Housing Counseling & the CFPB

Washington, DC - In July 2010, Congress passed and President Obama signed the Dodd-­Frank Wall Street Reform and Consumer Protection Act. The Act created the Consumer Financial Protection Bureau (CFPB), the nation’s first federal agency whose sole focus is protecting consumers in the financial marketplace.

Since the Bureau opened its doors, it has concentrated on making consumer financial markets work better for the American people, and helping people improve their financial lives.

Preserving the Dream of Homeownership

Washington, DC – Started as ‘National Homeownership Day’ under President Bill Clinton on June 5, 1995, within two years the week of June 5th became ‘National Homeownership Week.’ By 2002 under President George W. Bush, the week evolved into ‘National Homeownership Month,’ a time to raise awareness about homeownership and to celebrate families, communities, and the economic prosperity homeownership often brings.

1.3 Managing Assets

Module Summary
As clients learn how to manage money, they will need guidance from housing counselors to recognize their options for safeguarding and building their assets. In this module, you’ll learn about different types of accounts and account features at financial institutions, such as banks or credit unions. Next, you’ll learn to emphasize the importance of short-term savings and retirement savings. Last, you’ll learn to identify opportunities for clients to take advantage of opportunities to increase income through income tax credits.

3.1 History and Overview

Module Summary It is important for housing counselors to understand the basics of fair housing and know what is protected by the Fair Housing Act, or FHA, in order to inform and empower clients effectively. In this module, you’ll learn about the history of housing discrimination, key provisions of the FHA, and basic terms and concepts necessary for identifying potential violations of fair housing law.

Learning Objectives By the end of this module, counselor will be able to:

6.1 Obtaining and Maintaining Tenancy

Module Summary Whether clients seek counseling to transition away from homelessness or to prepare to purchase a home in the future, housing counselors can assist them in securing affordable rental housing. In this module, you’ll learn about concepts associated with the execution and termination of a lease agreement, the responsibilities of tenants and landlords regarding property maintenance, and steps to resolve disputes between landlords and tenants. You’ll also learn about renters insurance.

6.2 Eviction

Module Summary Due to any number of financial hardships, clients may face the unfortunate prospect of eviction. In this module, you’ll learn about the rental eviction process and steps clients can take to avoid eviction. You’ll also learn about options for alternative housing, such as emergency shelters or transitional housing, if moving becomes necessary.

Learning Objectives By the end of this module, counselor will be able to:

2.2 Affordable Housing Options

Module Summary
Once clients have a better understanding of their financial ability to afford housing, housing counselors can provide additional information to help them make an informed decision about their housing options. In this module, you’ll learn about different types of mortgages and related costs, including mortgage insurance. You’ll also learn to identify funds available to potential homebuyers for down payment assistance, as well as sources of rental assistance and other resources available to future tenants.

5.3 Disposition Options

Module Summary If clients decide to leave or are unable to maintain their homes, housing counselors can help by providing options and resources. In this module, you’ll learn about the costs and consequences of disposition options such as foreclosure, short sale, and deed-in-lieu. You’ll also learn about the steps involved in transitioning away from the home, through foreclosure or other methods, and programs that can assist in the process.

Learning Objectives
By the end of this module, counselor will be able to:

3.2 Violations and Complaints

Module Summary Housing counselors have a responsibility to understand the Fair Housing Act, to be able to recognize signs and evidence of potential housing discrimination, and to promote client awareness about fair housing requirements. It is necessary for housing counselors to be able to give clients information on how to file a fair housing complaint through HUD or through state and local programs that handle such complaints.

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