Table of Contents

Potential violation of Equal Credit Opportunity Act
Consumer Action joined coalition efforts in asking CFPB to intervene regarding the Federal Housing Administration’s new policy requiring mortgage applicants to pay off disputed accounts.

100 groups joining CRC in a call for changes at FHFA
As public frustration with the Federal Housing Finance Agency builds, 97 community groups have submitted a detailed letter to FHFA

Organizations demand immediate foreclosure policy changes from FHFA
In a letter to Edward DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA), Consumer Action and other community groups voiced their concerns with the agency's practices and demand that they temporarily stop Fannie Mae and Freddie Mac foreclosures.

Qualified mortgages definition must go further to protect homeowners
Consumer Action joined in a coalition letter to Richard Cordray, Director Consumer Financial Protection Bureau, making specific recommendations regarding the definition of Qualified Mortgages (QM) for homeowners.

Mortgage servicers must be held to strong standards by consumer agency
Consumer Action signed onto a letter asking the Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau (CFPB), Raj Date, to advance strong national mortgage servicing standards.

Regulators should balance fairness and safety in addressing rules for home loans
California community groups, with Consumer Action, sent a letter to regulators with specific recommendations to strengthen proposed Qualified Residential Mortgage (QRM) rules, including the sale of only safe products with fair pricing and abolishing the 20% down payment requirement for home loans.

5% risk retention for lender should not mean 20% down payment on mortgages for buyers
Consumer Action's Deputy Director of National Priorities Ruth Susswein sent a letter to the Federal Reserve Board asking for a modification to the Qualified Residential Mortgage (QRM) rule so that middle class families are able to afford a home.

Protect fair housing rights in Alabama
Alabama’s HB 56 is the latest effort by a state or local government to restrict the rights of immigrants.

Real debt help
Consumer Action partnered with other national consumer groups to provide tips on how to avoid debt relief scams and bogus mortgage relief assistance. The Get Real Debt Help fact sheet explains debt relief danger signs, rules on upfront fees, and where to turn for real debt help. (Available in Spanish and English).

Unemployed homeowners are left in the dust, while HUD waits
Consumer Action and its coalition partners send a strong letter to Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development, urging him to quickly implement the Emergency Homeowner Loan Program.