Sec. 311. Findings
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The Congress finds the following: Housing is the largest portion of most household budgets in the United States and therefore a foundational component of financial access and opportunity. Due in part to a legacy of discrimination in the United States, people of color are disproportionately experiencing homelessness, are disproportionately renting, and disproportionately paying unaffordable rents, which acts as a barrier to homeownership. Access to fair and affordable housing, both rental and homeownership opportunities, is critical to upward economic mobility.
This includes addressing language barriers in mortgage servicing to ensure borrowers have culturally sensitive, in-language access to critical lending information, can enter into fair and sustainable homeownership, and preserve their home equity.