Tag Archive for: border colonias

Policy News field

HAC Submits Comments on Colonia Census Tract Definition

HAC submitted comments in response to the October 5, 2022 Notice of Proposed Rulemaking (NPRM) on the Enterprise Duty to Serve Underserved Markets Amendments published by the Federal Housing Finance Agency (FHFA). HAC has conducted significant research on housing finance, including numerous aspects of Fannie Mae’s and Freddie Mac’s statutory Duty to Serve Underserved Markets. The regulatory change under consideration, in fact, is based on HAC research for Fannie Mae. Thus HAC is well positioned to comment on this proposal.

HAC generally supports FHFA’s proposed definition and use of “colonia census tracts” to target efforts by Fannie Mae and Freddie Mac (the Enterprises) to meet the credit needs of these high-poverty rural areas. As the NPRM explains, the colonia census tract model is based on Colonias Investment Areas, a concept developed by HAC for use by Fannie Mae in meeting its Duty to Serve the colonias. HAC’s research makes clear that using census tracts containing colonias as a basis for identifying and evaluating colonias activities would not only provide clarity, but would also meet the goals of the Duty to Serve statute and regulations.

Key Takeaways

  1. Census tracts are the best available geography for a revised colonia definition, as HAC’s research has demonstrated, and HAC supports FHFA’s proposal to base its definition on tracts.
  2. Focusing activities in the places FHFA identifies as colonias census tracts would meet the goals of the Duty to Serve requirement.
  3. Alternative definitions have proven to be too broad or too difficult to use.
  4. HAC recommends providing greater weight to Duty to Serve activities in colonia census tracts in rural areas than to those in urban or suburban places, because rural tracts have greater needs.
  5. The colonias census tract database should be updated more often than every ten years if interim changes warrant.

To learn more about HAC’s full recommendations, read our full comment letter.

HAC Final Comments on the Colonias Definition

Colonias Investment Area – Texas

Materials Posted

Recording

The Housing Assistance Council, in partnership with Fannie Mae, present data and research on Colonias Investment Areas, with a special focus on the state of Texas.

The geographic concept of Colonias Investment Areas was developed to more efficiently target strategies and opportunities for mortgage finance and resource investment in Colonia communities along the Southwest Border. The discussion will elaborate on Texas communities that contain Colonia settlements and describe their demographic characteristics and mortgage lending activity. We invite you to participate in a discussion of the data, research, and geography behind Colonia Investment Areas, and seek your input and advice on the topic.

Sponsored by Fannie Mae
Fannie Mae is a leader in providing housing finance for homebuyers and renters in the United States. Fannie Mae serves the people who house America. Together with their partners, they make sure that homeowners, homebuyers, and renters across the country have access to affordable financing opportunities.

Colonias Investment Area – New Mexico

Materials Posted

Recording

The Housing Assistance Council, in partnership with Fannie Mae, present data and research on Colonias Investment Areas, with a special focus on the state of New Mexico.

The geographic concept of Colonias Investment Areas was developed to more efficiently target strategies and opportunities for mortgage finance and resource investment in Colonia communities along the Southwest Border. The discussion will elaborate New Mexico communities that contain Colonia settlements and describe their demographic characteristics and mortgage lending activity. We invite you to participate in a discussion of the data, research, and geography behind Colonia Investment Areas, and seek your input and advice on the topic.

Sponsored by Fannie Mae
Fannie Mae is a leader in providing housing finance for homebuyers and renters in the United States. Fannie Mae serves the people who house America. Together with their partners, they make sure that homeowners, homebuyers, and renters across the country have access to affordable financing opportunities.

Colonias Investment Area – Arizona

Materials Posted

Recording

The Housing Assistance Council, in partnership with Fannie Mae, present data and research on Colonias Investment Areas, with a special focus on the state of Arizona.

The geographic concept of Colonias Investment Areas was developed to more efficiently target strategies and opportunities for mortgage finance and resource investment in Colonia communities along the Southwest Border. The discussion will elaborate on Arizona communities that contain Colonia settlements and describe their demographic characteristics and mortgage lending activity. We invite you to participate in a discussion of the data, research, and geography behind Colonia Investment Areas, and seek your input and advice on the topic.

Sponsored by Fannie Mae
Fannie Mae is a leader in providing housing finance for homebuyers and renters in the United States. Fannie Mae serves the people who house America. Together with their partners, they make sure that homeowners, homebuyers, and renters across the country have access to affordable financing opportunities.

From Food to Housing: Sacrificing Quality for Quantity in the Colonias

From Food to Housing: Sacrificing Quality for Quantity in the Colonias

In November, theWashington Postpublished an article entitled“Too Much of Too Little”about recipients of the Supplemental Nutrition Assistance Program, formerly known as food stamps, in Hidalgo County, Texas, one of the fastest growing and poorest places in the nation. The article highlighted families who are forced to choose between affordable yet unhealthy foods that keep their families fed throughout the month or healthy options that are less affordable and may not feed a family for as long. Low-income Americans dependent upon SNAP are often forced to shop “quantity over quality” in order to stretch paltry food budgets throughout the month. As a result, more and more people who do not have enough food to eat are facing obesity and diabetes at alarming rates.

