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New proposed legislation looks to help ‘Dreamers’ have access to home loans

The bill comes after a BuzzFeed News report uncovered DACA recipients were being denied federally back housing loans.

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Spearheaded by U.S. Senator Bob Menendez (D-N.J.), the “Homeownership for Dreamers Act” was introduced this week, after the Department of Housing and Urban Development confirmed that DACA recipients remain ineligible to receive federal insured housing loans.

"There is no legitimate reason for the Trump Administration to deny FHA-backed mortgages to Dreamers who worked so hard to secure protected status under DACA and who continue to contribute so much to the country they call home,” said Sen. Menendez in a statement.

The proposed legislation states that the Federal Housing Administration (FHA), Fannie Mae, Freddie Mac, or the U.S. Department of Agriculture (USDA) cannot refuse to back home loans for Dreamers solely because of their immigration status.

This bill comes after a BuzzFeed News report uncovered the issue.

According to BuzzFeed, the Trump administration admitted that Dreamers were being turned down for federally-backed housing loans after Secretary of Housing and Urban Development Ben Carson denied it in congressional testimony earlier in the year.

In the report, it states that lenders and industry associations told BuzzFeed News that while the FHA has never had a specific policy that addresses DACA, they were never given advice by FHA officials not to issue the loans until President Donald Trump took office.

“It’s clear that this Administration, hamstrung by federal rulings that have prevented the mass deportation of DACA recipients, is now actively weaponizing the Department of Housing and Urban Development to carry out its bigoted anti-immigrant agenda,” said Sen. Menendez.

Also supporting this bill are Sens. Cory Booker and Catherine Cortez Masto (D-Nev.), among other Democrats.

"Discriminating against Dreamers is an affront to the values we hold dear in America. These young people, who came to the United States as kids and call this country home, should not be barred from buying a home and pursuing the American dream,” said Sen. Cory Booker in a statement.

Last week, Congressman Juan Vargas (D-Calif.) introduced a similar bill in the House of Representatives; which passed the Committee on Financial Services.

“We cannot allow mortgage lenders to continue to discriminate against Dreamers. Like any other young person contributing to our country, Dreamers deserve the opportunity to own a home,” Rep. Juan Vargas said in a statement.





 

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