. Without FHA, and the Government Sponsored Enterprises (GSEs), there is no mortgage market today.”

“No entity, be they private sector or government, has come out of this economic crisis totally unscathed. Congress should recognize that FHA was not insulated from the crisis, and in that it in fact has performed very well in comparison to many private financial institutions, which years ago needed massive bailouts paid for by taxpayers. If anyone is to blame here, it is Congress itself for allowing years of predatory and subprime lending to go unchecked. With key consumer protections now in place as a result of Dodd-Frank, the focus moving forward should be on ensuring that there is fair access to credit and a robust housing market.”

“Many major banks nearly went out of business because of this crisis. FHA made it through in much better shape than many of its private sector counterparts, and it should be allowed to continue to perform the job that it has done so well for America for so many years.”

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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