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homeownership

Video: Developing radical goals for Black homeownership and access to affordable housing

By / / Events, NCRC Videos / 67 minutes of reading

Over the last 50 years, there has been little bridging of the Black/White homeownership divide. During this time of higher interest rates and a higher cost of housing, what can be done to significantly advance Black homeownership and access to affordable housing? We heard from a panel of experts on the type of radical changes needed and practical ways to move us in that direction.

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The CFPB’s Revisions to the Qualified Mortgage Rules (the “GSE Patch”)

By / / Press Releases / 2 minutes of reading

A price-based alternative, combined with existing statutory provisions and the additional regulatory safeguards outlined in the CFPB’s proposed rule, has the potential to improve access for LMI and minority borrowers, but it is critical to consider this proposal within the context of other federal policy changes affecting the nation’s housing finance system and the broader impacts of COVID-19 on LMI households and credit standards throughout the mortgage market.

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

By / / Press Releases / 2 minutes of reading

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.

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Student loan debt impacts homeownership

By / / Research, Views / 4 minutes of reading

In 2019, the total student loan debt in America is about $1.5 trillion. According to the New York Consumer Credit Panel, adults under 40 hold 65% of the total student loan debt. Although there has been much said about this figure, the income enhancement offered by a college degree still far outweighs the cost of the debt.

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As HUD Asks Americans to “Dare to Own the Dream” of Homeownership, NCRC Calls on Obama Administration to Preserve Affordable Housing Goals

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, following a U.S. Department of Housing and Urban Development (HUD) National Homeownership Month “Dare to Own the Dream” event, the National Community Reinvestment Coalition (NCRC) and local community groups called on the Obama Administration to protect and strengthen the affordable housing goals at Fannie Mae and Freddie Mac. NCRC President and CEO

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In Response to House Financial Services Hearing, NCRC Applauds FHA

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, as U.S. Department of Housing and Urban Development Secretary Julian Castro testified before the U.S. House of Representatives Committee on Financial Services in a hearing titled “The Future of Housing in America: Oversight of the Federal Housing Administration,” NCRC President and CEO John Taylor applauded recent changes to FHA mortgage insurance

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As FHFA Director Mel Watt Testifies Before Congress, NCRC Reaffirms Support for Decision to Fund Housing Trust Fund

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, as Federal Housing Finance Agency (FHFA) Director Mel Watt testified before the House Financial Services Committee on FHFA’s recently announced allocation of funds to the National Housing Trust Fund and Capital Magnet Fund, NCRC President and CEO John Taylor reaffirmed NCRC’s support of the decision to capitalize the funds. “NCRC is

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In Reaction to State of the Union Address, NCRC Calls For Focus on Fair Access to Credit

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, in reaction to President Barack Obama’s State of the Union Address, NCRC President and CEO John Taylor made the following statement: “We commend President Obama for his focus on helping working families and combating income inequality. However, this inequality will always persist if we don’t ensure that all creditworthy Americans have

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