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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…
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) applauded the Washington, DC City Council’s passage of a responsible banking ordinance, which will require banks bidding on municipal deposits and investments to submit community development plans describing the loans, investments, and bank services they would provide to minority and modest-income neighborhoods. “We applaud the DC City Council for advancing responsible banking in our nation’s capital, and congratulate NCRC member organization Manna, Inc. and other local groups for the key role they played in the passage of the bill,” said NCRC President and CEO John Taylor. “This Act will hold…
Washington, DC – Mitria Wilson, NCRC Director of Legislative and Policy Advocacy, has been named as one of HousingWire's 2014 Influential Women in Housing.   "I am incredibly honored to be selected as one of HousingWire's 2014 Women of Influence and equally grateful to NCRC's staff and CEO, John Taylor, for their team effort in advancing and protecting the interests of underserved communities,” said NCRC Director of Legislative and Policy Advocacy Mitria Wilson. “Working together, NCRC has been able to accomplish amazing things. I have no doubt that NCRC will continue to do so in the future." "NCRC is very…
Washington, DC - Today, the National Community Reinvestment Coalition (NCRC) and other consumer advocacy organizations submitted a joint comment letter to the Consumer Financial Protection Bureau (CFPB) regarding the proposed modifications to Regulation C, which will implement changes to the Home Mortgage Disclosure Act (HMDA). The letter applauds the expanded collection of data elements and urges the public release of the new data elements, particularly those that do not pose privacy risks, without delay. “Enhancing the quality of HMDA data is critically important," said NCRC’s President and CEO John Taylor. "The expanded data will serve as an improved mechanism to increase the…
Washington, DC - Today, the National Community Reinvestment Coalition (NCRC) submitted a comment letter on the Federal Housing Finance Agency’s proposed 2015-2017 Enterprise Housing Goals. “The affordable housing goals proposed by FHFA fall far short of what will be needed to ensure that all creditworthy Americans have access to mortgages,” said NCRC President and CEO John Taylor. “We urge FHFA Director Mel Watt to adopt meaningful affordable housing goals that will ensure broad access to conventional mortgage credit for creditworthy borrowers, including working class families." See here for the comment letter. About the National Community Reinvestment Coalition (NCRC): The National…
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