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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…
Wednesday, October 22, 2014 10:05 AM

NCRC Statement on Final QRM Rule

Washington, DC – Today, in reaction to the adoption of a final credit risk retention rule by federal regulators, NCRC President and CEO John Taylor made the following statement: “We are pleased that regulators have aligned the definition of a Qualified Residential Mortgage with the definition of a Qualified Mortgage, and that the final rule does not include the previously proposed 20% down payment requirement and credit score criteria for borrowers. Those requirements would have needlessly excluded creditworthy borrowers from the mortgage market. The final rule will help to ensure safe and sound lending and prevent unsustainable, risky loans.” About…
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…
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