News and Events

New! Washington DC, September 11 -- Today, NCRC said that new data released by the Federal Reserve Board suggests that risky lending practices and a lax regulatory environment contributed to an unsafe and unsound marketplace and a decrease in credit availability in 2007. The data indicates that credit has been significantly reduced, as the number of loans fell by 3.5 million from 2006 to 2007. Minorities experienced the decline in access to credit most acutely.

NCRC is seeking affiliates nationally that are dedicated housing counseling agencies to provide expanded foreclosure prevention counseling to delinquent borrowers throughout the United States.

The National Community Reinvestment Coalition (NCRC) today said that the government’s takeover of Fannie Mae and Freddie Mac was unavoidable as a direct result of the failure of Congress and the Administration to address the ongoing foreclosure crisis. Earlier intervention to stem the foreclosure crisis would have been a more efficient and equitable use of taxpayer dollars. In addition to avoiding the collapse of financial institutions, doing so would have allowed millions of working families to maintain their homes.

In a recent speech at the Federal Reserve Bank of Atlanta, Jim Carr, NCRC's Chief Operating Officer, offered some thoughts on the future of the housing market. Jim prefaced his housing policy recommendations with a discussion of the current foreclosure crisis that he argues will impact housing and community development for years to come--particularly as it relates to lower-income and minority families and commuities.
 
View the speech here.