Letter to House Financial Services cmte. on Commerical Loan Term Extensions
Issue Date: July 07, 2011
NAR sent a letter to Shelley Moore Capito (Chairman) and Carolyn Maloney (Ranking Member) of the House Financial Services Subcomittee regarding the hearing on “Legislative Proposals Regarding Bank Examination Practices.” NAR requested that they support H.R. 1723, the “Common Sense Economic Recovery Act of 2011,”
introduced by Representative Posey (R-FL). This legislation will direct federal banking agencies to treat current, non-delinquent, and amortizing loans as accrual loans instead of as non-accrual loans, creating more financing options when commercial real estate loans mature and allowing financial institutions to play a more significant role in revitalizing our nation’s economy.