WASHINGTON, Jan. 9, 2015 /PRNewswire-USNewswire/ -- Wade Henderson, president and CEO of The Leadership Conference on Civil and Human Rights, and Milton Rosado, national president of the Labor Council for Latin American Advancement, today issued a joint statement in reaction to President Barack Obama's speech on housing in Phoenix, Ariz. The President spoke on the issue of housing in the United States including the foreclosure crisis and the credit crunch that has pushed lower- and middle-income families out of the mortgage market.
"We are pleased that President Obama continues to focus the efforts of his administration on the crucial issue of housing. In the aftermath of the recession, our organizations have advocated tirelessly for principal reduction and other measures to help people keep their homes, because of the disproportionate impact of foreclosure on Black and Hispanic families. Now, as our economy rebuilds, it is clear that restoring homeownership as an option for new families and families of color will be vital. This announcement is another positive step that we applaud, but additional and prompt action is needed. One key will be resolving the future of Fannie Mae and Freddie Mac. We hope the President will consider beginning to wind down the conservatorship, while establishing new oversight and safeguards, so that those bodies can resume their mission to provide mortgage options for millions of credit worthy families."
SOURCE The Leadership Conference on Civil and Human Rights; Labor Council for Latin American Advancement