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FOR IMMEDIATE RELEASE Contact:
December 16, 2013 Camila Gallardo
(305) 215-4259
cgallardo@nclr.org
Washington, D.C.—Thursday, December 19, 2013, from 11:30 a.m. to 1:30 p.m., NCLR (National Council of La Raza) will host a community field-hearing to discuss perspectives on pending housing legislation that is set to impact market access and affordability for low income communities. The Corker-Warner bill (S. 1217), would reform the country’s housing finance system by replacing government-sponsored enterprises, Fannie Mae and Freddie Mac with a new government agency: Federal Mortgage Insurance Agency. The move would shift more of the risks of mortgage lending to the private sector. While proponents view the bill as a way to help the housing market, some have wondered how or if it will help America’s diverse home buyers in accessing affordable homeownership opportunities and financing.
The National Council of La Raza and the Center for American Progress released a study last spring, “Making the Mortgage Market Safe for America’s Families,” which outlined the needs in the current housing market and set forth a proposed set of principles necessary to support a broad, accessible and affordable housing market. Among the recommendations—the establishment of a fully funded Market Access Fund to promote broader access to mortgage credit and to foster new and safe mortgage products as a way of also increasing access and the current bill.
The field hearing will explore the potential impact of the bipartisan bill on the community and the housing market. Industry leaders, interested community members and housing organizations will join NCLR at the McCoart Administration Building in Woodbridge, Va., for the timely discussion.
MEDIA ADVISORY
What: Virginia Field Hearing on Housing Finance Reform
When: Thursday, December 19, 2013
11:30 a.m. to 1:30 p.m.
Where: McCoart Administration Building
Powell’s Creek Conference Room
1 County Complex Court
Woodbridge, VA 22192
Who: Moderator: Enrique Lopezlira, Senior Policy Advisory, Economic Policy, NCLR
Michelle Maiwurm, Legislative Office of Senator Mark Warner
James Carr, Senior Fellow, Center for American Progress and Distinguished Scholar with The Opportunity Agenda
Father Gerry Creedon, Catholics for Housing
Mercy Struthers, Casals Realtors
Bill Vaughan, Chief Economist, Prince William County Office of Finance
Lunch will be provided for participants. Participants should RSVP their attendance to ldelavara@nclr.org to ensure a meal. Media interested in attending please RSVP to Camila Gallardo, NCLR, at cgallardo@nclr.org or (305) 215-4259.
NCLR—the largest national Hispanic civil rights and advocacy organization in the United States—works to improve opportunities for Hispanic Americans. For more information on NCLR, please visit www.nclr.org or follow along on Facebook and Twitter.
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