Press Releases
Washington, DC – Today, in response to Federal Housing Finance Agency (FHFA) Director Mel Watt’s announcement that FHFA has revised and clarified the Representation and Warranty framework, and will be developing new guidelines for mortgages with loan-to-value ratios between 95 and 97 percent, NCRC President and CEO John Taylor made the following statement: “We applaud the FHFA for taking these positive steps, but these steps alone are not enough. We urge Director Watt to continue the effort to expand credit access through the FHFA’s forthcoming affordable housing goals rulemaking.” “The affordable housing goals play a crucial role in supporting sustainable…
Washington, DC - Today, the National Community Reinvestment Coalition (NCRC) applauded a $16.6 million commitment from Midland States Bank of Effingham, Illinois to low- and moderate-income and minority communities in its footprint. In a conciliation agreement with the St. Louis Equal Housing Opportunity Council brokered by the U.S. Department of Housing and Urban Development (HUD), Midland States Bank pledged $1.6 million in subsidies, marketing, education, and training for communities and $15 million in real estate loans to predominately minority communities in St. Louis and parts of Illinois. In addition, the bank committed to opening branches and a loan production office…
Washington, DC - Today, in reaction to the release of 2013 Home Mortgage Disclosure Act (HMDA) data, NCRC President and CEO John Taylor made the following statement: “The Home Mortgage Disclosure Act data for 2013 makes it clear that there is a closing window of opportunity for low- and moderate-income communities and communities of color. This troubling trend shows the dire need for action on several fronts. Financial institutions clearly need to do a much better job serving underserved communities. Government leaders need to embrace federal housing policies that are going to promote homeownership opportunities for all creditworthy borrowers, and encourage…
Monday, September 22, 2014 09:00 AM

NCRC Names Manuel Hidalgo as Chief Operating Officer

Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) is pleased to announce that Manuel Hidalgo has joined the organization as its new Chief Operating Officer (COO). As COO, Mr. Hidalgo will direct and supervise NCRC’s overall business operations. “We are thrilled to welcome Manny Hidalgo to the NCRC team,” said NCRC President and CEO John Taylor. “He has broad and impressive experience in nonprofit management and a clear commitment to economic justice. Manny will be an invaluable asset to the organization as we work to ensure that all communities have fair and equal access to credit, capital and…
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) released “Small Business Lending Deserts and Oases,” a breakthrough report on small business lending trends in the United States and disparities in access to credit for small businesses. This is one of the first reports to comprehensively map small business lending “deserts” and small business lending “oases” in the United States. The NCRC report reveals a significant national decline in small business lending. ”Small Business Lending Deserts and Oases” analyzes data on private-sector and federally supported lending practices to determine the locations of “lending deserts” and “lending oases.” It also…
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) and Urban Financial of America, LLC (UFA), one of the largest reverse mortgage lenders in the country, announced a collaboration to focus on fair lending to older adults. NCRC will serve in an advisory role to assist UFA with providing Home Equity Conversion Mortgages (HECMs) to qualified borrowers age 62 and older. "NCRC looks forward to working with UFA to ensure older adults have fair access to reverse mortgage products," said NCRC President and CEO John Taylor. "Our hope is that in the future, other reverse mortgage lenders will look to…
Washington, DC – On Monday, September 8 the National Community Reinvestment Coalition (NCRC) will host a statewide summit in Cleveland on community reinvestment and neighborhood revitalization in Ohio. The Ohio Reinvestment Summit will feature a keynote address by U.S. Senator Sherrod Brown and include seminars and workshops on community reinvestment, foreclosure prevention, economic revitalization, community development, small business lending, affordable housing, economic security for older adults, and housing and job strategies for low-income neighborhoods. "NCRC has heard from many of our members across Ohio about the wave of disinvestment that is affecting the state's communities," said NCRC President and CEO John…
Washington, DC -- The National Community Reinvestment Coalition Community Development Fund (NCRC CDF) has been awarded $420,000 from the Community Development Financial Institutions (CDFI) Fund. This week, the CDFI Fund announced that it has awarded more than $160 million to 152 organizations through the FY2014 round of the CDFI program. "The NCRC Community Development Fund is picking up tremendous momentum for a number of innovative projects that will greatly benefit low- and moderate-income (LMI) communities," said NCRC President and CEO John Taylor. “We are very pleased that the CDFI Fund has recognized the effectiveness of NCRC's CDFI. This award further…
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) released “Recommendations to the Consumer Financial Protection Bureau for Implementing Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010,” a white paper presenting recommendations on the collection and public availability of small business loan data from financial institutions. “The collection and public reporting of small business lending data was mandated by Dodd-Frank to shine a light on lending activity and inactivity when it comes to serving women-owned, minority-owned and small businesses,” said NCRC President and CEO John Taylor. “It is absolutely critical that the CFPB…
Washington, DC – Today, a coalition of community groups led by the National Community Reinvestment Coalition (NCRC) came together to oppose the proposed merger between New Jersey-based Valley National Bank and Florida-based 1st United Bank. In a letter to the Office of the Comptroller of the Currency (OCC), which is evaluating the proposed merger, the groups asserted that the merger would not create clear public benefits in the form of responsible lending and investment in the community, as required by the law. The merger would create a bank with over $18 billion in assets and more than 230 branches in…
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