MBA Mortgage Action Alliance Call to Action Seeks Flexibility in HUD Multifamily Mortgage Insurance Programs

The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a Call to Action urging its members to urge Congress to support the need for HUD to provide greater flexibility in its policies for FHA multifamily mortgage insurance programs.

MBA Senior Vice President for Legislative and Political Affairs Bill Killmer said while the Biden Administration is calling for significant increases in housing supply, FHA’s industry partners are facing growing construction and labor costs, supply chain issues and rising interest rates. He noted the multifamily accelerated processing (MAP) program at HUD is critical to supporting the creation of safe, decent, and affordable rental housing, and HUD must work more effectively with lenders to ensure the continued production of multifamily housing units.

The Call to Action asks MAA members to contact their representatives and senators to urge the House Financial Services Committee, Senate Banking Committee and House and Senate Appropriations Committees to conduct immediate oversight and request briefings from HUD regarding the FHA multifamily program to help accelerate the creation of safe, quality housing through the implementation of these suggested changes.

“These items must take precedence when our nation’s affordable housing needs are so acute,” Killmer said.

For more information about MAA and the Call to Action, click here.