In a letter to HUD Secretary Julián Castro, Senators Bob Corker (R-TN) and David Vitter (R-LA) said the policy change was premature since the FHA’s capital reserves remain below levels required by Congress. House Financial Services Committee Chairman Jeb Hensarling (R-TX) also weighed-in, saying that the decision “will be increasing the likelihood that taxpayers will have to foot the bill for yet another bailout.”
While there is no question that our nation needs strong single-family and multifamily sectors that work together, the multifamily industry’s ability to increase the supply of available apartments in order to meet current demand also directly helps housing affordability.
As a result, NMHC/NAA will continue to work closely with the Administration, Congress and HUD to ensure that the multifamily industry can best serve our 37 million residents and strengthen communities across the country.
- NMHC/NAA Sign On to Industry Letter Requesting Continuation of FHA/FFB Loan Programs
- NMHC/NAA Letter to HUD Regarding Risk Sharing
- Dodd-Frank, GSEs and FHA in Republican Crosshairs
- HUD Issues Final Multifamily Mortgage Insurance Rates
- NMHC and NAA Applaud Proposal to Cut FHA Mortgage Insurance Premiums