Comment Detail

Comment

July 10, 2017

RE FAU Comment on Proposed Fannie Mae and Freddie Mac Underserved Markets Plans

To Whom it May Concern:

All communities need teachers, firefighters, police officers, garbage collectors, municipal employees, sewer plant operators, health care workers, water works staff, contractors, landscapers, and retail salespersons, to list just a few essential service workers. Unfortunately, many communities fail to ensure that such workers have safe, affordable housing opportunities within a reasonable distance from their work. We are dealing with this issue across the nation.

We are American Citizens who are People of African Descent and our allies in a national organization called the Friends of the African Union. We are focused on the people of the United States who qualify as members of the African diaspora as per actions in 2005 of the African Union Assembly when it defined the African Diaspora as “… peoples of African descent and heritage living outside the continent, irrespective of their citizenship, and who remain committed to contribute to the development of the continent and the building of the African Union.”.

Friends of the African Union (FAU) through its Chamber of Commerce (FAUchamber) is a member of the National Community Reinvestment Coalition (NCRC). FAU and FAUchamber appreciates the opportunity to comment on Fannie Mae and Freddie Mac’s draft underserved markets plans based on the work done by NCRC (Pages 2-23). We believe that the plans, if developed carefully and implemented rigorously, could substantially increase access to credit for rural, lower income, and overlooked populations such as People of African Descent. While the Government Sponsored Enterprises (GSEs) present some innovative ideas and plans, FAU believes that the plans could be improved upon and targeted more effectively to regions and populations with pressing needs through public private partnerships.

FAU is a coalition of community based chapters dedicated to increasing access to credit and capital to American Citizens who are People of African Descent. Our members include those working in rural areas and underserved communities that are the focus of the Duty-to-Serve (DTS) initiative. We will continue to look for ways for our members to engage the GSEs through public Private Partnerships as they refine and implement their plans.

We will use the data in the NCRC generated document in our unsolicited proposal to the GSE’s to develop Affordable Housing Solutions, in Ohio first, based the Fifth Third Bank and other NCRC driven Bank based Community Benefit Agreements through public private partnerships.

Hershel Daniels Junior
Chairman, Friends of the African Union