Federal Programs to Advance Homeownership Opportunity to Narrow Racial Disparities on May 17 will feature two virtual panels discussing current federal efforts to advance racial equity in homeownership and ways to leverage these new and emerging programs. They include the equity plans by the Federal Housing Finance Agency (FHFA), the interagency Action Plan to Advance Property Appraisal and Valuation Equity, new home renovation products, and underwriting innovations from government-sponsored enterprises. Special purpose credit programs, and other innovative strategies for reshaping housing market access will also be discussed.
For many Americans, homeownership is an effective tool for building household — and generational — wealth. Yet not all Americans have shared in this prosperity. Historical and systemic barriers to homeownership have long stood in the way of households of color, resulting in significant racial disparities in homeownership and neighborhood disinvestment that persist nationwide. Further, research is emerging about how the pandemic may have exacerbated this growing homeownership gap. More innovative and strategic programs are needed to narrow the racial homeownership gap.
In a series titled Advancing Homeownership Opportunity to Narrow Racial Disparities, the Federal Reserve Bank of Philadelphia, the Urban Institute, and the Penn Institute for Urban Research will focus on envisioning more innovative strategies for expanding homeownership opportunities for households of color.
Theresa Singleton, Senior Vice President, Federal Reserve Bank of Philadelphia
Panel 1: Introduction of Federal Programs
Melody Taylor, Executive Director of the Property Appraisal and Valuation Equity Task Force,
U.S. Department of Housing and Urban Development
James Wylie, Associate Director for Fair Lending, Federal Housing Finance Agency
Simone Beaty, Senior Director, Affordable Lending, Freddie Mac
Stacey Shifman, Senior Director, Single-Family Analytics and Modeling, Fannie Mae
Laurie Goodman, Institute Fellow, Urban Institute moderator
Panel 2: How to Leverage and Enhance Federal Programs
Lisa Rice, President and Chief Executive Officer, National Fair Housing Alliance
Reza Aghamirzadeh, Executive Vice President and Head of Community Development, Citizens
Robin Wiessmann, Executive Director and CEO, Pennsylvania Housing Finance Agency
Janneke Ratcliffe, Vice President, Housing Finance Policy Center, Urban Institute
Susan Wachter, Albert Sussman Professor of Real Estate, Professor of Finance, and Codirector, Penn
Institute for Urban Research moderator