MBA Statement on HUD and USDA Rescission of Energy Efficiency Standards Final Rule

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on the Department of Housing and Urban Development and Department of Agriculture rescinding the Energy Efficiency Standards for New Construction final rule for HUD- and USDA-financed housing:

“MBA welcomes today’s announcement from HUD Secretary Scott Turner and Secretary of Agriculture Brooke Rollins rescinding a burdensome and costly regulation that would have significantly increased the price of new home construction and limited access to FHA and USDA financing.

“We appreciate the agencies’ responsiveness to the concerns raised by our members about the real-world impact of this policy. This action reduces regulatory red tape that hinders new housing production and limits affordability – particularly for first-time and rural homebuyers.

“MBA has consistently emphasized that increasing housing supply is essential to improving affordability, and policies that unnecessarily raise construction costs work against that goal.

“We will continue to work with both agencies to advance policies that support sustainable homeownership, expand housing supply for owning and renting, and ensure that creditworthy borrowers across the country have access to affordable mortgage financing.”