Published: September 2017

FHFA affordable housing goals laudable, but more can be done for low-income communities

Advocates submit comments to the Federal Housing Finance Agency regarding its efforts to improve strategies that ensure those from low-income communities have better access to affordable housing and homeownership.

Consumer Action joined advocates in applauding the Federal Housing Finance Agency (FHFA) in its efforts to improve its affordable housing goals and to reach underserved communities. They also recommend several steps the agency can take to increase access to homeownership, including increasing access to mortgage credit in low-income areas, maintaining a two-part metric test that sets a higher standard and ensures compliance with the agency’s goals, and making sure the agency exercises its statutory authority when it comes to Freddie Mac’s and Fannie Mae’s low-income purchase goals.

Lead Organization

Center for Responsible Lending (CRL)

Other Organizations

Americans for Financial Reform | Center for Responsible Lending | Consumer Action | Empire Justice Center | Esperanza | The Leadership Conference on Civil and Human Rights | MHANY Management Inc. | Mobilization for Justice, Inc. (formerly MFY Legal Services) | NAACP | National CAPACD | National Fair Housing Alliance | Prosperity Now (formerly CFED) | UnidosUS (formerly NCLR)

More Information

For more information, please visit CRL's website.

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FHFA affordable housing goals laudable, but more can be done for low-income communities   (FHFAAffordableHousingGoals.pdf)