NAC Blog: First-time homebuyers can use positive rental payment history to qualify for FHA-issued mortgages

NAC

In some good news, late last month, the Federal Housing Administration (FHA) announced that it will allow first-time homebuyers to use positive rental payment history in their credit assessment to see if they are eligible for an FHA mortgage product. Positive rental payment history includes rental payments made on-time during the last twelve months. Adding this rental payment history criteria would allow first-time homebuyers who lack or have a lower credit score greater access to homeownership.

NAC Blog: Zoning 101: Exclusionary zoning as a barrier to housing production

NAC

The first comprehensive city zoning ordinance was created in New York City in 1916, in response to a 42-story building built in a Manhattan neighborhood that cast a seven acre shadow, leaving many of its neighbors in the dark. At the same time, New York and other cities across the country were grappling with industrial warehouses and factories cropping up near residential neighborhoods. What started as a public health measure, to protect citizens from pollutants and toxins emitted from industrial sites, quickly turned into a tool to segregate neighborhoods.

NAC Blog: Big Win: AB 2011 passes in California!

NAC

Speaking of zoning, in California, the governor recently signed a critical housing bill, AB 2011, “The Affordable Housing and High Road Jobs Act”. NAHREP, alongside other housing advocacy organizations across the state, supported this bill because of its potential to spur millions of affordable homes. AB 2011 allows for affordable housing development on commercially-zoned areas if it meets the affordability, labor, and environmental standards.

The National Association of Hispanic Real Estate Professionals (NAHREP®) Urges Congress to Act on DACA, Providing a Path to Citizenship for DREAMers

Statements

SAN DIEGO—October 11, 2022—The National Association of Hispanic Real Estate Professionals (NAHREP®) is disappointed in last Wednesday’s ruling by the Fifth U.S. Circuit Court of Appeals affirming the Deferred Action for Childhood Arrivals (DACA) policy as unlawful. Although the program remains in effect, its longevity and protections for DREAMers are at risk.

The National Association of Hispanic Real Estate Professionals (NAHREP®) Congratulates Priscilla Almodovar on Her Appointment as CEO of Fannie Mae

Statements

SAN DIEGO—September 30, 2022— The National Association of Hispanic Real Estate Professionals (NAHREP®) congratulates Priscilla Almodovar on her appointment by Fannie Mae (FNMA/OTCQB) as its Chief Executive Officer (CEO).Ms. Almodovar has spent her career serving the housing industry by advancing equitable and sustainable access to homeownership and quality affordable housing across America.

NAC Blog: Sneak Peek: 2022 State of Hispanic Wealth Report

NAC

In the fall of 2018, I had the opportunity to travel to Puerto Rico for a conference addressing the aftermath of Hurricane Maria. I had just started at NAHREP and was still getting acclimated to the culture of the organization. During that trip, I had the opportunity to get to know the Puerto Rico chapter well. It was through conversations with NAHREP leaders like Eric Haddock, Francisco Fernández, Enrique Morales, and Ivelisse Lopez, that it clicked for me that there was so much more to NAHREP than meets the eye.

For buyers of color, the housing market can be particularly troubling

NAHREP In The News

Over the next two decades, housing finance experts predict Hispanic homeowners will make up 70% of all new homeowners. That figure explains at least some of the palpable optimism among attendees of the policy summit the National Association of Hispanic Real Estate Professionals hosted this week in Washington, D.C. Gary Acosta, the trade association’s CEO, however, isn’t taking those projected gains as a given.

NAC Blog: Where do your candidates stand on housing?

NAC

If there is nothing else you take away from these blogs, let it be this one thing: You have so much more power than you think. Now it’s time to use it.When it comes to your elected officials, YOU are in charge. Don’t ever forget that. Every 2 to 4 years, you get to choose whether you want to keep your elected officials or to fire them. With that power comes a great deal of responsibility. And I know, ignorance is bliss. Most of us go about our days, solving problems that arise within our immediate families and/or businesses, and we don’t have time to “supervise or manage” our elected officials. But, if you think housing supply is the biggest issue impacting your clients and business right now, let’s do something about it!

NAC Blog: A look into Special Purpose Credit Programs

NAC

Last week, NAC Regional Director Imelda Manzo and I presented on the State of Hispanic Homeownership in San Diego for the San Diego Union Tribune. Following our presentation, one of the attendees asked us if there were any programs that were particularly targeted for the Latino community. This made me think about Special Purpose Credit Programs (SPCP) and the fact that we haven’t talked about them enough here on the blog.