Published: June 2012

Federal Housing Finance Agency’s Strategic Plan

Consumer groups are disappointed that a proposed strategic plan released by the Federal Housing Finance Agency lacks detail on how to better achieve access and affordability for underserved yet prepared borrowers.

The Federal Housing Finance Agency’s (FHFA) strategic plan for FY13-FY17 contains a number of important objectives on which Consumer Action and the undersigned organizations agree, including increasing the level of transparency and equal access to small lenders. In an effort to better improve the outcomes of the strategic plan, the National Council of La Raza (NCLR) offers additions in an effort to strengthen the plan’s stated objectives like monitoring access to housing markets for modest income and households of color and ensuring equal footing for small institutions in GSEs.

While we agree on the elements outlined above, we are disappointed that the proposed strategic plan lacks detail on how to better achieve access and affordability for underserved yet prepared borrowers. To support FHFA’s thinking on this topic, NCLR offers five recommendations:

1. Avoid overreliance on the Federal Housing Administration (FHA)
2. Create a GSE infrastructure that eliminates the dual credit market
3. Creditworthiness should be based on a comprehensive analysis of a borrower’s income, assets, and debts
4. Ensure that the GSEs are not downsized at the expense of families who would most benefit
5. Substantially improve current foreclosure prevention efforts.

Lead Organization

National Council of La Raza (NCLR)

Download PDF

Federal Housing Finance Agency’s Strategic Plan   (Civil_Rights_Perspective_on_FHFA_6.13_.pdf)