As HUD Asks Americans to “Dare to Own the Dream” of Homeownership, NCRC Calls on Obama Administration to Preserve Affordable Housing Goals

WASHINGTON – June 23, 2016 – (RealEstateRama) — Following a U.S. Department of Housing and Urban Development (HUD) National Homeownership Month “Dare to Own the Dream” event, the National Community Reinvestment Coalition (NCRC) and local community groups called on the Obama Administration to protect and strengthen the affordable housing goals at Fannie Mae and Freddie Mac.
NCRC President and CEO John Taylor made the following statement:

“It is commendable that the Obama Administration is voicing support for access to credit and homeownership opportunities, and their support for housing counseling and fair housing is outstanding. However, their plan to eliminate Fannie Mae and Freddie Mac is likely to prove extraordinarily harmful to homeownership opportunities for working people across the country.”
“As HUD is calling on us to ‘Dare to Own the Dream,’ the Administration’s actions in the area of housing finance reform could very well deny that dream to working people, not just today, but for future generations.”

“Fannie Mae and Freddie Mac and their affordable housing goals have helped millions to become responsible homeowners. The elimination of Fannie and Freddie and the goals is contrary to the principles that HUD and President Obama have voiced for National Homeownership Month. We call on the Treasury Department and Federal Housing Finance Agency Director Mel Watt to recapitalize Fannie and Freddie, conduct additional reforms to ensure their viability, transparency, and accountability, and end the conservatorship.”
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About NCRC:
NCRC and its grassroots member organizations create opportunities for people to build wealth. We work with community leaders, policymakers and financial institutions to champion fairness in banking, housing and business development.

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The National Community Reinvestment Coalition (NCRC) was formed in 1990 by national, regional, and local organizations to develop and harness the collective energies of community reinvestment organizations from across the country so as to increase the flow of private capital into traditionally underserved communities. 

NCRC has grown to an association of more than 600 community-based organizations that promote access to basic banking services including credit and savings, to create and sustain affordable housing, job development and vibrant communities for America's working families.

Contact:

NCRC
727 15th Street, Suite 900
Washington DC 20005

Phone: 202 628-8866
Fax: 202 628-9800

Media contact:
Jesse Van Tol
Phone: (202) 464-2709

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