Mortgage

Associations Comment on Serving Borrowers with Limited English Proficiency

In response to the Federal Housing Finance Agency’s recent request for information on how to serve borrowers with limited English proficiency, ABA and three financial and housing trade groups yesterday urged FHFA to pursue a holistic strategy to identify LEP-specific barriers to homeownership and develop cost-effective, practical solutions.

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NOAH: The New Housing Acronym You Need to Learn

Since any solution to address this demand-supply mismatch must include a combination of new construction and affordable housing preservation, many advocates and developers have set their sights on neighborhoods with rental stock that is both market-rate and affordable to people living at or below median income for those areas. This is called naturally occurring affordable housing, or NOAH.

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Fed Survey: CRE Lending Tightened in Second Quarter

Bankers continued tightening credit for commercial real estate and certain consumer loans in the second quarter of 2017, while residential mortgage lending eased and commercial and industrial standards remained mostly unchanged, according to the Federal Reserve’s latest senior loan officer survey released today.

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Trade Associations Urge CFPB to Extend HMDA Implementation

Together with four other finance and housing trade associations today, the American Bankers Association wrote to the Consumer Financial Protection Bureau to request a delay of the new Home Mortgage Disclosure Act’s mandatory data collection requirements which are set to take effect Jan. 1, 2018.

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Idaho Banker: High Time for GSE Reform

Testifying before the Senate Banking Committee today on behalf of ABA, banker Brenda Hughes called for Congress to move ahead with housing finance reform that provides liquidity for the house market and maintains access for community banks.

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