This year’s #FinHealthPulse U.S. Trends Report – our key annual report – offers an inside look at Americans’ financial lives during unprecedented times. Learn which historically marginalized groups experienced #finhealth gains and see who’s still at risk.
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Ellen Seidman
@esseidman
Non-Resident Fellow, Urban Institute. Work in housing finance, community development and consumer finance
Ellen Seidman’s Tweets
COVID relief worked; can we build on that to improve the lives of all Americans?
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Join me, community leaders and the for a virtual convening of #communitydevelopment experts on Feb 4 at 2 pm CT to discuss the #CommunityReinvestmentAct’s impact and how it can be strengthened further. Find more information & register: bit.ly/2LJPJKp
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If you’re struggling to pay your mortgage due to #COVID19, there may be immediate help available. Talk to a HUD-approved housing counselor for free advice on what to do next. #COVIDhelpforhome Call: 800-569-4287
Online: cfpb.gov/housing
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Temporary relief and changes in spending habits may have helped the average American
improve their #finhealth this year, but several groups saw no improvement at all. Data show we
need to do better for all, not just for some. #FinHealthPulse
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New #FinHealthPulse data reveals serious inequities, amplified by the pandemic. As of Aug 2020, only 15% of Black people and 24% of Latinx people were
Financially Healthy, compared with 39% of White people and 39% of Asian Americans.
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Great to see evidence-based rulemaking in the Federal Reserve’s new CRA proposal.
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Federal Reserve’s new CRA proposal, adopted unanimously, focuses on needs of low and moderate income communities, racial equity and financial inclusion. Exploring Proposals to Update and Strengthen Community Reinvestment Act ...
We all have a part to play in improving #financialhealth. In our new #EMERGEEverywhere podcast, talks w/ of about his experiences w/ financial inequality, empathy, & accountability. Listen, subscribe & share @
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We're seeing a slow but steady assault on public data about the mortgage market and credit in low and moderate income communities. Facts matter, and we need them for good public policy.
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The Community Reinvestment Act is a critically important part of the ecosystem supporting the financial health of low- and moderate-income people and communities. Come participate in our discussion of what the proposal form the OCC and FDIC would do.
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In fact, COVID-19 shows the importance of keeping CRA strong, healthy and focused on the most vulnerable communities.+
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#COVID19 hasn't changed the need to keep talking about the #CommunityReinvestmentAct. Join an @urbaninstitute webinar next week. urban.org/events/whats-n @MortgageLaurie @esseidman
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Is this the end of the Community Reinvestment Act? The risks to communities and why it matters. #CommunityReinvestmentAct urbn.is/2Rrd3LD
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Fed Governor on how to do rulemaking right in a critical area: community reinvestment
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Link to the speech which articulates the details: federalreserve.gov/newsevents/spe
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Proposed change would particularly affect information about rural and LMI areas, and multifamily loans.
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@esseidman, Jun Zhu and I submitted comments today to @CFPB on why they should not cut back on information the public has about the mortgage market by increasing the reporting threshold for mortgages from 25 to 50 or, even worse, 100 loans. urbn.is/31mHUwZ
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CFPB is proposing to further reduce the amount of information regulators and the public have about the critically important mortgage market. See our comment about why that's a very bad idea. urbn.is/31mHUwZ
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For more on the problems in the current CFPB proposals discussed in this editorial, see our recent blog: urban.org/urban-wire/cur
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Perhaps the most obvious lesson from the 2008 financial crisis was the need for stricter supervision of mortgage lending.
It seems the lesson was not clear enough for the Trump administration to grasp.
nytimes.com/2019/05/22/opi
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From @GregHinz: Affluent white neighborhoods draw nine times as much investment capital as poor black areas, especially for housing, the Urban Institute concludes in a report right in the new mayor's wheelhouse.
chicagobusiness.com/greg-hinz-poli
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2 recent proposals would reduce the information available to stakeholders & decrease our collective understanding of the mortgage market, making it less efficient and making policymaking more speculative. No one should want that outcome.
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Couldn't be happier with CFSI's new identity as the Financial Health Network . Financial health of households and communities is critical to our psychological, physical, moral and economic health. So glad to be part of again.
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CFPB needs to know why HMDA matters. Tell them your story.
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"HMDA reporting can and should be improved, but the answer isn’t to collect less information, it is to collect information more intelligently," write @MortgageLaurie & @esseidman. urbn.is/2QbrItg
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Want to really understand how affordable housing is to renters in your city? And whether it's attracting potential new residents? Great new research by and Jun Zhu
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As an advisor to the U.S. #FinHealthPulse, I'm excited to share the latest report from on the financial lives of LMI Americans age 50. The report leverages data from the Pulse to drive innovative #FinTech solutions. #DisruptAging #FinHealth bit.ly/2Bthtu7
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Lively panel discussion of CRA modernization, focus on community development, with , Lisa Mensah, Jim Matthews, Josh Silver and Theresa Stark
Cheers to 5 years! The ’s Housing Finance Policy Center celebrated our 5yr anniversary w/ friends & supporters, & toasted the impact our Center has had on the Housing finance debate in DC. ❤️ our team & the impact we’ve made. Let’s elevate the debate higher!
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Twitter
I’m proud to be an advisor to ’s U.S. Financial Health Pulse, a groundbreaking research initiative on the financial lives of Americans. Explore findings from the 2018 Baseline Survey report. #FinHealthPulse bit.ly/2P2SiHU
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Think high home prices don't affect us all? Think again. Great post from my colleagues at .
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does a great job telling 's story through the lens of their 40th anniversary celebration. CEI was an early investor in and Kelly Brewer, Tilson's engineering and implementation director, is quoted in the article
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Housing finance policy debate enters its final day with the question: what does the future hold for access to affordable, quality housing, with or without legislation? urbn.is/2pfAYjM
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How should the federal government support housing—both homeownership & rental—for those the market will not? , , , , , , & experts from , , & weigh in: urbn.is/2GqpZLT
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The US is falling behind on #homeownership globally.
1990: 10th out of 18 countries;
2015: 13th.
Only 5/18 countries (Ireland, Bulgaria, Mexico, UK & US ) lowered rates 1990 - 2015.
2015 avg. rate for the 18 countries = 69.6;
US = 63.7.
urbn.is/2tGf7GR
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My thoughts: 2 goals of current system are inconsistent: Giving all credit worthy borrowers access & bringing competitive private capital to bear most of the credit risk. Pricing for credit risk will price some worthy borrowers out. urbn.is/2HvzWH2
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Want to know why there's a federal role in housing finance? Learn from experts with multiple perspectives in new Policy Debate
urban.org/debates/revisi
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Congratulations Team Diaries! So well deserved. @JMorduch @RachelSchneider @financialaccess @CFSInnovation @Citi @FordFoundation @OmidyarNetwork twitter.com/JMorduch/statu
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What's the role of Community Development Financial Institutions (CDFIs) in meeting the needs of communities across the country--and how can they best do it? See the ongoing Policy Debate for answers--or at least opinions! urban.org/debates/meetin
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Seems like the Coast Guard is doing a better job than the other services at promoting financial health! What does the Coast Guard know about the GI Bill that the other services do not? -- consumerfinance.gov/about-us/blog/ via
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A very good slide deck on the GOP tax bill what's wrong with it (lots), what would be better. piie.com/system/files/d
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