|By Marketwired .||
|May 15, 2014 02:20 PM EDT||
WASHINGTON, DC--(Marketwired - May 15, 2014) -
Mike Calhoun, president of the Center for Responsible Lending, issued the following statement today:
Any mortgage finance reform needs to prioritize access to credit and affordability for all creditworthy borrowers -- and that's not what we see in the bill that passed the Senate Banking Committee today.
The proposal to overhaul the nation's housing finance system needlessly makes mortgages more expensive and less available placing homeownership out of reach for far too many American families. Without meaningful requirements to serve all markets nationally or follow fair lending obligations, the proposal undermines efforts to ensure equal access to mortgage credit for communities of color or modest incomes. At the same time, the bill allows the largest banks -- many that were at the center of the recent crisis -- to dominate the market while putting smaller banks and credit unions at a competitive disadvantage.
We appreciate the efforts of the Senate Banking Committee, but fundamental changes are needed to ensure a healthy and robust housing finance system that meets the needs of all American families and the American economy.
We applaud the efforts of all who worked hard to fix the bill's shortcomings and look forward to working with members of Congress to address problems with the current financing system that fueled the recent crisis without undermining or eliminating those aspects that provided affordable thirty year fixed rate mortgages to tens of millions of American households.
About the Center for Responsible Lending: The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. CRL is affiliated with Self-Help, one of the nation's largest community development financial institutions.
CRL experts are available for comment and interviews on the Senate Banking Committee proposal (commonly called "Johnson-Crapo.") To arrange a call, please contact Catherine An at [email protected] or 202-349-1878.
For more information:
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Aug. 30, 2016 07:00 PM EDT Reads: 913
Aug. 30, 2016 06:15 PM EDT Reads: 331
Aug. 30, 2016 05:45 PM EDT Reads: 3,586
Aug. 30, 2016 05:00 PM EDT Reads: 892
Aug. 30, 2016 04:15 PM EDT Reads: 960
Aug. 30, 2016 03:30 PM EDT Reads: 3,775
Aug. 30, 2016 03:00 PM EDT Reads: 854
Aug. 30, 2016 02:30 PM EDT Reads: 954
Aug. 30, 2016 02:30 PM EDT Reads: 1,041
Aug. 30, 2016 02:00 PM EDT Reads: 3,780
Aug. 30, 2016 01:45 PM EDT Reads: 660
Aug. 30, 2016 01:30 PM EDT Reads: 871
Aug. 30, 2016 01:20 PM EDT Reads: 273
Aug. 30, 2016 01:15 PM EDT Reads: 2,067
Aug. 30, 2016 01:00 PM EDT Reads: 3,236