NCRC Statement on Trump Administration Raising FHA Mortgage Premiums

Washington, DC – (RealEstateRama) — Today, in reaction to the Trump Administration’s action to raise Federal Housing Administration (FHA) mortgage premiums, NCRC President and CEO John Taylor made the following statement:

NCRC

“This move makes mortgages more expensive for working class people. It will further dampen the housing market, where already there are many responsible creditworthy borrowers who are needlessly locked out from homeownership opportunity. Raising Federal Housing Administration (FHA) premiums throws up more barriers to economic mobility, and blocks working families from attaining the American dream.

“Already, President Trump’s commitment to working families is in question. In his speech today, he spoke to the importance of government working for the people. He immediately followed with this action, which stands in stark contrast to that ideal.”

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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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