MBA Letter to Congress Supports H.R. 6644, the Housing for the 21st Century Act

On Friday, the Mortgage Bankers Association sent a support letter to House leadership and all Members of Congress urging them to vote in favor of H.R. 6644, the Housing for the 21st Century Act, which is tentatively scheduled for a vote today.

The bipartisan housing package, which passed the full House Financial Services Committee on December 17 by a vote of 53-1, aims to tackle supply and affordability challenges, modernize local development and improve government housing programs.

Specifically, the package (see breakdown here) advances several MBA-backed reforms, including updating Federal Housing Administration multifamily loan limits, streamlining federal housing program offerings, incrementally improving financing processes for Rural Housing Service loans, providing targeted support for construction and rehabilitation, and fostering stronger coordination among federal agencies and Congress.

For more information, please contact MBA Senior Vice President of Legislative & Political Affairs Bill Killmer.