Economy
State Housing Finance Agencies Assist Homebuyers, Renters
WASHINGTON INFORMER — Every state in the U.S., as well as in Puerto Rico and the U.S. Virgin Islands, has a Housing Finance Agency (HFA) that provides low- and moderate-income individuals and families with the opportunity to find a home or apartment that meets their budget and quality-of-life needs.
By Christopher G. Cox
Every state in the U.S., as well as in Puerto Rico and the U.S. Virgin Islands, has a Housing Finance Agency (HFA) that provides low- and moderate-income individuals and families with the opportunity to find a home or apartment that meets their budget and quality-of-life needs.
According to Stockton Williams, executive director of the National Council of State Housing Agencies (NCSHA), in 2017 alone, state HFAs provided $28 billion to finance affordable homeownership for more than 152,000 households, 26 percent of which were minority-headed households.
The NCSHA was created by the state agencies more than 40 years ago, Williams said, to help share best practices.
“HFAs are constantly learning from each other,” Williams adds, “not only sharing best practices, but solving emerging challenges on a collaborative basis. NCSHA facilitates these exchanges and augments them with additional analysis and support.”
Some of the state HFA practices that NCSHA helps to promote are careful underwriting of borrowers, close oversight of lenders, proactive loan servicing and counseling assistance to borrowers who need it, Williams noted.
“A 2018 study found that state HFA loans were much less likely to experience defaults or foreclosures than loans from other sources to similar borrowers,” he said. “According to the study, not only are HFAs more likely to require full documentation and careful underwriting, they also serve as a third-party monitor on lenders originating loans through a state program, creating an additional incentive for careful screening by the lender.”
Like other state housing finance agencies, the North Carolina HFA (NCFHA), which began operating in 1973, serves the broad mandate of providing affordable housing opportunities for state residents whose needs are not being met by the market, explains Connie Helmlinger, manager of public relations and marketing for the NCHFA.
The work of her agency, Helmlinger notes, is divided into two main areas: providing assistance with home ownership and with rental housing.
“We have helped more than 115,000 individuals and families purchase homes,” she said. “We do that by offering mortgages with competitive rates and down payment assistance for buyers.”
The NCHFA offers a variety of assistance programs that seek to help low- and moderate-income homebuyers in such categories as first-time buyers, military veterans, senior citizens and people with disabilities. Detailed information about such programs as NC Home Advantage Mortgage, NC Home Advantage Tax Credit and NC IST Home Advantage, and how potential buyers can qualify for them, can be found at www.ncfha.com
Most of NCFHA’s work is done in association with partners, including local governments, nonprofit organizations and private developers. “One of our self-help programs,” Helmlinger says, “is working with Habitat for Humanity. They take the money we provide and roll that into their own money to provide better mortgages for people who buy their homes.”
Helmlinger notes that the NCHFA does not work directly with buyers — except for being involved in final approvals and underwriting — but works directly with lenders after buyers have contacted a loan officer about applying for one of their assistance programs.
“The money is coming from us, but it’s the lender that is managing the whole process,” Helmlinger said.
This article originally appeared in the Washington Informer.
Business
Special Interview: Rep. Barbara Lee Discusses Kamala Harris’ Plan for Black Men
On Oct. 16, California Black Media (CBM) spoke with Harris-Walz campaign surrogate, Congresswoman Barbara Lee (D-CA-12), who shared more insights on Harris’ agenda and the importance of securing the Black Male vote. “She has said very clearly that she wants to earn the vote of everyone. And that means earning the vote of Black men,” said Lee of Harris. “She understands the systemic and historic challenges that Black men have. You haven’ t heard of a presidential candidate coming up with a concrete actual plan and policy agenda.” The agenda includes five focus areas based on insights she gleaned from hosting discussions with Black men during her Economic Opportunity Tour.
By Edward Henderson, California Black Media
Last week, the Kamala Harris campaign released its Opportunity Agenda for Black Men.
On Oct. 16, California Black Media (CBM) spoke with Harris-Walz campaign surrogate, Congresswoman Barbara Lee (D-CA-12), who shared more insights on Harris’ agenda and the importance of securing the Black Male vote.
“She has said very clearly that she wants to earn the vote of everyone. And that means earning the vote of Black men,” said Lee of Harris. “She understands the systemic and historic challenges that Black men have. You haven’ t heard of a presidential candidate coming up with a concrete actual plan and policy agenda.”
