| January 14, 2008 |
By Brian Catalde
NAHB President and
Jerry Howard
NAHB Executive VP and CEO |
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FHA multifamily mortgage insurance premiums won't go up in 2008
and NAHB is celebrating another victory in the battle to keep multifamily financing and rents for low- to moderate-income families affordable.
 The unjustified increase of 16 basis points was included in the Bush Administration's FY 2008 budget and would have applied to several key FHA multifamily mortgage programs. But on Jan. 8, NAHB heard firsthand from FHA Commissioner Brian Montgomery and John Garvin, Acting Deputy Assistant Secretary for Multifamily Housing Programs, that the proposal will NOT be implemented this year.
NAHB expressed strong opposition to the proposal on the grounds that it would needlessly increase the cost of FHA multifamily financing and result in higher rents to residents. In recent months, we have worked with our industry colleagues to once again lobby Congress regarding our collective opposition to the increase, and NAHB members have had the opportunity to express their concerns about the proposal to Commissioner Montgomery. In addition, NAHB staff discussed the issue with staff to House Appropriations Committee Chairman John Olver (D-MA) and signed on to an industry letter to the HUD appropriations committees expressing our opposition to the increase. Staff also met about this with the Office of Management and Budget, which unfortunately remains steadfast in its view that the FHA multifamily mortgage insurance programs do not provide a public purpose. The bottom line – while we may well find ourselves fighting the same battle again in the 2009 budget process, NAHB has helped beat back this unwanted increase one more time on behalf of our members. Read more in the next NBN Online, or contact Claudia Kedda, x8352.
NAHB Member Benefit: The proposed increase would have significantly impaired the capacity of the FHA multifamily mortgage insurance programs to address the nation's critical need for affordable rental housing. From the borrower's perspective, an increase from the current 45 basis points to the proposed 61 basis points would substantially change the mortgage amount and equity requirement.
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The Fed stands ready to take "substantive, additional action"
 in the form of interest rate cuts to keep housing and credit problems from dragging the economy into recession, said Federal Reserve Board Chairman Ben Bernanke in an important speech at a Women in Housing and Finance and Exchequer Club joint luncheon on Jan. 10. The Chairman seemed to leave little doubt that a fourth consecutive reduction in short-term rates is in the cards when the Federal Open Market Committee next meets on Jan. 29 and 30. Still uncertain, however, is whether a quarter-percentage point reduction or a half-percentage point cut may be in the offing. Read more about Bernanke's speech and following question-and-answer period here, or read the full-text of his prepared remarks on the Federal Reserve's Web site. Also see NAHB Chief Economist Dave Seiders's latest Eye on the Economy report (which was composed and published prior to the Chairman's latest remarks) for the latest NAHB economic analysis.
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Get a sneak preview of what's in store at the 2008 IBS
in a special pre-convention edition of Nation's Building News Online. Published on Jan. 14, this issue is a great resource for anyone planning to attend the upcoming International Builders' Show on Feb. 13-16 in Orlando. The sheer volume of products, services, technologies and educational sessions to be offered is truly impressive, and NBN Online aims to make sure you know your options. Special features of this edition include photos and floor plans of The New American Home® 2008, one of the most anticipated tour homes of the year that will make its debut during the show. Other items that make the latest NBN edition a particularly helpful resource for convention-goers include meeting schedules for area caucuses and the Board of Directors, notices of planned award presentations, times and locations for select educational sessions and details on the planned offerings of individual members of the National Council of the Housing Industry - The Leading Suppliers of NAHB. Don't miss this one-of-a-kind issue, and don't miss the biggest event of the year for home builders and their affiliates. Discounted online registration for the IBS has been extended through Jan. 25, after which attendees can register on site at the Orange County Convention Center starting Sunday, Feb. 10. For more on the NBN special issue, contact: Tim Ahern, x8427.
NAHB Member Benefit: NAHB produces the most important building trade show for all aspects of the housing and light commercial construction industries all year -- the International Builders' Show – that not only provides the most comprehensive forum for builder resources under one roof but also attracts worldwide media attention and positive coverage of the building industry. The IBS may be your most valuable member benefit due to all that you come away with in terms of business education, professional contacts and knowledge of the latest products and services geared specifically to your needs.
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Show home buyers how "green" you are
by becoming a Certified Green Professional™ through a new professional designation program being launched by the University of Housing at the 2008 International Builders' Show. This great educational opportunity will be unveiled as part of Green Day activities on Thursday, Feb. 14, and application information will be available at the show. Builders, remodelers and other industry professionals must have at least two years of building industry experience and be involved in the construction of at least one home in the past 24 months to apply for the designation. It is based on the "Green Building for Building Professionals" course, which is a two-day training and education session that more than 700 builders have already completed since the pilot was launched two years ago. Candidates must also complete a University of Housing business management course or have an existing designation, agree to continuing education requirements and adhere to a code of ethics. Applicants can do the coursework during special pre-conference education sessions before the IBS opens on Feb. 13. The business management and Green Building for Building Professionals classes are also offered at other NAHB conferences and by local HBAs throughout the country. The first class of Certified Green Professionals will receive their designations at the 10th annual NAHB National Green Building Conference, May 11-13 in New Orleans.
**Special reminder for Green Builders: Enter to win National Green Building Awards by January 31! Click here for more information, or contact Calli Schmidt at x8132.
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A few spots are still open for spokesperson training at the IBS!
 Learn the latest interviewing and public speaking techniques through NAHB's ever-popular Spokesperson Training program. Time is running out to sign up for a spot in our well-attended sessions being held at the International Builders' Show in February. The program features two different one-day seminars, including Interview Skills to help you master strategies for broadcast and print interviews, and Presentation Skills to help you organize and deliver a speech or presentation and handle a Q & A session. While the Interview Skills class scheduled for Tuesday, Feb. 12 is already sold out, limited spots remain in the Interview Skills program on Feb. 11 and the Presentation Skills programs on Feb. 13 and Feb. 14. Each one-day seminar runs from 9 a.m. - 4 p.m. For more information on session agendas or to download a registration form, click here or contact Brooke Fishel at x8061.
NAHB Member Benefit: NAHB provides the highest-quality spokesperson training available to help our members and HBA staff who deal with the media or regularly give public presentations. Builders and others who have taken the classes over the years - nearly 20,000 people altogether - constantly affirm the usefulness of this highly recommended education for helping them develop and effectively communicate the messages they want to deliver to the media and other audiences. Bottom line -- it's about making you look good!
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Calendar of upcoming events:
Click here for NBN Online's complete calendar of upcoming events!
NAHB Member Benefit: Interested in attending a University of Housing conference or learning more about NAHB designation programs? Visit www.nahb.org/notifyme, and sign up to receive more information.
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