A Capitol Idea

March 25, 2002

Realtors, Mortgage Bankers Associations Back Affordable Housing Legislation


Inman News Features

The National Association of Realtors and the Mortgage Bankers Association of America have thrown their muscle behind H.R. 3995, the "Housing Affordability for America Act of 2002" introduced Thursday by Rep. Marge Roukema (R-N.J.).

The legislation contains a number of NAR- and MBA-backed components, including provisions that will make permanent the Federal Housing Administration's down payment simplification formula, create an affordable housing production program, index the FHA multifamily loan limits to inflation, repeal the scheduled increase in the Ginnie Mae guaranty fee and reduce FHA down payments for teachers and public safety officers.

"We believe the time has come to address our nation's affordable housing crisis as a national priority. The omnibus housing bill introduced by Rep. Roukema proposes several viable solutions that not only address the shortage of affordable housing, but also eliminate programmatic and policy barriers that are effectively hindering rental housing opportunities and home ownership. Realtors around the country stand ready to work with Congress and the administration to gain passage of this important housing bill," said NAR President Martin Edwards Jr.

"We commend Rep. Marge Roukema for introducing the first comprehensive housing bill in the 107th Congress. With this bill and her strong leadership as chair of the House Subcommittee on Housing and Economic Development, Rep. Roukema has demonstrated her long and laudable commitment to affordable housing," said MBA Chairman Jim Murphy.

Copyright: Inman News Service


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.