NCRC CRA Q&A Issue Brief. The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation (the “Agencies”) recently released a proposed update to the Community Reinvestment Act Q&A. The Agencies regularly review examination policies, procedures, and guidance to better serve the goals of CRA. Following the publication […]
Summary: Proposed Changes to CRA Q&A Read More »
Letter to FHFA Director Melvin Watt Regarding Proposed Enterprise Housing Goals.
NCRC Comment Letter on FHFA Proposed Enterprise Housing Goals Read More »
Letter to Attorney General Eric Holder Regarding Mortgage Settlements.
Letter to Attorney General Eric Holder Regarding Mortgage Settlements Read More »
NCRC is offering Affirmatively Furthering Fair Housing Training at the 2014 NCRC Annual Conference. Register today for this special training on Wednesday, March 12 at the Capital Hilton hotel in Washington, DC. This advanced fair housing planning colloquium will focus on how participants can collaborate and partner with other stakeholders to support inclusive communities and
Affirmatively Furthering Fair Housing Training at the 2014 NCRC Annual Conference Read More »
In November of 2013, the National Community Reinvestment Coalition (NCRC) launched a fair housing awareness campaign entitled, “The More You Know.” The purpose of the campaign is aimed at increasing awareness of and promoting fair housing rights, using visual text to highlight the subtleties of housing discrimination in today’s marketplace. The campaign features print ad
Fair Housing Awareness Campaign: “The More You Know” Read More »
Washington, DC — Today, the National Community Reinvestment Coalition (NCRC) launched a national media campaign to raise awareness of housing discrimination and the public’s rights under the Fair Housing Act. The campaign, entitled “The More You Know,” features print advertisements and a video public service announcement in English and Spanish, as well as a social
NCRC Launches National Media Campaign for Fair Housing Read More »
Washington, DC – Today, the National Community Reinvestment Coalition released a new Fair Housing Planning Resource Guide, entitled “Understanding the Proposed Affirmatively Furthering Fair Housing Rule.” This guide is intended to serve as resource for housing & community development professionals who are seeking to understand the recently proposed United States Department of Housing & Urban
NCRC Comment Letter on the Proposed Affirmatively Furthering Fair Housing Rule.
NCRC Comment Letter on the Proposed Affirmatively Furthering Fair Housing Rule Read More »
Washington, DC – Today, the United States Department of Housing and Urban Development (HUD) released for public comment a proposed regulation clarifying the duty of government funded entities to Affirmatively Furthering Fair Housing. This highly anticipated rule provides guidance to over 1200 local governments, all states, and more than 4000 Housing Authorities and community development
NCRC Statement on HUD’s Proposed Affirmatively Furthering Fair Housing Rule Read More »
Washington, DC – Today, the National Community Reinvestment Coalition applauded the U.S. Department of Housing and Urban Development’s (HUD) issuance of a rule on the “Implementation of the Fair Housing Act’s Discriminatory Effects Standard.” NCRC President and CEO John Taylor made the following statement: “We applaud HUD for formalizing in their rulemaking that the Fair
NCRC Applauds HUD Disparate Impact Rule Read More »
As part of NCRC’s mission to end discrimination and to increase fair and equal access to credit and capital for underserved communities, NCRC’s National Neighbors program conducts fair housing testing and investigation for government agencies, municipalities and other interested organizations. Fair Housing Organization Initiative Through the Fair Housing Initiative Program under a Fair Housing Organization
National Neighbors | FHIP Initiatives Read More »
Files 22 Complaints With HUD Over Lenders’ Unfair & Discriminatory Policies
WASHINGTON, DC — The National Community Reinvestment Coalition (NCRC) today called on federal agencies and banking regulators to investigate the nation’s largest Federal Housing Administration (FHA) approved lenders for possible violations of federal housing rules by refusing to offer loans to qualified Americans to the FHA policy of a minimum credit score of 580 and above with a 3.5% downpayment.
A recent NCRC investigation found that the majority of top FHA lenders failed to offer applications for federal-guaranteed loans to potentially qualified borrowers with credit scores below 620 or 640, even though FHA guarantees loans with credit scores to 580. These lenders have policies that establish “credit overlays” above the FHA policy, with minimum credit score requirements as high as 640. One-third of all Americans have credit scores under 620.
“Critical to our nation’s economic progress is the ability of homeowners to get quality refinancing, and for homebuyers to reclaim vacant houses by accessing quality mortgage credit, ” said John Taylor, president & CEO of the National Community Reinvestment Coalition.
“The decision by some banks to not follow the FHA’s policy is cutting qualified borrowers off from accessing credit, and in doing so, causing harm to their ability to prosper, build wealth and for our economy to grow. And this decision is arbitrary, because the loans are 100% guaranteed, whether the borrower’s credit score is 580 or 780. That means the loans with lower credit scores don’t pose additional risk to the company, so there’s no legitimate business defense for this across-the-board practice. A lender is only at risk if they fraudulently or improperly originated the loan, against FHA’s underwriting criteria. As is the case across the secondary market, in that situation, the lender can be forced to buy back the bad loan,” said Taylor.
NCRC Calls For Federal Investigation Into Lenders’ Read More »
Call the National Training Academy for upcoming training events at (202) 628-8866 or click on button. RSS feed listing all live public events: http://www.eventbrite.com/rss/user_list_events/8676592953
Upcoming Training Academy Events Read More »
The National Community Reinvestment Coalition’s Housing Counseling Network is a premier HUD-approved national housing counseling organization made up of over 50 housing counseling agencies across the nation. The housing counseling network mortgage advisors have provided counseling to almost 40,000 households this past year, with a wide range of services including: To Purchase Your Home
Housing Counseling Network Read More »
