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POLICY
POSITIONS
Overview
The National Association of Hispanic Real Estate Professionals (NAHREP) annually reevaluates its
position on a number of key policy issues which have a direct impact on the Associations ability to accomplish
its mission. In 2015, the renewal of affordable housing goals for Fannie Mae and Freddie Mac (GSEs) is of
such critical near term importance that NAHREP is compelled to issue this Call to Action to regulators and
policymakers.
An executive summary of NAHREPs Call to Action and Policy Priorities are listed below:
POLICY PRIORITY
ACCESS TO CREDIT FOR HOMEBUYERS
Narrow denitions of creditworthiness make it especially difcult for minority and rst-time borrowers to qualify
for and obtain a mortgage. Government regulators should address market factors that are restricting access to
credit for minority borrowers.
POLICY PRIORITY
INVENTORY DISPOSITION
To ensure community development and opportunities to build generational wealth in Hispanic and other diverse
communities through owner-occupied homeownership, the laws, regulations and business practices associated
with single-family property REO disposition should provide ample opportunity for sales to Owner Occupants
BEFORE making the property available for sale to investors.
POLICY PRIORITY
IMMIGRATION REFORM
2 015
POLICY
POSITIONS
Congress must pass comprehensive immigration reform to provide permanent legal status to the 11.2 million
undocumented individuals who already live and work in the U.S. Immigration reform is needed to allow these
immigrants to fully participate in the economy, including homeownership. This reform should include
provisions for addressing a pathway to citizenship, deportation relief, and immigrant and non-immigrant
work visas.
Call to Action
Overview
The Federal Housing Finance Agency (FHFA) is required by law to establish affordable housing goals for
single-family and multifamily mortgages purchased by the two Government Sponsored Enterprises (GSEs),
Fannie Mae and Freddie Mac. The goals established by the FHFA fall into the following categories
2015
POLICY
POSITIONS
Policy Priority
Overview
The Census Bureau reported at the end of 2010 that there were approximately 10 million single-family
VACANT residential properties in America. Essentially, America was on sale. But unfortunately, many
prospective single-family owner occupants were not able to take advantage of this once-in-a-lifetime phenomenon,
because an abundance of these properties were sold to institutional investors or absentee landlords for cash.
The traditional single-family owner occupant (often rst-time) homebuyer simply never had a chance to buy
these properties as their bids that in almost every case required nancing were passed over for cash offers
and more rapid closings. This situation resulted in less available inventory in many areas in the U.S. and also
resulted in severe increases in rents due to a shortage of inventory making homeownership unattainable for
those traditional single-family owner occupant buyers. This problem manifested itself through the general
listing of property for sale, bank sales of REO inventory, FHA sale of foreclosures, and Fannie and Freddie sale
of property.
2015
POLICY
POSITIONS
Policy Issue: