ICYMI: NATIONAL ACTION NETWORK - DAY 2 HUD Secretary Marcia L. Fudge on closing the gap in homeownership

By Gloria DULAN-Wilson

National Action Network, Day 2, April 7, 2022

As always, Rev. Sharpton's National Action Network Convention presents some of the foremost experts in a variety of fields of importance and impact to the Black community.  The great thing about this year, and last year, is that it is being streamed on YouTube.   However, ICYMI, one of the most pivotal speakers was Secretary of HUD Marcia L. Fudge -  the first Black woman to head HUD (the Department of  Housing and Urban Development).

 

 

She came to the position with passion and compassion.   As one of the guest speakers, she provided information of direct impact and pivotal importance to Black families across the nation.  So, I'm excerpting from her presentation in case you missed it; or didn't hone in on some of the more salient parts of her message.

The Honorable Marcia L Fudge, Secretary of HUD indeed had some good news and innovations to share, and started off by saying: "There's money in my bank account (i.e, Budget),  and I intend to spend it all!"  To which the audience responded in a huge applause. 

Marcia Fudge, was formerly a congresswoman from Ohio; and as the first Black woman to head up HUD (Housing & Urban Development) since its inception in 1964, when it was established by president Lyndon Baines Johnson, as part of his vision for a poverty-free "Great Society," also the first to make any major changes to correct years of neglect of the principles upon which it was originally intentioned.   She pledged to do everything in her power to close the homeownership gap that currently exists among Black people and people of color.

Secretary of HUD Marcia L Fudge greeted by Rev. Al Sharpton 

She stated: "The first 17 words of the Constitution are  'We the people of the United States, in order to form a more perfect union established in justice..."  Rev. Al fights to ensure we the people are included in the establishment in justice.  He understands that while we've come a long way, we've got a long way to go. We know it's hard to be Black in America - but people need to understand it!  This is our moment!  And we must not shrink from our moment!  I grew up with a lot of older people - who used to say "The more things change, the more they stay the same."

The former Congresswoman continued, "Many of us remain trapped in poverty, poisoned by the paint on the walls, Our children are being born behind the starting lines of life, playing catch up to catch up with everyone.  This is not time for us to shrink.  We must meet this moment because THIS IS OUR MOMENT. WE WILL NOT BE DENIED EQUAL PROTECTION UNDER THE LAW.  And I'm going to do my part!"

"When I accepted the role as the 18th secretary of HUD, I knew there was a great task before me." she continued.  "We faced a number of crises.  We (HUD) still redline; don't lend to Black and brown people and poor people.  We still undervalue people's houses just because of the color of their skin. I remember what Jesus said to his disciples - 'To whom much is given, much is required.'  And I have been given much - I've always had a home  - I always had a safe place.  Everybody should have that same feeling - to feel safe at home.  I am required/obligated to help those who have been neglected and ignored for far too long.  It is my responsibility to make sure that those who want to buy a home have that opportunity. And that those who live in public housing - those who are in my care - can live safely and be treated decently, with dignity every single day.  It has been more than 50 years since the Fair Housing Act was passed.  But the gap between Black and white is bigger than before it was passed in 1968!!  Under the Biden/Harris Admin.  We are tackling the root causes of discrimination, because we know that owning a home is our greatest source of generational wealth." 

Last summer, in 2021, she headed up a Presidential task force on racial bias in home appraisals.  "You've seen the stories of how our homes are devalued or undervalued just because we live in Black communities.  If we could just close that gap, and not lose billions and billions of dollars every year because our properties are undervalued, we could make a big difference in this country.  Black properties lose billions and billions of dollars in equity because of biases in real estate appraisals - But let me tell you what! It's going to stop right now!"  (This is ironically true - as a former R.E. appraiser, I/ve seen some evidence of padding on one side, while devaluing or discounting our properties - and using a check and balance approach to justify it). According to Secretary Fudge, Black people's home are being under appraised by as much as $25,000 - which amounts to $100,000 in a four year period, causing us to lose equity and opportunity.

The great thing about having Marcia Fudge as head of HUD, is she has compassion, a mission, a vision, and understanding. Something that hasn't existed in quite some time: 

"You see, you can't give some people power, because they use it! And I'm using mine!  

I'm not afraid  to do what is right!!!

