| American Indians, while still falling below many | | | | do not have as broad a spectrum as the HUD |
| minorities, have several avenues open to them to | | | | loans and some of the terms may be somewhat |
| facilitate acceptance of mortgage applications. The | | | | less attractive but they are quality mortgage |
| Federal Govt. has established these agencies in | | | | loans offered at good rates. The Fannie Mae |
| response to problems American Indians may face | | | | organization is a well respected entity in the |
| when applying for a traditional mortgage. | | | | nation, providing loans and mortgage information |
| American Indians can face extraordinary | | | | to people nationwide. |
| difficulties in obtaining a traditional mortgage due | | | | Freddie Mac also has a specialty division to assist |
| to economic depression in tribal lands and unfair | | | | American Indians with attaining a home mortgage. |
| lending practices. | | | | They provide access to HUD loans and several |
| HUD provides Native American's with recourse to | | | | other programs designed to help Native |
| mortgages through the establishment of its Office | | | | Americans. This institution provides information to |
| of Native American Programs, or ONAP. ONAP | | | | help Native Americans understand the options |
| offers American Indians several options in | | | | available to them and the difference between |
| mortgage types, loan duration, interest rates and | | | | what once was and what the industry has |
| amount of down payment. HUD's ONAP can be | | | | become today. Home loans to Native Americans |
| accessed through mail, in person or through Web | | | | consistently fall behind mortgages to whites and |
| access; in addition, many websites offer a | | | | several other minorities. The programs listed |
| rundown of the benefits of ONAP's loans providing | | | | above were designed with this in mind, to bolster |
| valuable information to American Indians | | | | the numbers of American Indian's successful loan |
| interested in HUD's mortgage loans. Some of the | | | | applications. Traditionally, American Indians have |
| benefits from using HUD's One Stop Mortgage | | | | been poorly received by many institutions due to |
| Center are zero down payment, potential | | | | tribal autonomy, poor economy in tribal lands and |
| refinancing, mobile home financing and veterans | | | | other issues of concern. |
| programs. | | | | One of the factors behind Native Americans' |
| A partnership between the Native American Bank, | | | | difficulty in obtaining mortgage loans is the |
| LenderLive and Greenpoint Mortgage has resulted | | | | situation on tribal lands. Many times, the economy |
| in turnkey home mortgages for American Indians | | | | of these lands is depressed, leading to low paying |
| for a number of purposes like rehabilitation, | | | | jobs and high unemployment rates. The American |
| refinancing and home buying. This partnership | | | | Indians have begun a promising change, however. |
| provides American Indians with great resources | | | | Jobless rates, though still worse than national |
| to help in getting a home loan. The Native | | | | levels, are plunging. Social reforms, land acquisition |
| American Bank is now in position to be the | | | | and internal tribal change are revitalizing tribal lands |
| number one lender to American Indians and to | | | | and thus the economy and feasibility of acquiring |
| reap the rewards of serving this growing sector | | | | home loans. Many groups are beginning to |
| of the industry. | | | | recognize the potential of the Native American |
| The Fannie Mae Organization has also created | | | | peoples and are actively courting their interest. |
| mortgage programs for Native Americans. These | | | | |