Cracking the Code: Understanding and Overcoming Language Barriers in Consumer Finance
This report covers the ways that financial institutions across the financial services industry serve, or fail to serve, people with limited English proficiency.
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Report: How GSE Note Sales Undermine Homeownership
A Call for Reform By: Andrea Bopp Stark, Alys Cohen, Steve Sharpe, Geoff Walsh Congress has charged the housing giants Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs) with the goals of supporting and expanding homeownership. Yet, during the COVID-19 pandemic, the Federal Housing Finance Agency (FHFA), Fannie and Freddie have undercut—and continue…
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Toxic Transactions: How Land Installment Contracts Once Again Threaten Communities of Color
This NCLC report documents a new wave of predatory real estate lending, previously peddled to African-Americans during the 1930s to 1960s, as Wall Street investment companies move to profit off foreclosed homes. The report urges the CFPB to issue rules to protect vulnerable consumers across the nation.
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Opportunity Denied: How HUD's Note Sale Program Deprives Homeowners of the Basic Benefits of Their Government-Insured Loans
Vigorous enforcement of HUD’s loss mitigation rules would preserve homeownership and stabilize communities better than essentially unrestricted sales of the loans, often to financial speculators. To date, however, HUD has not held its major servicers accountable for their non-compliance with HUD’s own servicing rules. The note sale program should continue only if it can be…
