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Washington, DC – Today, in reaction to the Federal Housing Finance Agency’s (FHFA) announcement of small adjustments to the fees it charges lenders on loans guaranteed by the Government-Sponsored Enterprises (GSEs), the National Community Reinvestment Coalition’s (NCRC) Chief of Membership and Policy Jesse Van Tol made the following statement: “The FHFA has taken some modest steps in the right direction, but they do not go nearly far enough. We are disappointed that FHFA did not take this opportunity to substantially reduce guarantee fees. A significant reduction in guarantee fees would stimulate the housing market and help to increase access to…
Washington, DC – Today, community groups led by the National Community Reinvestment Coalition (NCRC) called upon Senate Majority Leader Mitch McConnell hold a full Senate vote on the confirmation of Loretta Lynch for U.S. Attorney General. Ms. Lynch’s wait for confirmation, presently over five months, is at historic levels, and a majority of the Senate now supports her confirmation. “Having strong leaders as regulators, and as Attorney General, is imperative for our collective well-being as a nation,” said NCRC President and CEO John Taylor. “It's eminently clear that Loretta Lynch is such a leader. She is fully qualified and would…
Washington, DC – On March 25, at the National Community Reinvestment Coalition's (NCRC) 2015 Annual Conference, NCRC presented its National Achievement Awards and honored leaders in expanding fair access to financial services. The awards ceremony featured remarks from Gustavo F. Velasquez, Assistant Secretary for Fair Housing and Equal Opportunity at the U.S. Department of Housing and Urban Development, and John Taylor, NCRC’s President and CEO. The Master of Ceremonies was Robert Dickerson, Jr., Chair of NCRC’s Board of Directors and Executive Director of the Birmingham Business Resource Center. “The annual NCRC awards dinner is a wonderful opportunity to recognize leaders…
Washington, DC – From March 25-28, the National Community Reinvestment Coalition (NCRC) will hold its annual conference, bringing together hundreds of participants and community organizations from across the nation. This year’s conference theme is “Creating a Just Economy.” This year, the conference will feature keynote speeches from Sherrod Brown, U.S. Senator for Ohio, Maxine Waters, U.S. Representative for California’s 43rd District, Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration, Julián Castro, Secretary of the U.S. Department of Housing and Urban Development (HUD), Gustavo Velasquez, Assistant Secretary for Fair Housing and Equal Opportunity, HUD, Thomas Curry, Comptroller of the Currency,…
Washington, DC – Today, as U.S. Department of Housing and Urban Development Secretary Julian Castro testified before the U.S. House of Representatives Committee on Financial Services in a hearing titled “The Future of Housing in America: Oversight of the Federal Housing Administration,” NCRC President and CEO John Taylor applauded recent changes to FHA mortgage insurance premiums. “It’s clear that FHA has weathered the storm from the housing crisis, and can resume its role of creating homeownership opportunities for creditworthy families working their way up the economic ladder. Throughout its history, FHA has been instrumental in helping working families become homeowners…
Washington, DC – Today, as Federal Housing Finance Agency (FHFA) Director Mel Watt testified before the House Financial Services Committee on FHFA’s recently announced allocation of funds to the National Housing Trust Fund and Capital Magnet Fund, NCRC President and CEO John Taylor reaffirmed NCRC’s support of the decision to capitalize the funds. “NCRC is very supportive of Director Watt’s move to fund the Housing Trust Fund and Capital Magnet Fund. The Housing Trust Fund is a key tool to help address the growing crisis facing low-income renters, and FHFA is right to ensure that it is funded. This is…
Washington, DC – Today, in reaction to President Barack Obama’s State of the Union Address, NCRC President and CEO John Taylor made the following statement: “We commend President Obama for his focus on helping working families and combating income inequality. However, this inequality will always persist if we don’t ensure that all creditworthy Americans have fair and equal access to credit, capital and banking services. The evidence is clear: women, minorities and working-class Americans who are creditworthy are being unfairly locked out from critical financial services. That must change.” “Responsible credit is an essential wealth-building mechanism. It’s what allows an…
Wednesday, January 07, 2015 04:36 PM

NCRC Reacts to Reduction in FHA Premiums

Washington, DC – Today, in reaction to President Obama’s announcement that the Federal Housing Administration (FHA) will lower mortgage insurance premiums by 0.5 percentage points for FHA loans, NCRC President and CEO John Taylor made the following statement: “We applaud President Obama for this positive step, which will be beneficial to working families striving to climb the economic ladder. Throughout its history, FHA has played a key role in helping working people to access homeownership and build wealth through equity. This reduction in FHA mortgage insurance premiums will serve to help make homeownership more affordable and attainable for many families.…
Washington, DC – Today, in response to the announcement by the Federal Housing Finance Agency (FHFA) that it would begin setting aside and allocating funds to the National Housing Trust Fund and Capital Magnet Fund, the National Community Reinvestment Coalition (NCRC)’s President and CEO John Taylor made the following statement: “We applaud the FHFA for funding the Housing Trust Fund and Capital Magnet Fund. The Housing Trust Fund is sorely needed to help address the growing crisis facing low-income renters. This is the first of several steps the FHFA must take to make sure that Fannie Mae and Freddie Mac…
Washington, DC – Today, in response to the announcement of enhancements to the Home Affordable Modification Program (HAMP) by the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development, the National Community Reinvestment Coalition (NCRC)’s President and CEO John Taylor made the following statement: “NCRC applauds the Treasury Department and HUD for taking these additional steps to assist homeowners through HAMP. HAMP has been very beneficial to many homeowners who were at risk of losing their homes through no fault of their own, and these new guidelines will go even further in helping them remain…
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