NAHREP continues to advocate for additional relief as the COVID-19 crisis is far from over. On May 8, 2020, NAHREP wrote a letter to Congress and the Administration urging critical policy actions needed in order to protect Latino families and small businesses as Congress moves to pass the phase 4 COVID-19 stimulus package.
NAHREP submitted a letter on April 8, 2020 urging the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to rethink some of the proposed changes to the Community Reinvestment Act (CRA). NAHREP believes that the current proposal would result in significantly fewer loans, investments and services to Latino communities. While some of the changes are positive, the proposed rule, as it stands today could jeopardize investments made to communities with high Latino populations, reduce access to credit for credit worthy families, and ultimately hamper economic activity within the housing market at a time when it is most urgently needed.
In order for real estate professionals to continue to do business from the safety of their homes, it is imperative that current regulations preventing remote home sales and mortgage transactions be lifted. NAHREP urges law makers to remove all red tape involving remote home sale transactions. The Remote Online Notarizations (RONs) will allow a notary and signer to safely and securely execute electronic documents using a two-way audiovisual communication. As of now, 23 states have approved the use of RON technology. However, borrowers in more than half the country remain unable to close on a real estate transaction without an in-person signing.
Slowing the spread of COVID-19 and preventing the loss of human life must be a priority. In addition, it is critical that government swiftly and decisively addresses the impact the coronavirus is having and will continue to have on the nation’s economy. NAHREP wrote a letter urging immediate action to protect the housing industry and Latino families through these difficult times.
In a letter submitted to the Department of Housing and Urban Development (HUD), NAHREP urges HUD to maintain the standard the agency adopted in its 2013 final rule, “Implementation of the Fair Housing Act’s Discriminatory Effects Standard.” The letter highlights several key concerns with the proposed rule change, including algorithmic bias, stifled innovation and negative consumer impacts.
NAHREP released a statement on June 26, 2019 regarding the White House’s executive order signed Tuesday that establishes a White House Council on Eliminating Regulatory Barriers to Affordable Housing.
NAHREP met with Consumer Financial Protection Bureau (CFPB) staff on June 25, 2019 to discuss the expiration of the Qualified Mortgage Patch or “QM Patch.” In a letter directed to CFPB Director Kathy Kraninger, NAHREP highlights how the expiration of the QM Patch would be particularly detrimental to Latinos homebuyers.
The National Association of Hispanic Real Estate Professionals (NAHREP) is disappointed with the U.S. Department of Housing and Urban Development’s (HUD) decision to officially deny Federal Housing Administration (FHA) loans to Deferred Action for Childhood Arrivals (DACA) recipients, provided in a letter to U.S. Representative Pete Aguilar (CA-31) on June 11, 2019.
NAHREP testified in front of the House Financial Services Committee, Subcommittee on Housing, Community Development and Insurance on May 8, 2019 in a hearing titled The State of and Barriers to Minority Homeownership.