The government’s plan to change how it enforces the Community Reinvestment Ac is “fundamentally flawed” and will significantly weaken the law, according to analysis of the proposal by the National Community Reinvestment Coalition (NCRC).
Lending and investments would total $7.75 billion over the 2020 to 2023 period and align with the combined retail branch footprint in Arizona, California, Colorado, Florida, Hawaii, Kansas, Nebraska, Nevada and Texas.
“While NCRC supports ending the conservatorship of Fannie Mae and Freddie Mac, the fundamental restructuring of the nation’s housing finance system envisioned across several federal agencies and programs represents a significant turnaround in the nation’s commitment to facilitating homeownership for low- and moderate-income (LMI) families,” said NCRC CEO Jesse Van Tol.
President Trump signed an executive order to create a new administrative office that is expected to tackle the affordable housing crisis facing America. NCRC looks forward to working with the council on expanding the nation’s affordable housing inventory.
The racial wealth divide is greater today than it was nearly four decades ago and trends point to its continued widening. A new report, “Ten Solutions to Bridge the Racial Wealth Divide,” released by the Institute for Policy Studies and Kirwan Institute for the Study of Race and Ethnicity, with the National Community Reinvestment Coalition, takes stock of the problem and offers ten bold solutions.
We are concerned that the fundamental restructuring of the housing finance system will set in motion further limits on those who have access to the system today.
The bill, S. 3503, addresses discriminatory lending, affordable homeownership, modernization of the Community Reinvestment Act and relief for families still recovering from the Great Recession.
The money will be lent to not-for-profit developers who build or preserve affordable housing in the District.
A six-part series reflects on the role of public housing in America.
Carson suspended the rule in January, allowing local and state governments to continue receiving HUD grants without compliance with the full requirements of the Fair Housing Act.
Those who don’t have a generous pre-approval letter from a lender in their pocket might find themselves out of luck when they go house hunting. That’s why some of the biggest players in housing finance are making new efforts to open up housing options for low- and middle-income buyers.
There’s a clear link between a lack of places to live and the number of people sleeping out of doors at night. And the solution is clear, too: Cities need to double down not just on homeless services, but on building more affordable housing, and quickly.
Washington, DC – A new study released today by the National Community Reinvestment Coalition (NCRC) found that banking industry proposed changes to the Community Reinvestment Act (CRA) would allow midsize banks to circumvent federal requirements to lend and invest in low and moderate income neighborhoods.These proposed changes would endanger billions in affordable housing and community development investment.