Mortgage Lending & Access to Homeownership Archives

Comments to the OCC, FDIC, and Federal Reserve Regarding Real Estate Appraisals

December 7, 2019

These comments address the joint proposal by the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency (collectively, the agencies”) to raise from $250,000 to $400,000 the threshold at which lenders must obtain an appraisal when originating residential mortgages.

Amicus Brief in the Township of Mount Holly v. Mt. Holly Gardens Citizen in Action

October 28, 2013

Brief of the ACLU, ACLU of New Jersey, National Coalition Against Domestic Violence, National Community Reinvestment Coalition, National Consumer Law Center, National Law Center on Homelessness and Poverty, National Housing Law Project, Public Justice, P.C., and the National Women’s Law Center in support of Respondents.

A Review of the State of and Barriers to Minority Homeownership

May 8, 2019

The National Consumer Law Center strongly supports congressional efforts to regulate predatory land contracts.

Homeownership & Foreclosure

NCLC Digital Library: Advising Clients When an Abusive Partner Coerces Debt

This NCLC Digital Library article provides practice tips for advising clients with debt incurred by an abusive partner through coercion and fraud. While this article focuses on coercion by abusive partners, similar advice may be appropriate for elder abuse, abuse suffered by persons with disabilities who rely on a caretaker for day-to-day needs, victimization involving…

Advocates Applaud Federal Housing Finance Agency’s Move to Require Mortgage Lenders to Obtain Applicants’ Language Preference

May 3, 2022

May 3, 2022 Use of the Supplementary Consumer Information Form (SCIF) will enable effective communication between borrower and lender throughout the home buying process. 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…

NCLC’s Pizor Applauds CFPB Final Rule to Facilitate the Transition from LIBOR

December 7, 2021

December 7, 2021 The New Rule Will Provide Protections for Borrowers With Adjustable Interest Rate Loans WASHINGTON– Today, in response to the Consumer Financial Protection Bureau’s (CFPB) announcement that it has finalized a rule facilitating the transition away from use of the LIBOR interest rate index for adjustable rate loans, Andrew Pizor, staff attorney at…

NCLC’s Pizor Urges Protections for Borrowers With Adjustable Interest Rate Loans in Senate Testimony

November 2, 2021

November 2, 2021 WASHINGTON– Today, Andrew Pizor, staff attorney at the National Consumer Law Center, testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs during “The Libor Transition: Protecting Consumers and Investors” hearing on the consumer and investor impact of transitioning from the Libor benchmark interest rate. “The end of the Libor…

Revised COVID-19 Options for VA-Guaranteed Borrowers

October 13, 2021

October 13, 2021 This webinar will address the significant revisions to the options available for VA-guaranteed borrowers facing pandemic-related hardships.

Watch Recording Read More about Revised COVID-19 Options for VA-Guaranteed Borrowers

Updates to Covid-19 Relief Options for FHA, Fannie Mae, and Freddie Mac Borrowers

September 22, 2021

September 22, 2021 Between June 24 and July 23, federal agencies issued over a dozen updates related to loss mitigation policies that apply to borrowers facing COVID-19 hardships. This included a full revision to the waterfall of options for FHA-insured loans and critical adjustments to Fannie Mae and Freddie Mac’s loan modification policies. This webinar…

Watch Recording Read More about Updates to Covid-19 Relief Options for FHA, Fannie Mae, and Freddie Mac Borrowers

Letter Supporting Inclusion of Homeowner Relief in COVID Stimulus Relief Package

February 8, 2021

We are writing to urge you to include desperately needed relief to struggling homeowners in the COVID-19 relief package before Congress. Specifically, we request that it include $25 billion for direct assistance to homeowners with COVID-19 hardships, who disproportionately represent communities of color hurt most by the pandemic, with the bulk of the funds deployed through state housing finance agencies through the Homeowner Assistance Fund and including at least $100 million for housing counseling and $39.7 million for the Fair Housing Initiatives Program.

CFPB Revamp of Mortgage Rules Will Protect Lenders from Legal Liability for Peddling Unaffordable Loans, Increase Foreclosures, and Create Instability in the Mortgage Market

December 10, 2020

FOR IMMEDIATE RELEASE: December 10, 2020 Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB or Bureau) released two final rules revising the standards for determining a borrower’s ability to repay a mortgage and further limiting lender liability despite the lessons of the previous financial crisis, which led to millions of unnecessary foreclosures. By…

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