FOR IMMEDIATE RELEASE
August 12, 2021
Media Contact: Izzy Woodruff | 202-898-1661 | IWoodruff@nationalfairhousing.org
NFHA President and CEO Releases Statement Applauding HUD and FHFA Collaboration to Advance Fair Housing and Fair Lending Enforcement
Washington, D.C. — Earlier today, the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) entered into a first-of-its kind Memorandum of Understanding (MOU) strengthening the agencies’ enforcement of the Fair Housing Act and oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. The MOU emphasizes increased information sharing and coordination between the two agencies.
Lisa Rice, President and CEO of the National Fair Housing Alliance, released the following statement on the announcement of the MOU:
“Housing discrimination is an ongoing evil in our country, from continued neighborhood segregation and inequitable distribution of resources to appraisal bias and unequal homeownership opportunities. I applaud the bold leadership of Secretary Marcia Fudge and Acting Director Sandra Thompson in establishing the fair housing and fair lending Memorandum of Understanding between the agencies they lead. For over 50 years, there are important components of the Fair Housing Act that have never been effectively enforced. Without full enforcement of the law, the racial wealth gap will remain stubbornly entrenched. Moreover, the racial homeownership gap and, in particular, the Black/White gap, which is larger today than it was when the Fair Housing Act was passed, will continue to widen.
“Increased information sharing and coordination between agencies will ensure that housing discrimination can be combatted on all fronts. With HUD and FHFA working together more effectively, communities throughout the country will be more equitably served as they rent, buy, and own homes.
“Critically important is the collaboration between HUD and FHFA in investigating discriminatory policies and practices and enforcing the law. In NFHA’s list of priorities for the Biden-Harris administration, we called for both HUD and FHFA to increase their fair housing and fair lending oversight of the Government Sponsored Enterprises, including Fannie Mae and Freddie Mac, and set up an infrastructure for enforcing the GSEs’ compliance with our nation’s fair housing laws. This MOU is a huge step toward achieving this goal.”
The National Fair Housing Alliance (NFHA) is the country’s only national civil rights organization dedicated solely to eliminating all forms of housing and lending discrimination and ensuring equal opportunities for all people. Through its homeownership, credit access, tech equity, education, member services, public policy, community development, and enforcement initiatives, NFHA works to dismantle longstanding barriers to equity and build diverse, inclusive, well-resourced communities.