The Language Access Task Force of Americans for Financial Reform (AFR) submits the following comments in strong support of the Federal Housing Finance Agency (FHFA)’s Notice of Proposed Rulemaking on Fair Lending Oversight and Equitable Housing Finance.
“We have to think much more deeply as a society about how we view housing and whose interests are worth protecting the most,” [Caroline] Nagy, [senior policy analyst at AFR] said. “Looking at our tax and finance policy and seeing that we’re incentivizing the exact opposite is a very difficult, problematic place to be in.”
AFREF joined partner organizations to comment on the FHA’s 203(k) Rehabilitation Mortgage Insurance Program, a program that provides critical financing for low- and moderate-income people seeking to purchase a home in need of repairs. The comment letter details a number of changes that would increase participation in the program.
News Release: Advocates Welcome Mandatory Collection of Language Preference Data by Fannie Mae and Freddie Mac
WASHINGTON, D.C. – Americans for Financial Reform, the Connecticut Fair Housing Center, Consumer Action, National Coalition for Asian Pacific American Community Development (National CAPACD), the National Consumer Law Center, the National Fair Housing Alliance, National Housing Resource Center, and UnidosUS celebrate today’s decision by Fannie Mae and Freddie Mac (the Enterprises), that will require lenders selling loans to the Enterprises to collect information on borrowers’ preferred language, as well as any housing counseling services they’ve used.
AFREF joined the National Fair Housing Alliance and local, state, and national organizations to submit comments in response to HUD’s “Request for Information Regarding Small Mortgage Lending.” Our comments focus on the importance of residential small-dollar lending (SDL), which is essential to building wealth and family opportunity for communities of color and low- and moderate-income families throughout the nation. For too long, homes in lower-priced markets have been starved of quality, sustainable, mortgage credit, both subject to and contributing to a history of residential segregation, neighborhood disinvestment, and lost wealth-building opportunity. This comment letter makes a number of suggestions to the FHA regarding how it can better promote small mortgage loans.
AFREF sent a letter to FHFA on their Duty to Serve plans.
News Release: Advocates Applaud Federal Housing Finance Agency’s Move to Require Mortgage Lenders to Obtain Applicants’ Language Preference
WASHINGTON – Today, National Consumer Law Center, Americans for Financial Reform, Consumer Action, Empire Justice Center, National Community Stabilization Trust, National Fair Housing Alliance, UnidosUS, and National CAPACD applauded the Federal Housing Finance Agency’s (FHFA) announcement that Fannie Mae and Freddie Mac will make it mandatory for lenders to use the Supplementary Consumer Information Form (SCIF) during the loan application process.
AFR joined a letter to Congress in support of Sandra Thompson’s nomination to be director of FHFA.
Letters to Regulators: Letter to FHFA in Response to Request for Comment on Policy Statement on Fair Lending
AFREF joined several other civil rights, consumer advocacy and housing organizations in sending a letter a comment letter to the Federal Housing Finance Agency (“FHFA”) in response to their request for comment on their Policy Statement on Fair Lending (“Policy Statement”). The letter emphasizes that FHFA’s fair lending oversight of Fannie Mae and Freddie Mac must ensure access to mortgage credit on fair terms for all creditworthy borrowers, regardless of their race, gender, national origin, disability, familial status, or other protected characteristics, which is essential to closing the homeownership and wealth gaps created by exclusionary federal housing policies and ongoing discrimination in the housing marketplace.
Letters to Regulators: Letter to FHFA Urging the GSEs to Amend the COVID-19 Payment Deferral and Flex Modification to Allow Deferral and Capitalization of Escrow Shortages
AFREF joined a letter to FHFA urging the Government Sponsored Enterprises (GSEs) to amend the COVID-19 payment deferral and Flex Modification for COVID-19 impacted borrowers to allow deferral and capitalization of escrow shortages.