MBA Statement on the Senate Passage of the 21st Century ROAD to Housing Act

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement after the Senate passed the 21st Century ROAD to Housing Act:

“MBA supported the underlying House and Senate housing proposals that formed the basis for this bipartisan package and appreciates policymakers’ continued focus on meaningful solutions to address our nation’s housing supply and affordability challenges.

“While the bill that passed today includes many positive provisions to boost housing supply, streamline federal housing programs, expand access to small-dollar mortgage lending, advance manufactured and modular housing, and improve the efficiency of our nation’s housing finance system, MBA and its members have significant concerns with several parts of the bill. 

“The restrictions on institutional investment in single-family housing would further limit financing for build-for- and built-to-rent housing communities, while the Federal Housing Administration multifamily section would reduce loan limits and constrain capital for new rental housing development.

“For these reasons, MBA urges Senate leaders and the Trump administration to work with the House to address these provisions before the legislation moves any further. The goal should be clear: a final package that puts the country on a path to increased affordability, lower operational costs, less red tape, and more housing, not less.”

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Go deeper: Click here to read MBA’s letter sent yesterday to Senate leaders outlining our concerns with the bill.