Yesterday, the Consumer Financial Protection Bureau (CFPB) released new online toolsto help consumers be better informed when purchasing a home.
Whether you dream of buying a home years down the line or are in the midst of closing now, these tools can give you helpful information specific to your needs.
Richard Cordray, Director of the CFPB, discussed the new tool, housing trends, and market improvements at The Brookings Institute.
In the live webcast (also below), he emphasized the need to change the market culture by empowering homebuyers with better information when purchasing their house—the largest asset that many will ever acquire.
On the First Anniversary of New CFPB Rules, Are Mortgage Servicers Playing Fair?
One year ago, the Consumer Financial Protection Bureau (CFPB) introduced new rules to protect homeowners from incompetent customer service and abusive practices by mortgage servicers, the firms that manage mortgage payments.
Partnering with the National Housing Resource Center, NCLR surveyed housing counselors across the country to find out if mortgage servicers were following these rules.
Today, we’re releasing our findings in a report to show the progress made and provide recommendations for further improvement.
In the survey, we asked housing counselors to tell us how mortgage servicers had improved their communications with homeowners and housing counselors.
Relief for Latino Families, FHFA to Fund Essential Affordable Housing Programs
This week, the Federal Housing Finance Agency (FHFA) announced plans to fund two essential affordable housing programs—the National Housing Trust Fund(NHTF) and the Capital Magnet Fund.
At NCLR, we’ve long urged the FHFA to fund these programs, which would begin to correct the dire shortage of affordable housing in this country.
Nearly a year of inaction after his swearing in, we’re pleased to see FHFA Director Mel Watt take a stand for struggling families by directing FHFA to fund the much-needed affordable housing programs.
To be funded from less than one-twentieth of a percentage point of Fannie Mae and Freddie Mac’s business purchases, the funds are expected to total between $400 and $500 million annually, amounting to a boon for low-income Latino families.