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NCRC Announces RFP for Initiative to Empower Older Adults

By / / Press Releases / 4 minutes of reading

 Addressing economic insecurity of older adults through regional organizing and advocacy groups

Washington, DC — The National Community Reinvestment Coalition (NCRC), with support from Atlantic Philanthropies, is pleased to announce its 2011 Request for Proposals (RFP) for National Neighbors Silver, an initiative to support and empower older adults nationwide.

As the United States suffers from historically high rates of foreclosure and unemployment, older adults across the nation are not only more numerous than past generations, but also more susceptible to financial insecurity and instability. Many older adults who lost their jobs during the economic crisis have been pushed out of the workforce and into early retirement.

“Many older Americans face new challenges in this economic environment. The sharp reduction in the value of most seniors’ primary asset — their home — means that many are now especially susceptible to financial insecurity. The National Neighbors Silver initiative will support participating regional organizations to directly tackle the root causes of the unique economic challenges faced by America’s older citizens,” said John Taylor, president and CEO of NCRC.

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FCIC Report Puts Blame Where It Belongs: On Wall Street & Regulators

By / / Press Releases / 2 minutes of reading

 Going Forward, Two Big Lessons Learned: Don’t Put the Fox in the Henhouse, and Regulation Matters

Washington, DC — John Taylor, President and CEO of the National Community Reinvestment Coalition, released this statement today about the Financial GSE picCrisis Inquiry Commission report and proposals to return the government-sponsored entities to the private sector without affordable housing goals:

This report puts the blame where it belongs on Wall Street and the federal regulators who looked the other way. It also puts to rest the myth that making capital available to low or moderate-income borrowers was a cause of the crisis.

While the report may be a day late and a dollar short, the lessons going forward are that regulators need the authority and the resources to stay on top of financial innovations and make sure risk taking does not become reckless. The other very important lesson is that regulation matters when it comes to protecting consumers.  There is an appropriate and necessary federal role in ensuring access to capital and markets for nontraditional borrowers, which is why the affordable housing goals must remain a part of the mission of the government-sponsored entities.

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The Hardest Hit Fund Reaches DC Residents via Newly Launched HomeSaver Program

By / / Press Releases / 2 minutes of reading

homesaver logo

NCRC’s Housing Counseling Network joins DC program to provide foreclosure prevention counseling to the unemployed

Washington, DC— the National Community Reinvestment Coalition’s Housing Counseling Network (NCRC HCN), a Housing and Urban Development (HUD) certified housing counseling organization, announced that it will provide housing counseling under the District of Columbia Housing Finance Agency’s (DCHFA) HomeSaver program. The DCHFA program will provide foreclosure prevention to an estimated 1,000 unemployed DC homeowners, and is funded by the $1.5 billion dollar Hardest Hit Fund Initiative created by the Obama administration last year.

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NCRC Releases Safe & Sound Lending in Neighborhoods Study (Sept 2010)

By / / Research / 2 minutes of reading

Community Reinvestment Act Mitigates Damage to Communities Caused by Financial Crisis A new study by the National Community Reinvestment Coalition finds that Community Reinvestment Act (CRA) regulated lenders avoided significant decreases in lending accompanied by the current foreclosure crisis and severe recession. The study compared home and small businesses lending and bank branching in two

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