 

We're also going to make sure that people have a real shot at buying a home.  People of color, when they come to buy a home, one of the biggest impediments is student loans.  But what we've done is neutralize student debt.  IF YOU GET AN FHA INSURED LOAN, WE'RE GOING TO MAKE SURE YOU GET IT!  That's what happens when you put the right people in the right places.  I've got a fantastic group of people working with me!  These people know what they are doing!  So, we are also coming up with a new product.  Instead of dealing with a 30 year mortgage, when they get in trouble, we're going to refinance that mortgage, changing it to a 40 year mortgage.  So we can reduce your payments, reduce your interest rates!  It may take longer to pay it off,but you'll still have your home!"

A previous panelist mentioned the fact that if an individual was consistent in paying their rent on time, they should be immediately qualified for a mortgage.  Somehow that information is not considered when they are doing credit checks.  It just isn't reported, which is ridiculous!  Paying rent on time is one the biggest responsibilities a person has.  If they are paying their rent, they can pay a mortgage!!"

In sum, Secretary Fudged stated the following:

- The president's budget for 2023 is asking for down payment assistance.  We know most people of color can pay their rents.  It's the down payment that creates a problem.  So we're doing down payment assistance so we can get people in homes and put the down payment loan on the back end of the mortgage;  

- We have told banks it's okay to do special things for people who have been underserved.  We've been told it's discriminatory.  No, it's not discriminatory!  we are saying to you you can do that.

 

- We are going to have oversight of fair lending.

 

- When people come to us and say they've been discriminated against, we have a hot line on our website.  If you think you've been discriminated against, then you need to call us, because we're going to look into it!

 

- We will have oversight of fair lending and have a hotline on our website - call them!

 

- Homelessness: on any given night more than a half a million people sleep on the street - 40% are Black people, while we make up 13% of the population; and Black Seniors are the fastest growing homeless groups; and families with children."

She continued, "We can't change everything, but we're going to change a lot. I didn't get to this dance by myself!  I stand on other shoulders - like Shirley Chisholm, who was from New York. who said:  'If they don't give you a seat at the table, bring a folding chair.' And now that you are at the table, you have to make room for somebody else!  At my home we had big dinners - always made room - all you had to do was scoot over!  We have to make room to hear all of the voices - if we don't, we will fail the next generation."

Secretary Fudge remarked that she was advancing in age, and would eventually be stepping down. "I want the next generation to be prepared, so I have taken on the responsibility of helping to prepare them."  This is indeed excellent.  I wish more elected politicians and people in places of responsibility had the wisdom and insight she does.   What we don't need is a younger generation advancing to positions of power and responsibility, and being ignorant and irresponsibility as to what their roles and responsibilities are vis a vis Black people. It's those times that set us back decades, while the new appointee is still trying to figure out his role and responsibility.  (Too bad our other leaders, elected officials don't see the necessity in grooming a successor - instead they try to die in their position, and compromise the future existence of all they've worked for. Hopefully they'll follow this example).

"What we have to do is to form the kind of coalition that can stand in the moment -  

And This Is Our Moment!!!

Anybody that underestimates Black people is making a huge mistake!!!   We are a determined people who have been through a lot and we're still standing! That means getting everybody else to vote!!  Lift your voice for the right thing because things must change!"  (Yes, I enlarged that quote so that you wouldn't overlook it! )

 

We are in the midst of Midterms  MIDTERMS MATTER - we can't sit through this era, we have to take definitive action!! GDW (I said that, but it fits in with what she's saying).

She concluded: "We have to decide if we want two nations - one Black one white; one Rich one poor.  This is one America!  We have to decide if we're going to have one nation, under God.  Let's show what one nation under God looks like!  Langston Hughes writes 'I too sing America, land that I love!'  Well, I, too, sing America. I'm an American! And nobody's going to take that away from me!"  

Of course, she exited to thundering applause!

For those of you who are interested in following up on the programs Secretary Fudge mentioned in her speech, can log onto:

www.huduser.gov 

 

Make sure you follow up - don't just read this and file it away.  Use it and share it. 

 

 

 

NOW THAT YOU KNOW

WHAT ARE YOU GOING TO DO ABOUT IT?

Stay Blessed &

ECLECTICALLY BLACK 

JSYK:

I am very proud of 

Soror Marcia L. Fudge and

the wonderful work she is doing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Gloria DULAN-Wilson