NAHB Lauds Trump Memorandum for Housing Finance ReformApril 1st, 2019 by Editor
The National Association of Home Builders (NAHB) issued a commendation to President Trump for signing a memorandum last week directing relevant agencies to develop a plan to help more Americans achieve homeownership.
“We applaud the president for taking an active leadership role to revamp the nation’s housing finance system,” said NAHB Chairman Greg Ugalde, a homebuilder and developer from Torrington, Conn. “NAHB is especially pleased that his memorandum specifically cites the importance of preserving the 30-year, fixed-rate mortgage, which has enabled millions of American families to build wealth and financial security through homeownership.”
The President’s memorandum was issued after two days of Senate Banking Committee hearings where Ugalde testified on this issue as part of the committee’s evaluation of Senator Mike Crapo’s proposal to overhaul the housing finance system.
Ugalde is optimistic that these developments will spur the cooperation needed at the legislative level to revamp the nation’s housing finance system.
“The right reforms are critical to maintain a healthy housing market and ensure that single-family and multifamily housing credit for sale and rental properties remains readily available,” said Ugalde.
Now it’s up to Congress to make those changes without interrupting the flow of credit.
“NAHB looks forward to working with the White House and Democratic and Republican leaders in Congress to pass bipartisan housing finance legislation that provide certainty to the marketplace while maintaining the proper level of government support for housing in all economic and financial market conditions,” Ugalde said.