Table of Contents

Coalition calls on Congress to expand FHLBank contributions to affordable housing programs
In a letter to congressional leaders, the Coalition for Federal Home Loan Bank Reform (CFR) called for action that would require FHL Banks to contribute at least 30% of their net income each year to support community development and affordable housing programs.

Organizations ask HUD to take steps to protect disaster relief for property owners lacking formal title
In a letter to HUD, consumer-interest organizations called on the agency to require states and localities receiving Community Development Block Grant Disaster Recovery funds to accept affidavits as proof of ownership in a property from homeowners applying for repair, reconstruction and relocation funds after a natural disaster.

Organizations weigh in on CFPB plan to mandate greater language assistance from mortgage loan servicers
In comments submitted to the CFPB, organizations expressed support for the agency’s efforts to improve the availability of language assistance to mortgage borrowers seeking loss mitigation assistance, and offered suggestions for improvement and smoother implementation.

Advocates comment on CFPB’s proposals to streamline loss mitigation procedures for struggling mortgage borrowers
Consumer and housing advocates submitted comments to the Consumer Financial Protection Bureau commending the agency’s efforts to make streamlined loss mitigation reviews for struggling mortgage borrowers a permanent option, while also offering suggestions.

Advocates support review of Federal Home Loan Banks mission
The Coalition for Federal Home Loan Bank Reform and dozens of other advocacy organizations submitted a letter to the Federal Housing Finance Authority urging reforms to the Federal Home Loans Banks mission statement.

Consumer Action endorses National Tenants Bill of Rights
Consumer Action gave its endorsement to a proposed National Tenants Bill of Rights, which would correct the power imbalance between tenants and landlords.

Request for a seven-month extension of VA foreclosure pause
Nearly three dozen consumer and housing advocacy organizations signed on to a letter to the Department of Veterans Affairs (VA) urging the agency to extend the foreclosure pause of VA-guaranteed loans from May 31, 2024, to December 31, 2024.

FHFA should require new homes financed with Fannie/Freddie-backed mortgages to meet energy code requirements
More than 75 organizations urged the FHFA to require that all new homes purchased with mortgages backed by Fannie Mae and Freddie Mac meet updated energy code requirements.

Endorsement for INSURE Act, to address crisis in home insurance market
Advocates expressed support for the Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act, which would create a federal catastrophic reinsurance program to insulate consumers from unrestrained homeowners insurance cost increases.

Consumer Action supports bill to ban hedge fund ownership of residential housing
Consumer Action is a supporter of the End Hedge Fund Control of American Homes Act of 2023, which would address an urgent issue that has made it more difficult for middle-class Americans to become homeowners and is contribution to America’s twin crises of housing unaffordability and wealth inequality.