Coalition Efforts

Consumer Action is working on these important issues along with other organizations. If you would like to know more about these issues, please see "More Information" at the end of each article.
 

Postings

The FHFA seeks to punish states for protecting their residents
The Federal Housing Finance Agency (FHFA) has proposed to increase the guarantee fees (G-fees ) paid by homeowners for loans that originated in five states that the agency characterizes as having excessively high foreclosure costs.

Proposed Mortgage Servicing Rules fail to protect families
The Consumer Financial Protection Bureau (CFPB) has proposed important new mortgage servicing regulations that will set the rules for servicing going forward. Unfortunately, the proposed rules fail to fix problems and protect consumers.

A permanent replacement of FHFA's DeMarco is crucial

Rental-to-own bill is a wolf in sheep's clothing
Consumer Action joined in a letter urging Congress to oppose H.R. 1588 that purports to protect consumers in rent-to-own contracts but ends up overruling stronger state laws.

Federal Housing Finance Agency’s Strategic Plan
Consumer groups are disappointed that a proposed strategic plan released by the Federal Housing Finance Agency lacks detail on how to better achieve access and affordability for underserved yet prepared borrowers.

Potential violation of Equal Credit Opportunity Act
Consumer Action joined coalition efforts in asking CFPB to intervene regarding the Federal Housing Administration’s new policy requiring mortgage applicants to pay off disputed accounts.

Support Elizabeth Warren for consumer watchdog job
Consumer, civil and human rights organizations wrote to President Obama on Aug. 9 to urge him to nominate Elizabeth Warren to serve as the first director of the Consumer Financial Protection Bureau (CFPB).

Groups seek stronger mortgage reform bill
Consumer Action signed on to Congressional testimony that opposes current mortgage reform legislation (HR 1728). The bill would provide some needed protections to predatory lending, but would also replace stronger state laws with weaker federal protections.

Take a ride on the 'Road to Economic Recovery'
The National Community Reinvestment Coalition (Consumer Action is a member) and USAction are planning a massive week of action around the economic crisis.

Groups ask HUD for more to reduce closing costs
Consumer Action joined in comments to the U.S. Dept. of Housing and Urban Development (HUD). The agency has proposed a rule to simplify and improve the process of obtaining mortgages, under the Real Estate Settlement Procedures Act (RESPA).

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