The agenda includes five focus areas based on insights she gleaned from hosting discussions with Black men during her Economic Opportunity Tour:
- Provide 1 million loans that are fully forgivable to Black entrepreneurs and others disadvantaged groups to start businesses.
- Champion education, training, and mentorship programs that help Black men get good-paying jobs in high-demand industries It will also develop more accessible pathways for Black men to become teachers.
- Support a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected.
- Launch a National Health Equity Initiative focused on Black men that addresses sickle cell disease, diabetes, mental health, prostate cancer, and other health challenges that disproportionately impact them.
- Legalize recreational marijuana and creating opportunities for Black Americans to succeed in this new industry.
“[Vice President Harris] knows that Black men have long felt that too often their voice in our political process has gone unheard and that there is so much untapped ambition and leadership within the Black male community,” the language in the agenda states. “Black men and boys deserve a president who will provide the opportunity to unleash this talent and potential by removing historic barriers to wealth creation, education, employment, earnings, health, and improving the criminal justice system.”
Diving into Harris’ agenda, Lee says, reminded her of her own record of supporting Black men over the years as an elected official. In the 90’s, she established the first California Commission on African American Males through which she pressured the state to address urgent economic, health and social challenges specific to Black men.
“No group of people are a monolithic group of people,” said Lee She’ s not taking any vote for granted. I’ve known her over three decades and I believe she is being herself. She’ s authentic,” Lee added.
Each of the 5 key points addressed in the Harris Campaign’s agenda, Lee says, has additional clauses that can potentially help Black men and their families thrive. This includes lowering rent; up to $25,000 in downpayment help for first time homebuyers; and cutting taxes for Black men in lower-wage jobs by increasing the Earned Income Tax Credit maximum to $1,500.
“I think the messages is one of empowerment for Black men — regardless of whether they’ re a blue-collar worker, if they’ re not working, if they’ re in business, if they’ re an entrepreneur, whatever background or whatever they’re doing or experiencing life. I think the authenticity of their experience can only be articulated through them,” said Lee.
Activism
Oakland’s Asian Community Rallies Against Recall of Mayor Sheng Thao
Thao was speaking at a rally Oct. 15 in Oakland Chinatown, backed by about 100 supporters. “Oakland has seen unprecedented challenges during and since the pandemic, Thao said. “But I stand with you today to tell you that “Oakland has seen 14,000 less crimes this year than last year. This year, we’re headed on the right track,” with fewer homicides than in 2019. “We are saving lives in Oakland. What we are doing work,” she said.
“We’re saving lives in Oakland. What we are doing works,” said Mayor Thao
By Ken Epstein
Self-assured and defiant, Mayor Sheng Thao strongly defended her achievements during her first two years as mayor and went on the offensive against billionaires who are funding the recall campaign against her.
Thao was speaking at a rally Oct. 15 in Oakland Chinatown, backed by about 100 supporters.
“Oakland has seen unprecedented challenges during and since the pandemic, Thao said. “But I stand with you today to tell you that “Oakland has seen 14,000 less crimes this year than last year. This year, we’re headed on the right track,” with fewer homicides than in 2019. “We are saving lives in Oakland. What we are doing work,” she said.
Local community and business leaders supporting Thao spoke at the rally, too, which was held in the courtyard of the Pacific Renaissance Plaza in Chinatown. They pushed back on corporate media portrayals of Chinatown residents living in fear of rampant crime and united in opposition to Thao.
“The billionaires, the millionaires, are going to want to tell you that it’s not working and that somehow you shouldn’t believe the data,” Thao continued. “(However) the data shows that we are saving lives. That is a huge win. It’s not good enough. But it’s a place where we’re proud to start from.”
“You know who is behind this recall. It is majority funded by one executive (of a) hedge fund who doesn’t even live in Oakland. He does not care if this brings Oakland into chaos, because that’s exactly what his recall will do. Imagine a city with no leadership (for many months),” added Thao.
Another speaker, Stewart Chen, owner of a small business in Chinatown and a prominent political leader, has taken a strong stand against the recall.
“Mayor Thao (was) in office for less than two months before the recall started. I think it’s unfair. She hasn’t had time to prove her policies and her leadership,” Chen said.
