Data Disaggregation
Photo by Asian Pacific Environmental Network
National CAPACD successfully advocated for the Consumer Financial Protection Bureau (CFPB) to include in its Home Mortgage Disclosure Act (HMDA) rule the collection of disaggregated data in AAPI categories. This significant step strengthens our ability to collect specific data and establish a more nuanced understanding of mortgage lending and loan performance patterns across different AAPI communities. This data is critical to communities across the country as they navigate the complicated process of making the largest investment of their lives, and will help advocates better identify predatory lending practices that target communities of color, seniors, and those with limited English proficiency.
To view the Home Mortgage Disclosure Act (HMDA) rule, click here.
To view National CAPACD's public comment, click here.
Language Access
Low-income AAPIs face a lack of quality, affordable housing in our communities and a significant homeownership gap. Homeownership rates of AAPIs continue to lag behind the national average of 66.2 percent. Language is a significant barrier to seeking homeownership in many communities. In 2014, approximately 25.3 million individuals, roughly 9 percent of the U.S. population, were considered limited English proficient (LEP). Despite this sizable need and opportunity, the language needs of many current and potential homeowners are left unmet in the mortgage marketplace.
To read National CAPACD and our partners' comment in response to the Federal Housing Finance Agency (FHFA)'s Request for Input to Improve Access to Credit for Qualified Mortgage Borrowers with Limited English Proficiency, click here.
To read National CAPACD and our partners' comment in response to the Federal Housing Finance Agency (FHFA)’s Request for Input (RFI) on Improving Language Access in Mortgage Lending and Servicing, click here.
To read National CAPACD and AAAJ's letter to the Consumer Financial Protection Bureau regarding its proposed Language Access Plan, click here.