From May 11 through May 15, REALTORS® from across the nation will descend on Washington, D.C. for the National Association of REALTORS® Midyear Legislative Meetings and Trade Expo. During their time in the nation’s capital, REALTORS® will advance their legislative agenda and participate in a three-day real estate summit.
As REALTORS® meet with Members of Congress, they will advocate for important policy issues:
- Expand Affordable Property Insurance: Urging Congress to adopt a more forward-looking national policy that improves availability of affordable property insurance, including long-term reauthorization of the National Flood Insurance Program.
- Commercial Mortgage Market Liquidity: Restoration of the orderly functioning of commercial financial markets. Congress should pass H.R. 3380/S. 2919 to increase the cap on credit union commercial lending, urge the Federal Reserve and Treasury to encourage banks to provide term extensions for performing properties, and hold additional hearings on the state of commercial real estate markets.
- FHA Reform and FHA Loan Limits: Now more than ever, the FHA has proven the key role that it plays in the nation’s housing markets. Congress should pass legislation to strengthen FHA while still allowing it to provide access to safe, affordable financing for responsible borrowers unserved by the private market. Congress should also make permanent the existing higher FHA loan limit formula and loan limit cap.
- GSE Reform and GSE Loan Limits: Fannie Mae and Freddie Mac have helped to ensure a continual flow of capital to the mortgage market in all markets and in all economic conditions. Moving forward, the federal government must have a continued key role in the secondary mortgage market in order to ensure that there is capital for mortgage lending throughout all mortgage markets and in all market conditions. Congress should also make permanent the existing higher loan limit formula and loan limit cap.
Source: NAR Eye on the Hill