The National Housing Conference (NHC) applauds Congress and the Trump administration for enacting a critical $2 trillion emergency spending package to provide relief for Americans who have been adversely impacted by COVID-19.
Praises HUD, Freddie Mac and Fannie Mae move to halt evictions and foreclosures as a ‘critical first step’
NHC praises FDIC and OCC extension as an ‘important first step.’
National Housing Conference calls the Community Reinvestment Act proposal a ‘missed opportunity’ to modernize a vital regulation
“There is no question that CRA needs to be modernized, but the proposed approach is the wrong way to do it. After more than a year of consideration and 1,500 comment letters, the OCC and FDIC have come up with a formula-driven approach that almost nobody in the housing community supports and is rife with millions of dollars in hidden costs and enormous unintended consequences. This is a missed opportunity,” said Dworkin.