On Tues., June 29, Acting Director for the Federal Housing Finance Agency (FHFA), Sandra L. Thompson, presented a virtual listening session: “Closing the Gap to Sustainable Homeownership.”
During the presentation, Thompson recognized that irresponsible lending practices, particularly among communities of color, erased “years of progress” in closing the racial homeownership and wealth gaps.
According to Thompson, these formal listening sessions present an opportunity for the FHFA to hear from the public about sustainably closing the homeownership gap, asking for feedback from “stakeholders, experts and people with on-the-ground perspective to share.”
“Today there is a widespread lack of affordable housing and access to credit, problems that are especially concentrated in communities of color,” said Thompson during the presentation. “FHFA plays a vital role in both promoting access to mortgage credit nationwide and protecting the safety and soundness of the housing finance system. We do this through our supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Bank System.”
To read her public remarks in full, click here.