NACA submitted a letter to the U.S. Senate Banking Committee to urge opposition to S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act.” The financial marketplace does not need this so-called “regulatory relief” legislation. The bill overall would weaken protections for homeowners and expand the scope of risky activity for big banks and lenders to engage in at the expense of American consumers and the economy.
NACA joins with Americans for Financial Reform coalition to oppose H.R. 1699, the so-called Preserving Access to Manufactured Housing Act of 2017. This bill poses significant dangers for consumers and homebuyers by exempting manufactured housing lenders from requirements that protect borrowers against inappropriately high-cost loans.
Request for publication of the opinion issued in Mackovaska v. Bank of America.
The ability-to-repay rule has made a significant, positive impact in the lives of homeowners and has contributed to the restoration of a functioning mortgage market. This was crucial after the Great Recession rolled back a generation of progress on asset and wealth building through homeownership while decimating the economy. While further improvements to the rule are needed, the rule has restored common-sense principles to the origination market and has done so without restricting access to credit. In these comments, NACA joins organizations to offer a number of recommendations to strengthen the rule.
NACA joined organizations representing millions of Americans, in writing Senators to urge opposition of the nomination of Steven Mnuchin as Secretary of the Treasury.
NACA joins public interest groups on letter to Consumer Financial Protection Bureau Director Richard Cordray to recommend best practices for handling imminent mortgage complaints.