Joint Letter: Letter to HUD asking for COVID-19 protections for reverse mortgage borrowers
Letter to HUD asking for needed protections for reverse mortgage borrowers facing challenges due to COVID-19
Tag Archives: Mortgage Market
Joint Letter: FHFA RFI on PACE Loans
AFREF and partners sent a letter to FHFA on how FHFA should approach PACE loans.
Joint Letter: Letter to HUD Opposing Changes to AFFH Rule
Coalition letter to HUD opposing changes to AFFH rule.
Joint Letter: Letter in Support of the Housing Fairness Act of 2020
Joint letter in support of the Housing Fairness Act of 2020
Joint Letter: Letter to HUD Opposing Deregulatory Barriers to Affordable Housing
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
News Release: AFR Ed Fund Criticizes HUD Proposal for Thwarting Fair Housing Goals
If the proposed rule went into effect, HUD’s assessment of whether localities were meeting their AFFH obligations would not include consideration of race, religion, national origin, families with children, or other protected classes that the Fair Housing Act was intended to shield from discrimination. The proposed rule eliminates the community participation process, which was proven to be extremely effective in helping communities develop meaningful fair housing goals, and does not even have a requirement that state and local governments conduct a fair housing analysis for their communities at all.
Letter to Regulators: Coalition letter to CFPB on mortgage data disclosure (HMDA)
A coalition of 27 civil rights, community, consumer and other groups challenges CFPB’s consideration of reducing home lending disclosure, a critical tool to stop lending discrimination and hold banks accountable for their record of lending to communities of color and lower income neighborhoods.
News Release: HUD Proposing to Roll Back Civil Rights Protections in Housing
“HUD’s proposed rule makes it virtually impossible for a disparate impact claim to stand in court,” says Linda Jun, senior policy counsel for Americans for Financial Reform Education Fund. “By raising the threshold for disparate impact, the new rule creates a nearly unsurmountable bar for plaintiffs to prove discriminatory outcomes and makes it much easier for defendants to shield themselves from any responsibility for discrimination.”
Letter to Regulators: Coalition Letter on FHA Single-Family Loan Sale Program
FHA mortgages play a crucial role in providing and maintaining access to affordable and sustainable homeownership for low- and moderate-income families and communities of color. If the Loan Sale Program continues in its current unregulated form, FHA borrowers and their communities remain at risk of further harm from non-compliant servicers and private equity loan purchasers. It is crucial that HUD implement strong protections both before and after loans are sold to prevent needless borrower displacement and neighborhood instability.
Letter to Regulators: Comment to HUD on FHA Servicing Defect Taxonomy
Developing clear and appropriate standards for the servicing taxonomy will help ensure that servicers are properly held accountable for non-compliance with FHA’s requirements. It promises to improve the quality of FHA servicing, which in turn will benefit homeowners and the Mutual Mortgage Insurance (MMI) fund. HUD must ensure that its taxonomy tool encompasses these loss mitigation regulations and allows for borrower input into servicer performance in order to truly gauge whether loss mitigation is working for neighborhoods and for the MMI fund.