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Slight Decline in Multifamily Lending Caps for Fannie Mae and Freddie Mac

Filed in Housing Finance, Multifamily by on November 21, 2017 0 Comments
Slight Decline in Multifamily Lending Caps for Fannie Mae and Freddie Mac

The Federal Housing Finance Agency (FHFA) announced today that multifamily lending caps for Fannie Mae and Freddie Mac will be $35 billion for each enterprise in 2018, down from $36.5 billion in 2017.

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Tax Reform Advances on Capitol Hill

Filed in Capitol Hill by on November 17, 2017 5 Comments
Tax Reform Advances on Capitol Hill

The House on Nov. 16 passed The Tax Cuts and Jobs Act, tax reform legislation opposed by NAHB because of its detrimental effects to the housing market and middle-class families. Late that evening, the Senate Finance Committee advanced its version of tax reform legislation that NAHB believes is better for the housing sector. However, like the House bill, the Senate tax plan fails to provide a meaningful incentive for homeownership for the middle class.

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Fannie Mae, Freddie Mac Re-enter the Low Income Housing Tax Credit Market

Filed in Housing Finance by on November 16, 2017 0 Comments
Fannie Mae, Freddie Mac Re-enter the Low Income Housing Tax Credit Market

In a positive development that should help boost the affordable housing market, the Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will be allowed limited re-entry into the Low-Income Housing Tax Credit (LIHTC) market as equity investors, effective immediately.

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FHA Capital Reserves Above Statutory Minimum for Third Straight Year

Filed in Housing Finance by on November 15, 2017 0 Comments
FHA Capital Reserves Above Statutory Minimum for Third Straight Year

The Federal Housing Administration (FHA) today released its annual report to Congress that shows the agency’s capital reserve ratio fell by $1.9 billion to a total economic net worth of $25.6 billion.

However, for the third straight year FHA’s reserve ratio has exceeded the congressionally mandated 2% threshold. FHA’s Mutual Mortgage insurance Fund now stands at 2.09% of the loans back stopped by the agency, vs. the 2.35% level from a year ago.

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House Approves Five-Year Flood Insurance Reauthorization

Filed in Capitol Hill by on November 14, 2017 0 Comments

The House today approved legislation that would reauthorize the National Flood Insurance Program for five years and includes many NAHB-supported modifications to the program.

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Builders Fly to Washington to Push for Homeownership Tax Credit

Filed in Capitol Hill, Homeownership by on November 14, 2017 2 Comments
Builders Fly to Washington to Push for Homeownership Tax Credit

More than 50 builders from across the nation are traveling to Washington this week to hold meetings with key House and Senate Republican leaders and urge them to include a homeownership tax credit in tax reform legislation pending in both chambers of Congress.

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Senate Tax Reform Bill a Better Starting Point

Filed in Capitol Hill by on November 10, 2017 5 Comments
Senate Tax Reform Bill a Better Starting Point

While NAHB still opposes the current House tax reform legislation, the Senate bill released last night represents a step forward. Unlike the House bill, the Senate package provides meaningful tax relief for small businesses and keeps the complete Low-Income Housing Tax Credit program in place. However, NAHB believes that both the House and Senate bills fall short in maintaining an effective homeownership tax incentive.

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House Passes Joint Employer Bill, Providing Certainty for Small Businesses

Filed in Capitol Hill, Labor, Safety and Health by on November 7, 2017 1 Comment
House Passes Joint Employer Bill, Providing Certainty for Small Businesses

NAHB today commended the House for passing the bipartisan Save Local Business Act, legislation that would amend the National Labor Relations Act and Fair Labor Standards Act to restore a common sense joint employer standard for home building firms and other small businesses.

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Congress Urged to Extend Legal Status of Foreign-Born Construction Workers

Filed in Capitol Hill, Labor, Safety and Health by on November 7, 2017 0 Comments
Congress Urged to Extend Legal Status of Foreign-Born Construction Workers

NAHB and allied groups have sent a joint letter to bipartisan congressional leaders urging them to extend the Temporary Protected Status designations for El Salvador, Haiti and Honduras to help alleviate the severe labor shortage in the construction industry.

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NAHB Opposes Tax Reform Plan

Filed in Capitol Hill, Homeownership by on October 28, 2017 12 Comments
NAHB Opposes Tax Reform Plan

NAHB came out today in official opposition to the House Republican tax reform legislation to be unveiled Nov. 1. The sudden shift came after House Speaker Paul Ryan unexpectedly informed NAHB CEO Jerry Howard that a meaningful homeownership tax incentive targeted to the middle class and negotiated in good faith with members of the House Ways and Means Committee would be stripped from the bill.

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