The OCC has issued its final CRA rule just six weeks after the end of the comment period on the Notice of Proposed Rulemaking (NPR) and amid the worst health and economic crisis of our lifetimes. Banks, regulators and community groups must be singularly focused on responding to this unprecedented crisis, and not on bureaucratic and regulatory diversions that will sidetrack essential resources from the task at hand.
NHC joins organizations to call for a suspension of federal rulemaking procedures during the COVID-19 pandemic
Today, NHC joined with a diverse coalition of organizations in housing and community development to call for federal regulatory agencies to temporarily suspend housing-related rulemaking procedures that are unrelated to our nation’s response to the health and economic ramifications of the COVID-19 pandemic.
Statement by David M. Dworkin President and Chief Executive Officer National Housing Conference (NHC) on Federal Housing Finance Agency (FHFA) Announcement to Address Mortgage Servicer Liquidity Concern
“FHFA’s announcement today is an important first step. Ensuring servicers can move payments to the end of the loan term and get reimbursed in four months is progress.”
NHC strongly recommends an immediate suspension of all regulatory processes involving housing and financial services that do not directly contribute to the war against the COVID-19 virus and its economic aftermath.