Read the complete Blog post at Rooflines

Tag Archive for: border colonias

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Tag Archive for: border colonias

Policy News field

HAC Submits Comments on Colonia Census Tract Definition

HAC submitted comments in response to the October 5, 2022 Notice of Proposed Rulemaking (NPRM) on the Enterprise Duty to Serve Underserved Markets Amendments published by the Federal Housing Finance Agency (FHFA). HAC has conducted significant research on housing finance, including numerous aspects of Fannie Mae’s and Freddie Mac’s statutory Duty to Serve Underserved Markets. The regulatory change under consideration, in fact, is based on HAC research for Fannie Mae. Thus HAC is well positioned to comment on this proposal.

HAC generally supports FHFA’s proposed definition and use of “colonia census tracts” to target efforts by Fannie Mae and Freddie Mac (the Enterprises) to meet the credit needs of these high-poverty rural areas. As the NPRM explains, the colonia census tract model is based on Colonias Investment Areas, a concept developed by HAC for use by Fannie Mae in meeting its Duty to Serve the colonias. HAC’s research makes clear that using census tracts containing colonias as a basis for identifying and evaluating colonias activities would not only provide clarity, but would also meet the goals of the Duty to Serve statute and regulations.

Key Takeaways

  1. Census tracts are the best available geography for a revised colonia definition, as HAC’s research has demonstrated, and HAC supports FHFA’s proposal to base its definition on tracts.
  2. Focusing activities in the places FHFA identifies as colonias census tracts would meet the goals of the Duty to Serve requirement.
  3. Alternative definitions have proven to be too broad or too difficult to use.
  4. HAC recommends providing greater weight to Duty to Serve activities in colonia census tracts in rural areas than to those in urban or suburban places, because rural tracts have greater needs.
  5. The colonias census tract database should be updated more often than every ten years if interim changes warrant.

To learn more about HAC’s full recommendations, read our full comment letter.

HAC Final Comments on the Colonias Definition

Colonias Investment Area – Texas

Materials Posted

Recording

The Housing Assistance Council, in partnership with Fannie Mae, present data and research on Colonias Investment Areas, with a special focus on the state of Texas.

The geographic concept of Colonias Investment Areas was developed to more efficiently target strategies and opportunities for mortgage finance and resource investment in Colonia communities along the Southwest Border. The discussion will elaborate on Texas communities that contain Colonia settlements and describe their demographic characteristics and mortgage lending activity. We invite you to participate in a discussion of the data, research, and geography behind Colonia Investment Areas, and seek your input and advice on the topic.

Sponsored by Fannie Mae
Fannie Mae is a leader in providing housing finance for homebuyers and renters in the United States. Fannie Mae serves the people who house America. Together with their partners, they make sure that homeowners, homebuyers, and renters across the country have access to affordable financing opportunities.

Colonias Investment Area – New Mexico

Materials Posted

Recording

The Housing Assistance Council, in partnership with Fannie Mae, present data and research on Colonias Investment Areas, with a special focus on the state of New Mexico.

The geographic concept of Colonias Investment Areas was developed to more efficiently target strategies and opportunities for mortgage finance and resource investment in Colonia communities along the Southwest Border. The discussion will elaborate New Mexico communities that contain Colonia settlements and describe their demographic characteristics and mortgage lending activity. We invite you to participate in a discussion of the data, research, and geography behind Colonia Investment Areas, and seek your input and advice on the topic.

Sponsored by Fannie Mae
Fannie Mae is a leader in providing housing finance for homebuyers and renters in the United States. Fannie Mae serves the people who house America. Together with their partners, they make sure that homeowners, homebuyers, and renters across the country have access to affordable financing opportunities.

Colonias Investment Area – Arizona

Materials Posted

Recording

The Housing Assistance Council, in partnership with Fannie Mae, present data and research on Colonias Investment Areas, with a special focus on the state of Arizona.

The geographic concept of Colonias Investment Areas was developed to more efficiently target strategies and opportunities for mortgage finance and resource investment in Colonia communities along the Southwest Border. The discussion will elaborate on Arizona communities that contain Colonia settlements and describe their demographic characteristics and mortgage lending activity. We invite you to participate in a discussion of the data, research, and geography behind Colonia Investment Areas, and seek your input and advice on the topic.

Sponsored by Fannie Mae
Fannie Mae is a leader in providing housing finance for homebuyers and renters in the United States. Fannie Mae serves the people who house America. Together with their partners, they make sure that homeowners, homebuyers, and renters across the country have access to affordable financing opportunities.

From Food to Housing: Sacrificing Quality for Quantity in the Colonias

From Food to Housing: Sacrificing Quality for Quantity in the Colonias

In November, theWashington Postpublished an article entitled“Too Much of Too Little”about recipients of the Supplemental Nutrition Assistance Program, formerly known as food stamps, in Hidalgo County, Texas, one of the fastest growing and poorest places in the nation. The article highlighted families who are forced to choose between affordable yet unhealthy foods that keep their families fed throughout the month or healthy options that are less affordable and may not feed a family for as long. Low-income Americans dependent upon SNAP are often forced to shop “quantity over quality” in order to stretch paltry food budgets throughout the month. As a result, more and more people who do not have enough food to eat are facing obesity and diabetes at alarming rates.

Read the complete Blog post at Rooflines