NAHB Applauds Passage Of Senate Bill

November 9, 2002
/ Print / Reprints /
/ Text Size+
WASHINGTON, DC — Expressing strong support for S. 2239, the “FHA Downpayment Simplification Act of 2002,” the National Association of Home Builders (NAHB) said that passage of the legislation by the Senate will help to increase the availability of affordable housing and expand rental housing and homeownership opportunities across the country.

“The National Association of Home Builders fought hard to have this important housing legislation passed by the Senate before Congress adjourns for the year,” stated Gary Garczynski, president of NAHB. “We urge the House to act on this bill when it returns after the November elections.”

The legislation contains several provisions designed to enhance housing affordability, including indexing FHA multifamily loan limits to inflation, permanently extending the FHA downpayment simplification process, and repealing a scheduled increase in the Ginnie Mae guaranty fee that would have raised the cost of housing for people using FHA insurance and VA guaranty programs.

“Indexing the loan limits to inflation will provide stability to FHA multifamily mortgage insurance programs and give builders and lenders confidence that they will be able to use the programs in their communities every year, even as construction and land costs rise over time,” said Garczynski.

Publication date: 11/11/2002

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2014 World Energy Engineering Congress

Scenes from the 2014 World Energy Engineering Congress in Washington, D.C.


NEWSMakers: Kari Arfstrom

Kari Arfstrom, executive director of the HVACR Workforce Development Foundation, talks about the upcoming HVACR & Mechanical Conference. Posted on Jan. 23.

More Podcasts


NEWS 01-26-15 cover

2015 January 26

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Regional Standards

With regional standards for a/c equipment going into effect in 2015, how do you think it will impact the industry?
View Results Poll Archive


2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con