May 07, 2010
On May 3, NCSHA sent House Financial Services Committee Chairman Barney Frank (D-MA) a letter in support of his Housing Preservation and Tenant Protection Act, H.R. 4868. This legislation contains numerous measures to help stem the loss of affordable housing units across the country. The House Financial Services Committee is expected to mark up H.R. 4868 soon.
In the letter, NCSHA thanks Chairman Frank for including an NCSHA-requested provision to eliminate the prohibition on Ginnie Mae securitization of FHA-HFA Risk-Sharing loans. This provision would facilitate the sale of bonds to fund HFA loans necessary for the development and preservation of affordable housing. The letter also expresses appreciation for Frank including another provision NCSHA supports offering owners of state-assisted or financed properties with maturing mortgages the option of accepting a project-based Section 8 Housing Assistance Payment (HAP) contract to help preserve these affordable properties.
- Sally Malone's blog
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