50+ Housing e-Source - 04/19/2006 (Plain Text Version)Norman Cohen View Graphical Version | Subscribe
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Editor... In this issue: NAHB NewsSemi-Annual Construction Forecast NAHB will host the Semi-Annual Construction Forecast Conference at the National Housing Center on Thursday, April 27 from 8:30 a.m.-4:00 p.m. Will the housing sector follow an orderly “simmering down” pattern for 2006 or is housing a downside risk for the economy? Will the rate of home price increases slow nationally or will the dynamics of each local market dictate price behavior? Do builders need to offer financial incentives to market new homes? These questions and more will be answered at NAHB’s Semi-annual Construction Forecast Conference. The event will feature a series of panel discussions on the economic outlook of housing for 2006 and beyond, including:
Panel speakers will feature highly regarded economists and industry experts including:
For more details and to view the day’s agenda, please visit www.nahb.org/cfc. To Register: To register, call 800-368-5242 x8338. Builders Urge Congress To Adopt FHA Reforms To help spur housing opportunities for America’s working families, the nation’s home builders today called on Congress to support the Bush Administration’s efforts to reform and revitalize the Federal Housing Administration’s single-family mortgage insurance programs. Testifying before the House Financial Services Committee’s Housing and Community Opportunity Subcommittee, Jerry Howard, executive vice president and CEO of the National Association of Home Builders (NAHB), said that statutory and regulatory constraints have limited the FHA’s ability to respond to the needs of borrowers. “All too often, the differences between the FHA’s requirements and those for conventional mortgages have been viewed by lenders, appraisers and others as a disincentive to use FHA programs,” said Howard. “And FHA’s unique and often burdensome requirements have caused many home builders to avoid using its programs to build homes that otherwise would have been well-suited to borrowers who planned to use FHA-insured mortgage loans.” Howard added that important strides have been made to revitalize the FHA under the stewardship of FHA Commissioner Brian Montgomery, who assumed his office last June. “Acting with the support of HUD Secretary Alphonso Jackson, Commissioner Montgomery’s efforts are already being realized as the FHA has aligned its appraisal requirements by eliminating needless paperwork requirements. Other steps that have made the program more user friendly are the FHA’s new policies that increase the allowable loan-to-value ratio for cash-out refinancing transactions and revisions to the 203(k) rehabilitation program.” Despite these positive changes, Howard told lawmakers that FHA’s loan structure and downpayment requirements, which are established by Congress, seriously constrain its ability to deliver the range of mortgage products that are needed to fulfill its housing mission. “To meet the needs of unserved and underserved families who desire to purchase a home, NAHB believes that Congress should grant the FHA broader authority outlined in the Administration’s fiscal 2007 budget proposal and detailed in draft authorizing legislation,” said Howard. Specifically, NAHB is urging Congress to take the following actions:
For more information or to contact us directly, please visit www.NAHB.org | ©2005, National Association of Home Builders |