This is a bold and promising move to align and combine forces at agencies that should work together to end housing and lending discrimination and, importantly, to ensure their policies expand access to affordable homeownership for more borrowers and communities of color.
“Today, we saw Congress and President Trump take important steps to protect Americans against both health and economic repercussions of COVID-19….this is a great first step, but there will need to be others,” said Jesse Van Tol, CEO of NCRC.
“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.
NCRC supports removing GSEs from conservatorship, but not like this Read More »
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.
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.
NCRC insists that any GSE reform must protect affordable housing goals Read More »
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.Â
NCRC condemns Crapo GSE plan to drop affordable housing goals Read More »
The recommendation to abolish affordable housing goals would be disastrous for young Americans and the working class.
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.
The affordable-housing mandates at Fannie Mae and Freddie Mac were not the primary cause of the 2007-09 recession.
Housing policy didn’t cause the 2007 crash Read More »
This bill reforms Fannie Mae and Freddie Mac, but abolishes their affordable housing goals. This should be a dealbreaker for any fair-minded Senator.
Senate considers abolishing the GSE’s affordable housing goals Read More »
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
Protecting Duties to Serve and Responsible Next Steps for Reforming the Secondary Mortgage Market (PDF Download)
Washington, DC – Today, in reaction to updates to the Common Securitization Platform released by the Federal Housing Finance Agency (FHFA), NCRC President and CEO John Taylor made the following statement: “The potential that the Common Securitization Platform (CSP) will be opened up in the future to entities other than government-sponsored enterprises — Fannie Mae
NCRC Statement on Updates to Common Securitization Platform Read More »
Washington, DC – Today, in response to the Federal Housing Finance Agency’s (FHFA) release of its final affordable housing goal rule for Fannie Mae and Freddie Mac for 2015-2017, National Community Reinvestment Coalition (NCRC) President and CEO John Taylor made the following statement: “The affordable housing goal rule announced by FHFA today falls short of
NCRC Reacts to Final Affordable Housing Goals Issued by Federal Housing Finance Agency Read More »
Washington, DC – Today, in response to Federal Housing Finance Agency (FHFA) Director Mel Watt’s announcement that FHFA has revised and clarified the Representation and Warranty framework, and will be developing new guidelines for mortgages with loan-to-value ratios between 95 and 97 percent, NCRC President and CEO John Taylor made the following statement: “We applaud
NCRC Statement on FHFA Effort to Expand Credit Access Read More »
