"The Senate's package, taken as a whole, has the potential to meaningfully improve housing supplies and affordability. It is rare to see unanimous bipartisan agreement on major legislation, an indication that elected officials clearly recognize voter concerns about rising housing costs and limited availability."
"Broeksmit added that MBA has several concerns that must be addressed, including a drafting error related to Federal Housing Administration multifamily loan limits, which would have the effect of lowering them."
"The last thing that we have a real issue with on the ROAD to Housing (Act) is a proposal to divert funds from the FHA Mutual Mortgage Insurance Fund to support foreclosure counseling, something that should occur through the normal appropriations process."
The Senate's housing package has bipartisan support and aims to address rising housing costs and supply issues. Concerns include a drafting error affecting FHA multifamily loan limits and a proposed ban on single-family housing investors, which could limit capital flow into rental housing. The MBA is advocating for changes to mitigate these issues and is focused on credit reporting reforms to enhance competition and reduce borrowing costs. Additionally, there are concerns about diverting FHA funds for foreclosure counseling instead of following normal appropriations processes.
#housing-affordability #bipartisan-legislation #fha-loan-limits #investor-ban #credit-reporting-reform
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]