Concerns on Draft Plan Continue to Grow from Some Groups
March 2, 2018
Concerns have begun to mount for the Senate housing-finance reform draft proposal being developed by Sen. Bob Corker, R-TN, as the Center for Responsible Lending and National Urban League warned the plan would cost more and deliver less. The groups published a new research paper on March 1 outlining how the proposed legislation would be a blow to affordable housing by replacing current public interest mandates with “weak incentives.”“A doubtful structure of guarantors awarded unenforceable duties is simply not in our nation’s best interest. Nor is supporting systemic changes that omit community banks, credit unions, and other small lenders,” said Mike Calhoun, CRL’s president.