H.R. 1728 would also increase regulation of mortgage brokers, help renters avoid eviction when landlords default on their mortgages and provide new safeguards for consumers seeking a mortgage or to refinance their existing home.

The House action occurred the day after the Senate passed its own mortgage aid bill, S. 896, that would help revamp the Hope for Homeowners program aimed at helping struggling borrowers to refinance into more affordable loans. The legislation would also protect mortgage servicers from lawsuits when they modify loans and increase the Federal Deposit Insurance Corporation's line of credit from the U.S. Treasury to $500 billion through 2010 and $100 billion thereafter. The Senate bill passed 91 to 5 just one week after an amendment that would allow judges to modify the terms of mortgages on a primary residence, known as a "cramdown," was stripped from the legislation.

The outlook for the House bill is uncertain as no companion bill has been introduced in the Senate. It is also unclear whether the House will take up and pass the Senate's housing bill. NAHB continues to monitor the situation closely and will continue to work with lawmakers to improve both housing bills. For more information on the House and Senate housing legislation, click here and type the respective bill numbers in the box in the upper center screen. For further details, contact Scott Meyer at 1-800-368-5242, x8144.

The budget comes on the heels of the Administration’s broad budget outline that was released in late-February and it serves as a guidance document for the Congress as it works through the fiscal 2010 appropriations process.  The annual appropriations process determines the levels of federal spending for each of the federal departments and agencies, and all programs within their respective jurisdictions. While the President's budget recommends spending levels for the next fiscal year, it is not legally binding. Congressional appropriators will have the final say in program realignment and spending levels.

Of interest to NAHB members are funding levels for several key housing and labor related programs:

Department of Housing and Urban Development

• Community Development Block Grants (CDBG): $4.5 billion
• Tenant-Based Rental Assistance (Section 8): $17.8 billion
• Project-Based Rental Assistance (Section 8): $8.1 billion
• HOME: $1.8 billion
• Housing Counseling Assistance: $100 million
• Housing Trust Fund: $1 billion
• HOPE VI: $0
• Rural Housing and Economic Development: $0
• Choice Neighborhoods Initiative:  $250 million (new program)
• Section 108 Community Development Loan Guarantees: $0
• FHA/Mutual Mortgage Insurance Fund Single Family Loan Guarantees: $400 billion
• Section 238 and 519 Loan Guarantees: $15 billion
• Office of Lead Hazard Control: $140 million
• Healthy Homes Initiative: $20 million

Department of Agriculture

• Section 502 Loan Guarantees: $6.2 billion
• Section 502 Direct Loans: $1.1 billion
• Section 515 Rental Housing: $69 million
• Section 538 Guaranteed Multi-Family Loans: $129 million

Department of Labor

• Workforce Investment Act (WIA): $3.8 billion
• Adult Employment and Training (under WIA): $861 million
• Ex-Offender Activities, including job training: $115 million
• Green Jobs Initiative: $28 million
• Job Corps: $1.7 billion
• OSHA (total): $563 million
• OSHA Susan Harwood Training Grants: $10 million
• OSHA Enforcement: $227 million
• OSHA Safety and Health Standard development: $20 million
• Bureau of Labor Statistics, Labor Force Statistics: $276 million

The House and Senate Appropriations Committees have already begun drafting the fiscal year 2010 appropriations bills, so it is unclear how much of an impact the Administration’s budget blueprint will have on that process.  House appropriators are scheduled to begin marking up their versions of the spending bills within the next few weeks and the House hopes to complete floor consideration of all of the fiscal year 2010 bills before the end of June.  The Senate will likely begin marking up its own spending bills sometime in late June.  The House and Senate always work towards meeting the goal of having all appropriations bills completed and signed by the President prior to the fiscal year-end deadline of September 30.  Fiscal year 2010 will begin on October 1, 2009.

NAHB will continue to monitor the appropriations process as funding decisions are made on key housing and labor programs. For more information, contact Jenna Hamilton at x8407. [return to top]

Included on our list of discussion items were: the housing outlook;  the need for guidance on condominium mortgage insurance as well as on use of the home buyer tax credit as a down payment on FHA-insured loans; ways to improve FHA's multifamily mortgage insurance programs; foreclosure mitigation efforts; and NAHB’s Green Building Standard and challenges in financing energy-efficient homes. Going forward, NAHB's leadership will present Secretary Donovan's request for recommendations on HUD issues to NAHB members attending this month's Spring Board of Directors Meeting in Washington, D.C.  For more information, contact David Ledford at x8265.
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