NAR Letter to Representatives Waters and McHenry Regarding US HR 2445 Self-Employed Mortgage Access Act
Issue Date: December 09, 2019
On December 9 NAR sent a letter to Chairwoman Waters, Ranking Member McHenry and the members of the U.S. House Committee on Financial Services. The letter expresses NAR’s support of several bills under consideration by the House Committee on Financial Services that protect homebuyers’ creditworthiness in an effort to promote a vibrant housing market and economy. Nearly 90 percent of home sales are financed and a borrowers’ credit report and credit score are a critical gateway to obtaining a mortgage that depends on accuracy and transparency. Furthermore, given the increased dependence on credit reports by creditors, employers, insurers and law enforcement, NAR believes Americans should not be penalized by mistakes in their credit reports.