Civil Rights Groups Highlight the Need for Affordable Mortgage Credit
At a convening to discuss housing finance reform held earlier today, leading civil rights and housing groups echoed concerns raised late last month about access to and affordability of mortgage credit for communities of color.
The event, which included a keynote address from Shaun Donovan, Secretary of Housing and Urban Development, highlighted the proposed housing finance reform bill from the U.S. Senate Banking Committee.
Although speakers unanimously agreed that an overhaul of the housing finance market is needed, they cautioned that the current draft of the bill proposed by Sens. Tim Johnson (D–S.D.) and Mike Crapo (R–Idaho) needs a number of changes to ensure that it provides affordable mortgages to all creditworthy borrowers, including many underserved communities.Read more here!