See Below for CEDAM’s Action Alert Items 

National Call-In Day 

Renters cannot wait for rent relief. Join the National Low Income Housing Coalition and advocates across the country for a National Call-In Day today, November 19 to demand that Congress immediately pass a coronavirus relief bill that includes the essential housing and homelessness resources and protections in the House-passed HEROES Act. Talking points and other resources are available in NLIHC’s toolkit.

Michigan payday expansion bill

We need your help! HB 5097 passed the House and was referred to the Senate Regulatory Reform committee on May 27. This bill would allow ​“small dollar” loans of up to $2,500 with fees of 11% monthly on the principal of the loan. The fees on a loan are equivalent to 132% APR. 

• Please contact committee members and let them know your opposition to the bills. A committee roster and contact information is available here.
• Reach out to your senator and let them know you oppose the bill. You can find your senator here, and contact information for all senators is available here.
  • CEDAM has put together talking points about HB 5097 to assist you in conversations with your senator
  • Read about how payday lending targets vulnerable Michigan Communities in this Center for Responsible Lending report
• Sign on to the Michigan Coalition for Responsible Lending opposition letter. The sign-on form can be found here. 

Reinstate the Michigan historic tax credit 

SB 54, the bill to reinstate the state historic preservation tax credit, should go before the Senate Economic and Small Business Development committee when it meets at the beginning of December.

Contact your Senator by phone or email with a letter of support.

If passed by the Committee, SB 54 will move quickly to the Senate Floor, possibly even the same day. For this reason, contacting your senator TODAY is extremely important. You can find talking points here and a sample letter here.

Policy News

Federal Housing Finance Agency (FHFA) extension

FHFA announced on November 13 that Fannie Mae and Freddie Mac will extend several loan origination flexibilities until December 31, 2020.  The flexibilities were set to expire on November 30, 2020. Extended flexibilities include:

• Alternative appraisals on purchase and rate term refinance loans;
• Alternative methods for documenting income and verifying employment before loan closing; and
• Expanding the use of power of attorney to assist with loan closings. 

More information is available here. 

Federal budget

The Senate Appropriations Committee released all 12 of its spending bills for fiscal year (FY) 2021 on November 10. The THUD bill includes modest increases in funding for affordable housing programs, despite strict budget caps required by the Budget Control Act. For more details on the bill’s provisions, read NLIHC’s full analysis of the bill and view their updated budget chart.  

Resources for homeowners

The Consumer Financial Protection Bureau (CFPB) has developed materials to help homeowners protect their homes and avoid foreclosure. This includes materials that can be distributed to community organizations and clients. You can find the information and materials on the CFPB website.