{"id":7031,"date":"2023-04-19T14:27:41","date_gmt":"2023-04-19T18:27:41","guid":{"rendered":"https:\/\/nationalfairhousing.org\/?p=7031"},"modified":"2023-04-19T14:28:18","modified_gmt":"2023-04-19T18:28:18","slug":"nfha-issues-statement-in-support-of-fhfas-proposed-rule-for-fair-lending-oversight","status":"publish","type":"post","link":"https:\/\/nationalfairhousing.org\/nfha-issues-statement-in-support-of-fhfas-proposed-rule-for-fair-lending-oversight\/","title":{"rendered":"NFHA Issues Statement in Support of FHFA\u2019s Proposed Rule for Fair Lending Oversight"},"content":{"rendered":"\n<p class=\"content-wrap-item post__paragraph\">FOR IMMEDIATE RELEASE<br>April 19, 2023<br>Contact: Izzy Woodruff | 202-898-1661 | <a href=\"mailto:iwoodruff@nationalfairhousing.org\">iwoodruff@nationalfairhousing.org<\/a><\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph has-text-align-center\"><strong>NFHA Issues Statement in Support of FHFA\u2019s Proposed Rule for Fair Lending Oversight<\/strong><\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\"><strong>Washington, D.C. \u2014<\/strong> Today, the Federal Housing Finance Agency (FHFA) announced a Notice of Proposed Rulemaking (NPRM) on Fair Lending Oversight, which would formalize many of FHFA\u2019s existing practices for oversight of its regulated entities.<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">Specifically, the proposed rule would codify in regulation:<\/p>\n\n\n\n<ul class=\"content-wrap-item post__list post__list-undefined wp-block-list\" value=\"\">\n<li>FHFA\u2019s fair lending oversight requirements for Fannie Mae and Freddie Mac (the Enterprises) and the Federal Home Loan Banks (FHLBanks);<\/li>\n\n\n\n<li>the requirements for the Enterprises to maintain Equitable Housing Finance Plans; and<\/li>\n\n\n\n<li>the requirements for the Enterprises to collect and report homeownership education, housing counseling, and language preference information from the Supplemental Consumer Information Form (SCIF).<\/li>\n<\/ul>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">Nikitra Bailey, Executive Vice President of the National Fair Housing Alliance, issued the following statement regarding FHFA\u2019s announcement:<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">\u201cThe National Fair Housing Alliance applauds Director Thompson and FHFA for seeking to codify by regulation these three critically important initiatives.<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">\u201cAs we celebrate the 55th anniversary of the Fair Housing Act this year, we commend FHFA\u2019s efforts to ensure access to mortgage credit on fair terms for all creditworthy borrowers, regardless of their race, national origin, gender, disability, familial status, or other protected characteristics. Although we have made some significant strides as a society since 1968, we clearly still have a long way to go in fully dismantling the systems that continue to perpetuate inequity in the national housing finance market.<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">\u201cThe proposed regulation is consistent with FHFA\u2019s obligation to Affirmatively Further Fair Housing and with existing statutes and regulations. This approach is essential to closing the racial homeownership and wealth gaps that have long plagued America\u2019s housing finance system, and it also makes good business sense. The demographics of the nation are undergoing a dramatic shift, and the majority of new households formed over the next decade will be households of color. Actionable plans are critically important to support borrowers and communities of color. FHFA\u2019s actions will promote a robust housing market that benefits all borrowers and communities.\u201d<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph has-text-align-center\">###<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\"><strong><em>The National Fair Housing Alliance (NFHA)<\/em><\/strong><em> is the country\u2019s only national civil rights organization dedicated solely to eliminating all forms of housing and lending discrimination and ensuring equal opportunities for all people. As the trade association for over 170 fair housing and justice-centered organizations and individuals throughout the U.S. and its territories, NFHA works to dismantle longstanding barriers to equity and build diverse, inclusive, well-resourced communities. Visit nationalfairhousing.org to learn more.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FOR IMMEDIATE RELEASEApril 19, 2023Contact: Izzy Woodruff | 202-898-1661 | iwoodruff@nationalfairhousing.org NFHA Issues Statement in Support of FHFA\u2019s Proposed Rule for Fair Lending Oversight Washington, D.C. \u2014 Today, the Federal Housing Finance Agency (FHFA) announced a Notice of Proposed Rulemaking (NPRM) on Fair Lending Oversight, which would formalize many of FHFA\u2019s existing practices for oversight [&hellip;]<\/p>\n","protected":false},"author":433,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33,2],"tags":[],"class_list":["post-7031","post","type-post","status-publish","format-standard","hentry","category-news-media","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NFHA Issues Statement in Support of FHFA\u2019s Proposed Rule for Fair Lending Oversight - 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