Here’s how to really help families obtain housing
- May 28, 2014
May 28, 2014, by James Carr
On May 15, the Senate Banking Committee approved a bill to restructure the U.S. housing finance system. The bipartisan proposal, which was drafted by Banking Committee Chairman Sen. Tim Johnson (D-S.D.) and Ranking Member Sen. Mike Crapo (R-Idaho), seeks to repair a broken housing market. That action is long overdue.
Mortgage originations are at their lowest level in 17 years, Millions of school teachers, firefighters, police officers, librarians, military personnel and other qualified moderate-income and low-wealth borrowers are unnecessarily denied access to home loans because lenders have, with overly rigid underwriting practices, overcorrected for their reckless and irresponsible lending leading up to the mortgage crisis.
Full Article: Here’s how to really help families obtain housing