On July 3, 2019 NAR sent a letter to Commissioner Montgomery of the U.S. Department of Housing and Urban Development. The letter responds to the Federal Housing Administration (FHA) advance notice of proposed rulemaking and request for public comment on the FHA Single-Family Loan Sale Program (the Program). NAR remains concerned that the Program as previously operated has led to a decrease in homeownership and an increase in single-family rental housing in many communities across the country. While NAR appreciates previous FHA efforts to improve the Program in its pilot phases, FHA must work to ensure that loan sales prioritize loan purchases that lead to owner-occupied homes over absentee landlord rental houses while developing a permanent version for the Program.
NAR Public Comment Letter to Commissioner Montgomery Regarding FHA Single Family Loan Sale Program
Issue Date: July 03, 2019
On July 3, 2019 NAR sent a letter to Commissioner Montgomery of the U.S. Department of Housing and Urban Development. The letter responds to the Federal Housing Administration (FHA) advance notice of proposed rulemaking and request for public comment on the FHA Single-Family Loan Sale Program (the Program). NAR remains concerned that the Program as previously operated has led to a decrease in homeownership and an increase in single-family rental housing in many communities across the country. While NAR appreciates previous FHA efforts to improve the Program in its pilot phases, FHA must work to ensure that loan sales prioritize loan purchases that lead to owner-occupied homes over absentee landlord rental houses while developing a permanent version for the Program.
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