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Keep the American Dream Alive

Wednesday, January 29, 2014

During the annual State of the Union address, the President rightly called for housing finance reform that keeps the American Dream of homeownership alive for this and future generations. This Dream accounts for $10 trillion of our nation's economy and is a proven path towards upward mobility for millions of Americans. It is also why it is important to preserve the 30-year, fixed rate mortgage loan.

While measurable market improvements are occurring, the recovery is not yet benefiting everyone. Any legislative reform needs to fix what is broken and build on what is working. Congress must carefully approach reform efforts given the issue's complexity and impact on the housing market. A strong economic recovery depends on a healthy housing market.

Workable solutions must embrace key, basic principles:

  • Ensure access to responsible mortgage credit for all credit-worthy borrowers – including low wealth families, people of color and rural communities.

  • Enable small lending institutions the opportunity to fairly compete with larger ones.

  • Allow the marketplace – not Congress – to set down payment requirements.

  • Continue to fulfill a national role and serve all markets at all times.

CRL remains ready to work with Congress, the White House and all stakeholders to achieve these goals.


For more information, contact David Beck at (919) 956-4495 or