• 2008 Fall Board of Directors Meeting

The 2008 Fall Board of Directors Meeting will be held at the San Diego Marriot Hotel and Marina, 333 West Harbor Drive, San Diego, Calif., September 23-26. Online registration for the Fall Board of Directors Meeting is still open.
 
Committee meetings will begin on Wednesday, September 24 and the Board of Directors Meeting will take place on Friday, September 26. No Meetings are presently scheduled for September 27 or 28.

View the 50+ Housing Council Fall Board Materials.

• NAHB Seeks Passage of Seller Downpayment Assistance Bill

NAHB last week sent a letter to all House members in support of legislation to reinstate Federal Housing Administration (FHA) seller downpayment assistance for qualified borrowers.

Introduced by Rep. Al Green (D-Texas), H.R. 6994, the FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act of 2008, would allow this critical homeownership program to continue past its current Oct. 1 expiration date.

The bipartisan measure, which will be considered by the House Financial Services Committee on Sept. 16 and by the full House shortly thereafter, also is sponsored by Reps. Maxine Waters (D-Calif.), Christopher Shays (R-Conn.) and Gary Miller (R-Calif.).

H.R. 6694 would remove the current 12-month moratorium on risk-based mortgage insurance premiums. NAHB supports this provision and believes the authority to set insurance premiums that are commensurate with credit risk, while retaining the principle of actuarial soundness, would open the FHA program to growing ranks of potential home buyers who currently are shut out of the mortgage market by a tightening of qualification criteria.

NAHB continues to urge lawmakers to pass this measure before Congress adjourns for the year in October.

To view the legislation, click here and type the bill number in the box at the center of the page.

Read the full article in NBN.

For more information, e-mail Scott Meyer at NAHB, or call him at 800-368-5242 x8144.