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Housing Task Force
Improve the Collection and Disaggregation of AAPI Housing Data
- Improve the collection of disaggregated data on Asian American and Pacific Islander (AAPI) community housing needs and on community development.
- Continue to push for the disaggregation of AAPI community lending data collected under the Home Mortgage Disclosure Act (HMDA).
Defend Critical Housing and Community Development Programs from Cuts
- Defend programs such as the Community Development Block Grant, Housing Counseling Programs, Native Hawaiian Housing Block Grant, and Section 202 for senior housing that would disproportionately impact AAPI and low-income people.
Advocate for Reforms in Secondary Mortgage Market
- Preserve access to affordable mortgages for AAPI low and moderate-income borrowers.
- Encourage collaborations with AAPI community organizations to make affordable mortgages available to people who have participated in homeownership counseling.
- Support practicable and reasonable government sponsored enterprise (GSE) reform that maintains access for qualified borrowers who can sustain homeownership.
Expand and Preserve Supply of Affordable Rental Housing
- Provide measures to make Section 8 vouchers more workable for preservation projects and support increased funding to meet demand for affordable housing.
- Revise the formula for Low Income Housing Tax Credits to factor in indicators of state housing needs.
- Fund the National Housing Trust Fund.
Eliminate Abusive and Fraudulent Lending Practices
- Continue to build on the Wall Street Reform Act and work to address abusive and fraudulent lending practices through strong consumer protection regulations.
Expand Access to Financial Services and Financial Education
- Defend legislation that strengthens and expands the Community Reinvestment Act (CRA).
- Continue to support and fund the Earned Income Tax Credit and Volunteer Income Tax Preparation programs.
Support Increasing Native Hawaiian Homeownership
- Protect and increase funding for the Native Hawaiian Housing Block Grant program.
- Expand financial literacy and homeownership assistance to Native Hawaiians throughout the State of Hawaii.
- Restore the maximum loan-to-value ratio for FHA 247 mortgage refinance and equity transactions to 95 percent – the level that is currently available nationally. The lower lending limit of 75 percent reduces access to home equity for Native Hawaiian families.
Promote Affordable Homeownership Opportunities
- Support housing counseling organizations that provide linguistically and culturally appropriate services.
- Support tax credits to subsidize the development and rehabilitation of affordable units for low- and moderate-income families for purchase.
- Support efforts to strengthen credit scoring models, such as the inclusion of reliable alternative data when assessing a homebuyer’s creditworthiness.