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Amidst Racial Unrest, NAREB President Calls For Action

Navi Persaud
Jun 03, 2020
Black couple outside of their home. Credit: iStock.com/Peopleimages

Protests have been held nationwide in response to the murder of George Floyd by former Minneapolis police officer Derek Chauvin. These events have sparked a response from National Association of Real Estate Brokers (NAREB) President Donnell Williams. The association issued a Call to Action to help eliminate the barriers that obstruct an increase in black homeownership. 
 
NAREB's Call to Action includes:
 
►Lending discrimination and the despair fueled by racial discrimination that obstructs Black homeownership
►Passage of the Heroes Act
►All 50 states to pass and update fair housing laws
►Cities reform foreclosure prevention laws
►Eliminate zip code based insurance rates
►Eliminate credit-based auto, life and property insurance rates
►Federal Housing Finance Administration eliminate loan level rice adjustments
►More investment in Black-owned banks, CDFIs, and credit unions
►Increase Renaissance neighborhood initiatives
►More technical assistance to increase commercial real estate, property management and real estate investment.
 
"The National Association of Real Estate Brokers chooses to respond to the civil unrest within our borders from an economic perspective. The Realtist Nation firmly believes 'He who owns the land makes the law.' And to that end, we encourage voting. We encourage completing the census and we encourage the amendment of HUD Section 184 that provides low-interest mortgage loans to other minority groups but currently does not include Black Americans," according to Williams' statement. "2020 has shown us that business as usual is over and some rules were made to be broken."
 
Click here to read more on the statement.
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