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.
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.
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.
Yesterday, HUD finalized a new AFFH rule that is completely contrary to the intent of the AFFH mandate. Instead of furthering fair housing, the rule effectively eliminates a critical tool for addressing discrimination and segregation in our communities.
Letter to HUD opposing the set of deregulatory efforts now under way that are withdrawing crucial commonsense oversight from the housing and financial markets, enabling discrimination, and thereby increasing barriers to affordable housing