The issues policymakers are debating today will determine the shape of the mortgage market of the future. Some of the central issues before us include the fate of the government-sponsored enterprises (Fannie Mae and Freddie Mac), down payment requirements and the future of the Federal Housing Administration (FHA). CRL is advocating for:
- Affordable, sustainable mortgages to be made available to all credit-worthy borrowers, including people of color and low wealth families. This includes affordable FHA and conventional mortgage loans.
- No government mandated down payment requirements.
- A continuing government role in supporting the mortgage market.
- Strong foreclosure prevention options for borrowers.