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2014 Housing Summit II - Lissette Flores

April 8, 2014
1:45 pm – 3:00 pm
Senate Visitor Center – Room SVC 209

Latino Homeownership and Housing Counseling: An Alternative to FHA Lending Policies ”

Moderated by CHCI Housing Graduate Fellow Lissette Flores

2014 Housing Graduate Summit White Paper - Lissette Flores

This panel will discuss recent policy changes that could prove to be detrimental to low-income Latino homeowners as well as future homebuyers. Recently, the Federal Housing Administration (FHA) changed its lending policies to increase its insurance fund, which plummeted when the housing market crashed. Because of the policy changes, many low-income Latino families will no longer qualify for FHA-backed loans. Rather than increase access to homeownership, the FHA’s new policy is hindering the process, making homeownership nearly impossible. By requiring higher down-payments, scrutinizing credit scores, and charging higher up-front and monthly insurance premiums, the FHA is hindering the ability for families to purchase homes. An important way for FHA to assist homebuyers is by providing mandatory housing counseling. Research shows that homeowners who receive pre-purchase counseling are less likely to default on their loans, thus benefiting families, lenders and the FHA.

Panelists:

Sarah Gerecke, Deputy Assistant Secretary for the Office of Housing Counseling, U.S. Department of Housing and Urban Development (HUD)

Liza Getsinger, Senior Policy Associate, National Housing Conference

Debby Goldberg, Special Project Director, National Fair Housing Alliance

The 2014 CHCI Young Latino Leaders Summit Series is the culmination of CHCI’s premier, nine-month Graduate Fellowship Program.


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