Posts Tagged ‘HUD’

In his first congressional hearing since being confirmed last summer, Julián Castro, Secretary of Housing and Urban Development, testified before the House Financial Services Committee today on his agency’s progress and accomplishments.

This hearing couldn’t come at a more critical time, given that Latino families are still struggling to rebuild the wealth they lost during the Great Recession.

Though an economic recovery is now under way, Latinos are not necessarily seeing improved outcomes in access to mortgage credit.

Just last year, Hispanic home-buyers made up only 6 percent of the conventional mortgage market, despite comprising 17 percent of the population.

Last week, Mayor Julián Castro of San Antonio faced the Senate Banking Committee for his confirmation hearing as nominee to head the U.S. Department of Housing and Urban Development. Overall, the hearing went fairly smoothly, with Castro receiving support from committee Republicans Bob Corker of Tennessee and John Cornyn of Texas, who introduced him.