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ICBA submitted comments to the Federal Housing Finance Agency on 2024 updates to the Enterprises Equitable Housing Finance Plans, including a new proposal that seeks to define and benefit first-generation homebuyers.
ICBA supports efforts to serve this group of borrowers, but it emphasized in its comments that policymakers should appropriately define what it means to be a first-generation homebuyer and that there needs to be clear and frictionless operational processes that allow lenders to effectively serve and reach these borrowers.