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NAFCU Caucus attendees yesterday heard from Department of Housing and Urban Development (HUD) Deputy Secretary Adrianne Todman on the importance of cultivating access to homeownership for all. 

During her opening remarks, Todman noted the importance of credit unions continuing to meet the financial needs for many members and expressed HUD’s strong support for the credit union industry. “Credit unions play a critical role in expanding financial security for the American people,” said Todman.

“Homeownership remains a cornerstone of building wealth that can be passed down to generations, yet the stark reality is that for too many, the dream of homeownership remains too difficult to realize and to maintain,” stated Todman. She shared HUD’s two-pronged approach on homeownership; helping families stay in their home and helping others unlock homeownership opportunities. 

Regarding policies to help close the homeownership gap, especially during the economic recovery, Todman mentioned HUD “is determined to help Americans with student loans to realize their dream of homeownership.” HUD earlier this year announced a policy to remove barriers for borrowers with student debt to qualify for federally guaranteed home mortgages.

Todman also discussed the unfairness of nationwide appraisal discrimination, specifically for people of color and people in underserved communities, and mentioned President Biden’s recently announced Property Appraisal and Valuation Equity (PAVE) task force charged with addressing this issue. 

Closing out her remarks, Todman noted how the Build Back Better agenda would increase affordable housing across the country and called on credit union leaders to help shape a “more equitable America.”

The third and final day of Caucus kicks off today, both in-person and virtually; view the agenda here.

Follow along on Twitter with #NAFCUCaucus for live event updates.