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.
Since the financial crisis, the CFPB’s QM rules have helped ensure that the nation’s financial institutions provide low- and moderate-income (LMI) families with prudent and sustainable mortgage loans. The CFPB must provide alternatives that ensure that the LMI borrowers benefiting from the GSE Patch today continue to have viable paths to homeownership.
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.
WASHINGTON, DC — Today, Senate Banking Committee Chairman Mike Crapo, R-Idaho, released a plan to significantly alter the U.S. housing finance system. The plan would eliminate the affordable housing goals, the government-sponsored enterprises’ (GSEs) Duty to Serve rule and repeal their charter obligation to facilitate the financing of affordable housing for low- and moderate-income families. […]
The recommendation to abolish affordable housing goals would be disastrous for young Americans and the working class.
Quicken Loans overtakes Wells Fargo as the largest loan originator.
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.
This bill reforms Fannie Mae and Freddie Mac, but abolishes their affordable housing goals. This should be a dealbreaker for any fair-minded Senator.
Washington – Today, the National Community Reinvestment Coalition (NCRC) released a white paper making a case for the recapitalization of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac and continuing the reforms of the GSEs started with the passage of the Housing and Economic Recovery Act of 2008 (HERA). The white paper, “Protecting Duties to Serve and Responsible Next Steps for […]