Realtors® Support FHFA Director Watt’s Efforts to Promote Affordable Homeownership

Realtors® Support FHFA Director Watt’s Efforts to Promote Affordable Homeownership

WASHINGTON – January 29, 2015 – (RealEstateRama) — The following is a statement by National Association of Realtors® President Chris Polychron: “Realtors® support responsible lending to qualified buyers, which is essential for building strong communities. The new low down payment mortgage program introduced last month by Federal Housing Finance Agency Director Mel Watt will safely serve creditworthy borrowers who lack the resources for substantial downpayments plus closing costs while mitigating risk with strong underwriting.

“NAR research shows that saving for a down payment is the biggest hurdle to homeownership for many first-time buyers, who have been entering the market at lower than normal rates. Improved access to safe, affordable mortgage credit through FHFA’s 3 percent down payment program will help new borrowers achieve the dream of homeownership.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries

Media Contact: Jenny Werwa / 202-383-1193

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With more than 1.3 million members, the National Association of REALTORS (NAR) is the voice for real estate. Visit REALTOR.org to see how our real estate resources can benefit you.

REALTOR® magazine (http://www.realtor.org/realtormag) is the official magazine of the NATIONAL ASSOCIATION OF REALTORS® and the business tool for real estate professionals.

The magazine advances real estate best practices, brings expert insight to significant trends, and provides REALTORS® with timely decision-making tools on business purchases and strategies.

Contact:

Walt Molony
202/383-1177

1-800-874-6500

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