Statement from the National Housing Conference on Johnson-Crapo Housing Finance Reform Proposal

Statement from the National Housing Conference on Johnson-Crapo Housing Finance Reform Proposal

WASHINGTON, D.C. – March 13, 2014 – (RealEstateRama) — Today’s announcement by Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho) of their agreement on housing finance reform is a positive step in the ongoing work to mold a new future for housing finance in America.

“Bipartisan action is exactly what this country needs for housing finance legislation,” said National Housing Conference President and CEO Chris Estes.  “Access to affordable homeownership and rental housing transcends partisan divides.”

While the full bill is forthcoming and more analysis will be necessary, this bipartisan agreement includes many features NHC and our housing finance reform coalition have asked for, like ensuring the availability of 30-year fixed rate mortgages, including low-downpayment options and a well-functioning To Be Announced (TBA) market; stable, liquid capital for multifamily housing; an affordability fee to support the National Housing Trust Fund, the Capital Magnet Fund, and a Market Access Fund; and an obligation by participants in single family and multifamily secondary markets to serve all eligible borrowers in all areas and housing types.

The National Housing Conference will continue to evaluate the bill against the principles developed by our coalition on housing finance reform and will work closely with legislators as the bill moves to markup in coming weeks. These principles represent a consensus among a broad coalition of housing groups on what is needed for an affordable market that can adequately serve the entire country and both the multifamily and single family housing sectors.

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About the National Housing Conference

The National Housing Conference (NHC) represents a diverse membership of housing stakeholders including tenant advocates, mortgage bankers, nonprofit and for-profit home builders, property managers, policy practitioners, Realtors®, equity investors, and more, all of whom share a commitment to safe, decent and affordable housing for all in America. We are the nation’s oldest housing advocacy organization, dedicated to the affordable housing mission since our founding in 1931. We are a nonpartisan, 501(c)3 nonprofit that brings together our broad-based membership to advocate on housing issues.

Contact:
Amy Clark
202.466.2121 (ext. 226)

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For more than 75 years, the nonprofit National Housing Conference (NHC) has been the United Voice for Housing. A membership drawn from every industry segment forms the foundation for NHC’s broad, nonpartisan advocacy for national policies and legislation that promote suitable housing in a safe, decent environment.

NHC's research affiliate, the Center for Housing Policy, specializes in developing solutions through research. In partnership with NHC and its members, the Center works to broaden understanding of the nation’s housing challenges and to examine the impact of policies and programs developed to address these needs.

Contact:

National Housing Conference
1801 K Street, N.W., Suite M-100
Washington, DC 20006-1301

Phone: 202/466-2121
Fax: 202/466-2122

Media contact:
Laura Woods
Phone: (202) 466-2121 x240

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