Washington, DC – On Wednesday, May 25 at 1:30 p.m. EST, (please see toll-free call-in information below), the National Council of La Raza (NCLR), the largest national Hispanic civil rights and advocacy organization in the U.S., will hold a telephonic press conference to release a report showing that Hispanic homebuyers are much more likely than other homebuyers to be locked into expensive mortgage products that hinder their ability to build equity and other assets.

Janet Murguia, NCLR President and CEO, will be joined by the report’s authors and community leaders to discuss lending practices that encourage reliance on untraditional mortgages and mortgage brokers and create barriers to accessing more traditional and affordable mortgage products – leading many Latino families to pay unwarranted premiums just to own their own home. In addition, speakers will address the report’s recommendations that Congress and industry leaders regulate the mortgage and banking industry and curtail the aggressive marketing and sales techniques of predatory lenders.

The report, Jeopardizing Hispanic Homeownership: Predatory Practices in the Homebuying Market, will be available to download from the NCLR website, www.nclr.org, at 1:30 p.m. EST (10:30 a.m. PST).

PRESS ADVISORY

WHAT: Telephonic press conference to discuss NCLR report showing high rate of predatory lending to Hispanic homebuyers

WHO: Janet Murguia, President and CEO (NCLR); Janis Bowdler, Housing Policy Analyst (NCLR); Walkiria Pool, Asset Development Specialist (NCLR); Marvin Kelly, Executive Director(Del Norte Neighborhood Development Corporation in Denver, Colorado) and Zachary Urban, Home Counseling Director (Brothers Redevelopment Inc. in Denver, Colorado)

WHEN: Wednesday, May 25, 2005 1:30 p.m. EST (10:30 a.m. PST)

CALL: 1-866-244-4576, Conference ID # 712640

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