Skip to main content

Search form

Press Releases

October 25, 2017
WASHINGTON, D.C. – Today Nikitra Bailey, an Executive Vice President with the Center for Responsible Lending testified before the U.S. House of Representatives Subcommittee hearing entitled, “Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform.” Bailey reviewed the secondary mortgage market’s history as it relates to low-wealth communities and consumers of color, citing past federal policies that excluded communities of color from homeownership, and its accompanying opportunity to build wealth. Bailey’s testimony today underscores how federal policy has both...
September 29, 2017
WASHINGTON, DC. - A new analysis of 2016 mortgage lending data by the Center for Responsible Lending (CRL) again finds a continued lack of access to conventional loans among consumers of color and low-wealth families, but that the mortgage market has rebounded slightly from the foreclosure crisis and Great Recession. Enacted by Congress in 1975, the Home Mortgage Disclosure Act (HMDA) requires an annual public accounting of the nation’s mortgage lending. Its data provides critical information for both the public and financial sectors by alerting the nation to trends on the groups of...
September 21, 2017
WASHINGTON, DC. - Today and as part of the annual Congressional Black Caucus Foundation’s 47th Annual Legislative Conference, the National Association of Real Estate Brokers (NAREB) will convene a panel of housing stakeholders this afternoon. The session entitled, “State of Housing in Black America: Considering the Future,” will examine mortgage industry practices, and whether the Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in 2010, created barriers for African-Americans seeking homeownership opportunities. Nikitra Bailey, an executive vice president with the Center...
June 29, 2017
Under Consideration Today, House Financial Services Appropriations Bill Would Weaken Critical Protections for Consumers WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL) denounced the House Appropriations Committee’s Financial Services and General Government FY ’18 appropriations bill, which is being marked up right now in subcommittee. The legislation proposes a dangerous deregulatory agenda, including the removal of borrower protections in the housing market and the evisceration of the Consumer Financial Protection Bureau (CFPB). Created in the wake of the 2007 financial...
June 29, 2017
WASHINGTON, D.C. - Today, Center for Responsible Lending (CRL) President Mike Calhoun testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs for a hearing entitled, “Principles of Housing Finance Reform.” In his testimony, Calhoun argued that any proposed legislation to reform the U.S. housing system must ensure broad access for all creditworthy borrowers and permit equal participation for small lenders and community banks. Calhoun also cautioned that reform has already occurred with the Housing and Economic Recovery Act of 2008, and through the new independent...
June 21, 2017
Measure Would Strengthen Enforcement of Consumer Protection Laws for Military Servicemembers and their Families WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL) announced its endorsement of the Military Consumer Enforcement Act, a bill introduced today by former Army Ranger Senator Jack Reed (D-R.I.) and by Senator Sherrod Brown (D-Ohio), Ranking Members of the Armed Services and the Banking, Housing, and Urban Affairs committees respectively. The legislation would give the Consumer Financial Protection Bureau (CFPB) authority to oversee and enforce compliance with...
June 6, 2017
WASHINGTON, D.C. – A group of national civil rights organizations sent a letter to U.S. Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) today urging them to fight against legislative efforts that would eliminate affordable housing goals in GSE reform. The letter is in response to a recent housing report released by the Bipartisan Policy Center. The report recommended policies that would make it extremely difficult for low-income families and communities of color to participate in the housing market today and in the future. The letter was signed...
January 23, 2017
Cost-savings for home buyers purchasing a Federal Housing Administration (FHA)-backed mortgage loan was eliminated by the first executive order of the new Trump Administration. The move rolls back a premium rate cut of .25 percent that the U.S. Department of Housing and Urban Development announced early last week, which aimed to save borrowers, especially first-time homebuyers, hundreds of dollars a year on annual mortgage insurance premiums. Center for Responsible Lending (CRL) senior researcher Sarah Wolff released the following statement: The Administration’s actions will make it...
January 12, 2017
The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing today to consider the nomination of Dr. Ben Carson to be Secretary of the U.S. Department of Housing and Urban Development (HUD). Nikitra Bailey, an Executive Vice President for the Center for Responsible Lending's (CRL) released the following statement: The work of the Department of Housing and Urban Development contributes greatly to helping hard working families pursue their American dreams. Safe, decent, and affordable housing free of discrimination is a vital rung on the opportunity ladder. Dr. Ben...
November 22, 2016
The Center for Responsible Lending (CRL), along with the Leadership Conference on Civil & Human Rights and NAACP, applauded the U.S. Department of Energy for strengthening its Best Practice Guidelines for Residential PACE Financing in final guidance issued Friday. The Property Assessed Clean Energy (PACE) program is intended to finance energy efficient home improvements through municipal loans, but low-income homeowners have risked losing their homes to foreclosure through the program because appropriate consumer protections have been absent. "PACE loans can be dangerous for...

Pages