Senate-Passed Banking Bill Could Ease Tight Credit Conditions

Filed in Capitol Hill by on March 15, 2018 2 Comments

The Senate passed bipartisan legislation yesterday by a vote of 67-31 on a bill that would help ease tight credit conditions that are hindering the momentum of the housing industry.

S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, shows that lawmakers from both sides of the political aisle can work together on meaningful legislation that would alleviate some of the harsh and unnecessary regulations on “Main Street” banks — rules enacted in the 2010 Dodd-Frank law.

“Passage of S. 2155 will bring much-needed regulatory relief to regional and community banks, and ease tight credit constraints that have hurt home buyers and home builders alike,” NAHB Chairman Randy Noel said in an official statement. “We commend the Senate for passing this legislation that will eliminate some of the barriers to credit availability and support a stronger, more robust recovery of the housing and mortgage markets.”

For more information, contact Scott Meyer at 800-368-5242 x8144.

 

Facebooktwitterlinkedinmail

Tags: , ,

Comments (2)

Trackback URL | Comments RSS Feed

  1. Dave Greene says:

    I am a small builder in Florida who can’t get a loan for a model or spec house. Hopefully this can open
    Up the field a little.

  2. Eric Parker says:

    I am also a small builder who builds one or two spec houses at a time along with custom homes. Suddenly payment history and assets have NO bearing on whether or not I can get a loan. It’s all about ratios, making it impossible for buildiers like me, with plenty of cash flow and assets, to get a loan. Have been turned down at 5 different banks this year, effectively ending the way I have made a living for the past 12 years. All because of this legislation. Hopefully this will do something to help.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement