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Housing
CAPAC Housing Taskforce
Chair Rep. Al Green (TX-09)
2201 Rayburn
(202) 225-57508
algreen.house.gov
Defend Critical Housing and Community Development Programs from Cuts
- Defend programs such as the Community Development Block Grant, Housing Counseling Programs, Native Hawaiian Block Grant, Neighborhood Stabilization Program, Home Affordable Modification Program (HAMP), Emergency Mortgage Relief Program, Federal Housing Administration (FHA) Refinance Program and Section 202 for senior housing that would disproportionately impact AAPI and low-income people.
Advocate for Reforms in Secondary Mortgage Market
- Preserve and keep intact access to affordable mortgages for AAPI low and moderate-income borrowers.
- Encourage collaborations with AAPI community organizations to make affordable mortgages available to people who have participated in homeownership counseling.
- Support practicable and reasonable government sponsored enterprise (GSE) reform that maintains access for low to middle-income AAPI qualified borrowers who can sustain homeownership.
Support Community and Economic Development Programs
- Support programs that strengthen access to services, job opportunities, and capital, including Community Services Block Grants.
- Increase participation of AAPI and immigrant communities in Community Development Financial Institutions Fund Programs; reauthorize the New Markets Tax Credit; and reauthorize the Assets for Independence Act.
Expand and Preserve Supply of Affordable Rental Housing
- Provide measures to make Section 8 vouchers more workable for preservation projects and for non-profits to use in low-income housing developments.
- Revise the formula for Low Income Housing Tax Credits to factor in indicators of state housing needs.
- Fund the National Housing Trust Fund.
Eliminate Abusive and Fraudulent Lending Practices
- Continue to build on the Wall Street Reform Act and work to address abusive and fraudulent lending practices through strong consumer protection regulations.
Expand Access to Financial Services and Financial Education
- Defend legislation that strengthens and expands the Community Reinvestment Act (CRA) to bring investments for education, homeownership, and entrepreneurship, and continued focus on affordable housing and community economic development investments in low-income APA neighborhoods.
- Continue support and funding for the Earned Income Tax Credit and Volunteer Income Tax Preparation programs.
Support Increasing Native Hawaiian Homeownership
- Protect and increase funding for the Native Hawaiian Housing Block Grant program.
- Expand financial literacy and homeownership assistance to Native Hawaiians throughout the state of Hawaii.
- Restore the maximum loan-to-value ratio for FHA 247 mortgage refinance and equity transactions to 95 percent – the level that is currently available nationally. The lower lending limit of 75 percent reduces access to home equity for Native Hawaiian families.
Promote Affordable Homeownership Opportunities
- Support housing counseling organizations that provide linguistically and culturally appropriate services.
- Support tax credits to subsidize the development and rehabilitation of affordable units for low- and moderate-income families for purchase.