The U.S. Department of Housing and Urban Development’s Federal Housing Administration insures mortgage loans made by private lenders to encourage the lenders to make home loans to low- and moderate-income homeowners. Borrowers with FHA-insured mortgages who experience financial hardship during their mortgage term may be eligible for FHA’s loss mitigation program, which includes options, such as loan modifications, to enable them to save their homes.
Read More about Recommendations to Improve FHA’s Foreclosure Avoidance Program
Recommendations by Americans For Financial Reform Coalition for Treasury Department Implementation of the Homeowner Assistance Fund
We applaud your commitment to ensuring that the Consumer Financial Protect Bureau provides swift relief to consumers suffering economic hardship due to the COVID-19 pandemic and centering racialequity as a core tenet of the Bureau’s work. The Bureau can and should take immediate and significantmeasures to promote racial equity. We write today to highlight actions…
Read More about Racial Justice Priorities for the Consumer Financial Protection Bureau
Coalition organizations write to propose a solution to several of the Regulation X compliance problems that have arisen in the wake of the COVID-19 pandemic. Over 2.7 million borrowers are currently in a forbearance plan, and a large number of these still-struggling homeowners will exit forbearance plans soon.
CDFIs are uniquely suited to promote community development and expand financial inclusion.At times, however, we see CDFIs use “financial inclusion” as the central purported justificationfor permitting irresponsible lending practices, unreasonably high interest rates, and erosion oflongstanding consumer protections.
Read More about Proposed CDFI Program—Certification Application
The COVID-19 outbreak has overwhelmed many public systems, and the correctionalsystem is no different. Prisons and jails have become breeding grounds for infection withpeople crowded into tight quarters, forced to share cells and showers, and deniednecessary hygiene products. But in addition to the grave risk of infection that can onlyeffectively be addressed by depopulating prisons,…
Read More about Prison Phone Justice in Next Stimulus Package (Group letter)
The CFPB’s top priorities should include addressing COVID impacts for homeowners, tenants and student loan borrowers and emphasizing racial justice throughout the Bureau by looking for disparate impacts, examining new technology, and ensuring equal access to hardship programs.
Read More about NCLC Welcomes CFPB Director Chopra and Describes Priorities for CFPB
The NAACP Legal Defense and Educational Fund, Inc. (LDF) and the National Consumer Law Center (NCLC) are wrote a letter in response to DeKalb County’s recent announcement of its plans to lift its five-year-old water disconnection moratorium on July 1, 2021.
Read More about Opposition to Lifting Dekalb County Water Disconnection Moratorium
This ex parte Notice is filed by the National Consumer Law Center on behalf of its low-income clients andAmericans for Financial Reform Education Fund, Consumer Federation of America, ConsumerReports, Consumer Action, and the National Association of Consumer Advocates. This Notice relatesto the requests made by a coalition of lenders led by the American Bankers Association…
