United States Senate Committee on Indian Affairs
Senator John Hoeven (R-ND), Chairman of the Senate Committee on Indian Affairs, yesterday convened an oversight hearing titled “Lending Opportunities: Opening the Door to Homeownership in Indian Country.”
“Home-ownership provides individuals and families stability, safety, and the opportunity to build better communities,” said Hoeven. “In Indian country, title issues, as well as difficulties in collateralizing tribal assets, may make investors wary of financing tribal applicants. As the Administration continues to prioritize economic growth and regulatory reform, it is important that these positive impacts are also felt in Indian country.”
In his opening remarks and during questioning, Senator Hoeven examined the difficulties tribal members face when applying for home mortgages on trust land. Testimony from the U.S. Department of Housing and Urban Development highlighted how one of the most used guaranteed loan products, the Section 184 loans, are being utilized by Indian Tribes.
The Committee heard testimony from The Honorable R. Hunter Kurtz, Assistant Secretary for Public and Indian Housing, U.S. Department of Housing and Urban Development; The Honorable Max Zuni, Governor, Isleta Pueblo; The Honorable Nathaniel “Nate” Mount, Council Member, Ft. Belknap Indian Community; Mr. Darryl LaCounte, Director, Bureau of Indian Affairs, U.S. Department of the Interior; and Ms. Patrice H. Kunesh, Director, Center for Indian Country Development - Assistant Vice President Federal Reserve Bank of Minneapolis.
For complete testimony and video of the hearing click here.