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GSE

NCRC applauds FHFA’s proposed expansion of affordable housing goals, and a new goal specific for minority communities

Today, the Federal Housing Finance Agency (FHFA) proposed 2022-2024 single-family and multifamily housing goals for the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. In addition to proposing higher annual benchmarks in some categories, the agency proposes new single-family subgoals focused on communities of color and that respond to concerns about displacement in low-income communities.

NCRC applauds FHFA’s proposed expansion of affordable housing goals, and a new goal specific for minority communities Read More »

The CFPB must provide paths for LMI home buyers that will be harmed by any expiration of GSE Patch

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.

The CFPB must provide paths for LMI home buyers that will be harmed by any expiration of GSE Patch Read More »

NCRC condemns Crapo GSE plan to drop affordable housing goals

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. 

NCRC condemns Crapo GSE plan to drop affordable housing goals Read More »

Canada is having a housing crash that should serve as a warning to the US

The entire Canadian housing and mortgage market has dropped off a financial cliff, which should pose as a warning for the U.S. as we talk about reforming our Government-Sponsored Enterprise (GSE) system. In 2008, when the U.S. was entering a full housing market crash, Canada took several steps to disguise the exposure of Canadian households.

Canada is having a housing crash that should serve as a warning to the US Read More »

It’s time to end GSE conservatorship, but not their affordability goals.

WASHINGTON, D.C. –  Today the House Financial Services Committee Chairman, Jeb Hensarling (R-TX), unveiled a bipartisan bill to reform the government-sponsored housing enterprises (GSEs). In a press release, Hensarling vowed to end the conservatorship of Fannie Mae and Freddie Mac by winding them down completely. Hensarling’s press statement fails to mention any efforts to tackle

It’s time to end GSE conservatorship, but not their affordability goals. Read More »

Senate housing finance proposal threatens access, affordability, and market stability

WASHINGTON, D.C. – This week, a leaked version of a housing finance proposal from U.S. Senators Bob Corker (TN) and Mark Warner (VA) emerged that would severely harm America’s housing market. Today, several civil rights and affordable housing groups issued a statement on the proposal’s negative impact on access, affordability, and market stability. The Center

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Joint letter: request for meeting to discuss preserving access and affordability in Government Sponsored Enterprise reform

We, the undersigned civil and human rights organizations, write to express our profound concern with the ongoing discussions in Congress about comprehensive Government Sponsored Enterprise (GSE) reform legislation, and to request a meeting to ensure that our perspectives are taken into account in this very important effort.

Joint letter: request for meeting to discuss preserving access and affordability in Government Sponsored Enterprise reform Read More »

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