Civil and Human Rights Coalition Calls for Stronger Fannie Mae and Freddie Mac Role in Affordable Housing

WASHINGTON — Wade Henderson, president and CEO of The Leadership Conference on Civil and Human Rights, issued the following statement regarding its letter submitted to the Federal Housing Finance Agency emphasizing the critical role of Fannie Mae and Freddie Mac in realizing the dream of homeownership in communities of color:

“The Great Recession turned the American dream into a nightmare for hundreds of thousands of hardworking families, including in African-American and Latino communities. Almost six years later, a significant number of these families are still recovering and fighting to regain their financial security. For many, homeownership remains the primary indicator of that security and serves as a pathway to building our nation’s middle class.

To continue strengthening our housing market and ensuring shared prosperity, we must look to the future of Fannie Mae and Freddie Mac. Without strong leadership by Fannie and Freddie, many will be unable to access affordable 30-year fixed-rate mortgages. Our comments today speak to these central goals, and they recommend that any changes to the oversight and regulation of these agencies consider the unwinding of the conservatorship – which would allow the agencies to rebuild their capital and increase their lending capability.”

Wade Henderson is the president and CEO of The Leadership Conference on Civil and Human Rights, a coalition charged by its diverse membership of more than 200 national organizations to promote and protect the rights of all persons in the United States. The Leadership Conference works toward an America as good as its ideals. For more information on The Leadership Conference and its 200-plus member organizations, visit www.civilrights.org.

###