hn0186 at handsnet.org
06-14-1995, 12:24 PM
Today's FOCUS at HUD
(from DHUD's Internet gopher, which can be reached at gopher//
gopher.hud.gov)
Wednesday, June 14
Secretary Cisneros expresses strong support to a House
Banking subcommittee for the Community Reinvestment Act, and
points out that the "new" CRA is part of the first and the best
of Reinvented Government, just like the new HUD. The CRA's
reinvention was intended to make federal policy morepractical,
people oriented and less burdensome, Cisneros notes.
After two years of efforts, the Administration's
comprehensivereview produced regulations that streamlined the
burdensomeaspects of CRA. CRA continues to be an important
source of funds for HUDinitiatives. In the National
Homeownership Strategy created bySecretary Cisneros and HUD's
partners, increased opportunitiesfor homeownership will be
possible through the creation of local lender community
reinvestment strategies and more affordableunderwriting
criteria by investors such as Fannie Mae andFreddie Mac.
CRA will help a transformed FHA to serve a greater
proportion of higher risk, lower-income, credit-worthy buyers
than any other entity, private or quasi-public. In the past two
years, FHA has taken action to increase the availability of
affordable homeownership opportunities, particularly in central
cities an other places where the "new" CRA can promote new
investment in communities.
Sent: June 14, 1995 9:53 am PDT Item: R009Zbl
This post transferred from the cdb-l mailing list
(from DHUD's Internet gopher, which can be reached at gopher//
gopher.hud.gov)
Wednesday, June 14
Secretary Cisneros expresses strong support to a House
Banking subcommittee for the Community Reinvestment Act, and
points out that the "new" CRA is part of the first and the best
of Reinvented Government, just like the new HUD. The CRA's
reinvention was intended to make federal policy morepractical,
people oriented and less burdensome, Cisneros notes.
After two years of efforts, the Administration's
comprehensivereview produced regulations that streamlined the
burdensomeaspects of CRA. CRA continues to be an important
source of funds for HUDinitiatives. In the National
Homeownership Strategy created bySecretary Cisneros and HUD's
partners, increased opportunitiesfor homeownership will be
possible through the creation of local lender community
reinvestment strategies and more affordableunderwriting
criteria by investors such as Fannie Mae andFreddie Mac.
CRA will help a transformed FHA to serve a greater
proportion of higher risk, lower-income, credit-worthy buyers
than any other entity, private or quasi-public. In the past two
years, FHA has taken action to increase the availability of
affordable homeownership opportunities, particularly in central
cities an other places where the "new" CRA can promote new
investment in communities.
Sent: June 14, 1995 9:53 am PDT Item: R009Zbl
This post transferred from the cdb-l mailing list