“(Only) two months. That is not democratic. She campaigned hard and was duly elected, -justly, legally, democratically,” he said.
“The Chinatown community, we’re all here, (because) we want to see Mayor Thao (here) for the next two years” to complete her term, Chen said.
Other speakers included Kenneth Tang, organizing director of Asian Pacific Environmental Network (APEN) Action – who said he and other APEN Action members came to the rally because, “We support Mayor Thao.”
Elaine Peng, president of Asian Americans for Progressive Alameda, (AAPA) brought out people to the rally. Her organization is also actively working to elect U.S. Vice President Kamala Harris.
Mariano Contreras of the Latino Task Force and a leader of the “Respect Our Vote – No Recalls!” coalition, said, “There was a time when African Americans could not vote. There was a time when Asians could not vote. There was a time when Latinos could not vote. That was called voter suppression. This is another form of voter suppression. We already cast our ballot for Mayor Sheng Thao. Please, vote ‘no’ on the recall.”
Activism
Oakland’s Clergy Leaders Say ‘No’ Vote to Recall of Mayor Sheng Thao
“The recall of the mayor is not needed and ill-founded. Oakland does not need chaos. Oakland does not need coal dust in the air,” said Pastor Jim Hopkins of Lake Shore Avenue Baptist Church. The pastor was referring to recall funder and hedge fund partner Phillip Dreyfuss, whose company has several billions of dollars invested in the coal industry at a time when Oakland is resisting the construction of a coal export terminal in the city.
By Post Staff
Local faith leaders spoke out at a press conference this week at the Democratic Party Election Headquarters office in Oakland to express their support for Mayor Sheng Thao.
They also urged Oakland residents to vote “No” on the recall on the Nov. 5 ballot.
The leaders in this interfaith coalition, representing the diversity of Oakland’s religious community, organized the press conference on Oct. 22 to show they are standing united against the recall. Speakers said they were concerned that a successful recall would throw the city and its finances into chaos.
If the recall were successful, the city would have five mayors in three years, creating dysfunction at a time the city desperately needs stable leadership to focus on its budget and continue to make progress on public safety, the leaders emphasized.
“The recall of the mayor is not needed and ill-founded. Oakland does not need chaos. Oakland does not need coal dust in the air,” said Pastor Jim Hopkins of Lake Shore Avenue Baptist Church.
The pastor was referring to recall funder and hedge fund partner Phillip Dreyfuss, whose company has several billions of dollars invested in the coal industry at a time when Oakland is resisting the construction of a coal export terminal in the city.
“I love Oakland, and we need to get behind our leadership. I’m excited we have a mayor who is concerned about the people of Oakland,” said Bishop Greg Payton of St. John’s Missionary Baptist Church in West Oakland.
Said Pastor Joe Smith of Good Hope Baptist Church in East Oakland, “Our homicides are down. Police force not fully staffed. She has the rate down. Black and Brown boys not getting killed. Mayor Thao has done this. United we stand, divided we fall. I’m here to say ‘No’ on the recall. I don’t believe in recalls. We have a good Mayor. Let’s stand with her.”
Speaking at the press conference, Mayor Sheng Thao said she has taken major steps to increase public safety, significantly reducing crime in the city. In addition, Thao added. “In less than two years, I’ve already invested in West Oakland, and in Deep East Oakland, (and) new investments are set to bring billions to the city,” Mayor Thao said
Many community organizations and leaders have stood with the mayor since the “No on the Recall” campaign launched on Oct. 6.
Those opposing the recall include the Alameda County Democratic Party, Rep Barbara Lee (D-CA-12), Sen. Nancy Skinner (D-Berkeley), Alameda County Supervisor Keith Carson, former Assemblymember Sandré Swanson, Oakland City Councilmember Carroll Fife, Oakland City Councilmember Dan Kalb, and 12 of the 16 candidates running for Oakland City Council.
In addition, a range of unions and political organizations have taken a stand against the recall effort, including the Alameda Labor Council, SEIU 1021, IFPTE Local 21, Alameda County Fire Fighters, NorCal Carpenters Union, as well as Oakland Rising Action, APEN (Asian Pacific Environmental Network), John George Democratic Club, Wellstone Democratic Club, the Latino Task Force, and others.
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