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.
CFPB
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 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.
Limiting Interest Rate and Rate Spread Outliers in HMDA Data
The Consumer Finance Protection Bureau (CFPB) included a number of new datapoints in the 2018 release of the Home Mortgage Disclosure Act Data (HMDA), which came out in September 2019.
New HMDA Data Reveals Racial Disparities in Older Adult Lending
NCRC’s new report, Mortgages and Older Adults After COVID-19, used this new information to highlight trends in homebuying, aging in place and use of home equity.
What is Mortgage Forbearance and How are Fannie Mae and Freddie Mac Making it Happen
Help for homeowners is a major part of the CARES Act, the law recently passed to support our economy as we deal with the COVID-19 pandemic.
Protecting your credit during the coronavirus pandemic
Your credit reports and scores play an important role in your future financial opportunities. You can use these steps to manage and protect your credit during the COVID-19 (coronavirus) pandemic.
Protect yourself financially from the impact of the coronavirus
As you plan for the potential impact of the coronavirus, there are a number of steps that you can take to help protect yourself or a loved one financially, both in the short and long term.
NCRC President, Founder John Taylor Testifies at CFPB on Small Business Data
John Taylor, President and Founder of the National Community Reinvestment Coalition, testified today at the Consumer Finance Protection Bureau’s (CFPB) Symposium: Section 1071 of the Dodd-Frank Act.
NCRC’s HMDA 2018 methodology: How to calculate loan price
High-cost loans are often used as a proxy for subprime or even predatory mortgages. More accurate data on the loan price would go a long way to confirming if these loans are in fact dangerous, or if the higher interest rate reflects other legitimate factors.
NCRC’s HMDA 2018 methodology: How to calculate race and ethnicity
The result of the 2010 Dodd Frank Act, the 2015 CFPB rule and the 2018 Congressional update was the expansion of ethnicity fields in HMDA datat from one possible choice to five for both the applicant and co-applicant.
New HMDA data shows need to strengthen CRA, close loopholes, apply to more institutions
Just hours before the start of the Labor Day long weekend, the Consumer Financial Protection Bureau (CFPB) released 2018 Home Mortgage Disclosure Act (HMDA) data. It is the most complete record of mortgage lending in the United States. The data showed non-banks extended their dominance of home lending and that banks essentially dropped out of the government-backed FHA program that helps low- and moderate-income (LMI) borrowers.
2018 HMDA overview: Banks fell further behind, non-banks dominated home lending
While overall banks fell short of non-banks in lending to minority applicants or in LMI neighborhoods, the banks in the top 25 performed about as well as the top non-bank lenders. But even among the top banks, lending to LMI borrowers fell far behind the top non-banks.
Community groups call on Trump administration to make homeownership more accessible and affordable for LMI and minority families, not less
A coalition of housing, consumer protection and community development organizations yesterday called on the Trump administration to not undermine policies that help low- and moderate-income (LMI) people buy homes, and avoid changes that would make home-buying harder for millions.
