For over 45 years, the disparate impact doctrine has allowed people to chip away at policies that have a discriminatory effect even if there is no intent to discriminate. When the need to address systemic racism is so urgent, and the costs of failing to do so are so devastating, HUD has chosen to finalize a rule that effectively dismantles this essential tool for fighting injustice.
NEWS RELEASE: Senate HEALS Act Misses the Mark for Families; Leaves Them At Risk of Losing Their Homes
It is absolutely critical for the well-being of families, communities and the economy that homes are protected. Congress needs to enact measures to protect homeowners and renters, including the following mortgage protections, which our organizations have been advocating:
Letter to Congress: Letter from over 50 groups in support of mortgage relief in next covid-19 relief package
Letter from over 50 groups urging Senate leadership to include mortgage protections in the next COVID-19 relief package.
Letters to Regulators: Joint Letter to FHFA, Fannie Mae & Freddie Mac on the need to notify tenants of applicable protections during COVID-19
AFR Ed Fund and 59 other organizations sent a letter to FHFA, Fannie Mae, and Freddie Mac asking them to provide ways for tenants to be able to determine whether their homes qualify for additional protections as a result of their landlord’s forbearance so that they can plan accordingly and protect themselves from eviction and other consequences.
The following organizations have made this important information available in Spanish, Korean, Chinese, Vietnamese, Bangla and English: AFR Language Access Task Force, Americans for Financial Reform Education Fund, Center for Responsible Lending, Consumer Action, Empire Justice Center, National CAPACD, National Consumer Law Center, National Fair Housing Alliance, and UnidosUS.
Joint letter asking FHFA, HUD, VA and USDA to provide tenants with a mechanism to identify whether their apartment, home, or manufactured housing is covered by the tenant protections in the CARES Act
Now, with 26 million workers unemployed and countless businesses closing indefinitely, private equity firms are salivating at the potential business opportunities that might arise from the expected economic fallout. Unless we take immediate action to prevent it, private equity firms will take advantage of this unprecedented crisis to make even greater asset grabs.
“Coronavirus distress is the ‘opportunity of the century’ for real estate investors,” according to a recent headline in The Real Deal, a New York real estate news publication. The article quotes Meridian Capital Group’s David Schechtman saying “But I will tell you, real-estate investors — when you take the emotion out of it — many of them have been waiting for this for a decade.”
Policy Recommendations: Critical Post-CARES Act Financial Policy Steps to Respond to the Coronavirus
Americans for Financial Reform released a set of financial policy recommendations for Congress to fix the problems and loopholes in the CARES Act, to further protect and support individuals, families and communities in the face of this crisis, and to lay the groundwork for an equitable and sustainable economic recovery.
AFREF and partners sent a letter to FHFA on how FHFA should approach PACE loans.
Coalition letter to HUD opposing changes to AFFH rule.