NAHREP Policy Positions

NAHREP 2014 Policy Position Statement


Overview

Annually, the National Association of Hispanic Real Estate Professionals® (NAHREP®) reevaluates its position on a number of key policy issues which have a direct impact on the Association's ability to accomplish its mission. In 2014, immigration reform is of such critical near term importance that NAHREP is compelled to issue this Call to Action to policy makers on the subject. The nation's immigration laws must be reformed without further delay, and NAHREP urges policymakers to seriously consider the solutions outlined in its Call to Action.

An executive summary of NAHREP's Call to Action and Policy Priorities are listed below:

  • Policy Priority - Inventory Disposition: There is currently a lack of inventory in the marketplace caused by the financial services industry's failure to manage distressed properties in the best interests of the community. Companies like Ocwen are purchasing large numbers of distressed loans, circumventing the professional real estate community, and liquidating assets in a way that continues to impact inventory levels and adversely aects community revitalization.
  • Policy Priority - Housing Finance Reform: NAHREP supports comprehensive reform of Fannie Mae and Freddie Mac (the "GSEs"); however it is critical they are replaced with other government programs that provide the same level of support to the aordable housing market.



2014 Call to Action - Immigration Reform

We urge Congress to enact immigration reform and we have highlighted the positive impact passing this reform legislation will have on our economy. NAHREP calls on Congress to take specific actions we outline to ensure passage of immigration reform in this 113th Congressional session.

You can read the report using the viewer below or click here to download the PDF file.

NAHREP 2014 Policy Position Statement

FHFA Request for Input - Draft Private Mortgage Insurance Eligibility Requirements and Request for Input on the G-Fees Charged by the GSEs


G-Fees Charged by the GSEs

New Mortgage Rule is a Step Forward for Sustainable Hispanic Homeownership

Statement from the National Association of Hispanic Real Estate Professionals on the re-proposed qualified residential mortgage rule

SAN DIEGO - The National Association of Hispanic Real Estate Professionals (NAHREP) applauds the release of proposed regulatory changes to define the Qualified Residential Mortgage (QRM) rule. By aligning the QRM with the Qualified Mortgage (QM) rule released earlier this year, NAHREP believes this alignment of mortgage rules will help address industry concerns about further restricting access to credit. Harmonizing the two rules ensures safe and sound lending protections are put in place, without unduly restricting the housing market from efficiently accessing private capital.

Hispanics are expected to account for 40% of all new household formations and are anticipated to be the primary driver of first time buyers for this next generation. NAHREP applauds the revision from an earlier version of QRM which proposed an onerous 20 percent down payment requirement for all QRM loans. This requirement would have had a material impact on the affordability of low-down-payment loans, and would disproportionally have affected homeownership prospects for Latino households. NAHREP, along with many other constituencies, welcomes this new direction in policy.

"This new proposal takes into account the feedback from the broad range of stakeholders in the housing industry, "said Juan Martinez, president NAHREP. "Aligning the two mortgage rules was a top policy priority for NAHREP as it allows more Hispanic households, who are already motivated to achieve homeownership, to take part in the American dream."

NAHREP additionally urges regulators to move swiftly to finalize rule changes once this next period of public comments concludes.

NAHREP applauds President Obama

NAHREP applauds President Obama for affirming the importance of immigration reform as a key influencer in fixing our ailing housing economy. NAHREP estimates comprehensive immigration reform could result in an influx of $500b into the economy from an estimated 3M individuals who would have obtained legal status and would be eligible to finance a home. A copy of our report is available here. We urge the House to pass the bipartisan immigration reform bill already passed in the Senate.

NAHREP also supports the President's commitment to protect the 30-year mortgage and maintain a federal backstop as elements of a healthy housing market, with private capital providing a backbone for the overall market. These efforts will help to maintain access to homeownership for Hispanics and others.

Hispanics and other diverse homebuyers will continue to fuel the housing market for the foreseeable future. NAHREP urges the Obama administration to lay out specific objectives for our secondary mortgage market to provide additional liquidity for low down payment affordable mortgages. "If the government is going to continue to provide guarantees in the mortgage market it must focus on segments of the market that are not being adequately filled or served by the private sector" said Juan Martinez, NAHREP President. "The elimination of Fannie Mae and Freddie Mac must include a suitable replacement for their affordable housing mandates" concluded Martinez.


Immigration Reform

NAHREP applauds Obama administration action to fill FHFA director position

The National Association of Hispanic Real Estate Professionals (NAHREP) applauds the Obama administration's action to fill the vacant position of director of the Federal Housing Finance Agency (FHFA). As conservator of Fannie Mae and Freddie Mac, FHFA has the critical responsibility of ensuring the GSE's continue to provide a reliable source of liquidity for the housing finance industry with substantial focus on low to moderate income borrowers. NAHREP looks forward to working with the FHFA and its director, once confirmed, to help stabilize America's housing markets.



NAHREP Goes On The Record On Key Issues

The National Association of Hispanic Real Estate Professionals has weighed in on key issues that impact the housing market through a series of letters recently sent to decision makers and policy makers in the Beltway. The purpose of the letters is to exert the association's influence on issues that impact homeownership, affordable housing and access to mortgage capital for Latinos.

Click on the images below to read each letter.

FHA MMI Fund


FHA MMI

Fannie Mae REO Pilot Program Review


FHFA