Summer Mortgage Conference
The Summer Mortgage Conference will feature sessions on post-pandemic loss mitigation options, RESPA caselaw updates, and a variety of hot topics in the representation of homeowners.
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Coalition Comments to the Task Force on New Americans on Expanding Language Access Within the Financial Services Sector
Comments submitted on behalf of civil rights and consumer advocacy organizations regarding the request for public input issued by the Financial Access and Education Subcommittee of the White House Task Force on New Americans. The consumer groups urge the Financial Access and Education Subcommittee to incorporate policies that would explicitly expand language access within the…
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Letter to The Appraisal Foundation Regarding Declination of Invitation to Join the Council to Advance Residential Equity
The undersigned civil rights and consumer advocacy organizations write to explain why we are at this time declining the invitation to join The Appraisal Foundation’s (TAF’s) Council to Advance Residential Equity (“Council”). Recent research and news stories highlight how appraisal bias impacts consumers and communities of color and exacerbates the racial wealth gap, which means…
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Coalition Comments Regarding a Proposed Mortgagee Letter on Borrower Requests for Review of Appraisal Results
The groups strongly support HUD’s plan to issue guidance on ROVs, but the proposed Mortgagee Letter needs substantial improvement. It should be revised to provide clear, strong standards for mortgagees and a uniform ROV disclosure for borrowers. Comments submitted by: Consumer Action, Long Island Housing Services, Inc., Mountain State Justice, Inc., NAACP Legal Defense and…
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Fannie Mae/Freddie Mac Note Sales Undermine Homeownership
Government-Sponsored Enterprises (GSEs) Undercut Goals of Expanding Homeownership Through Bulk Sales of Homes to Investors WASHINGTON – Today, the National Consumer Law Center released a report examining how Fannie Mae’s and Freddie Mac’s bulk sale of 700,000 home loans to private investors has undercut their goals of supporting and expanding homeownership. Fannie Mae and Freddie…
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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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Comments regarding Loan Guaranty: Revisions to VA-Guaranteed or Insured Interest Rate Reduction Refinancing Loans
We support the proposed rule but have a number of recommendations, including adding protections to protect distressed borrowers and prevent the misuse of escrow account refunds; removing repayment-plan payments from the definition of “monthly payment” used for the seasoning rule; and working with Congress to determine whether statutory changes are necessary to prevent other abuses…
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NCLC's Comments to HUD regarding Small Dollar Lending
The National Consumer Law Center submitted comments to the U.S. Department of Housing and Urban Development (HUD) regarding the lack of availability of small-dollar mortgages for consumers seeking funding to purchase or repair lower priced homes. The scarcity of these types of mortgages had a disparate impact on consumers of color who were forced to…
Read More about NCLC's Comments to HUD regarding Small Dollar Lending
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