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Housing finance reform’s gridlock problem: Affordable housing


“Housing finance reform remains the single largest unfinished business of the housing crisis. And the single biggest factor standing in the way of that business is getting agreement on how to ensure that the GSEs serve all Americans, not just the wealthy.”
– David M. Dworkin

Shelter Shorts, The Week in Community Development—July 23


National Housing Conference CEO David Dworkin says that FHA commissioner Brian Montgomery’s announcement that HUD is “easing” use of the False Claims Act with regard to FHA lenders is actually a good thing. The sampling for mortgage defects to bring the lawsuits had gotten too picky, he says, and the lawsuits brought under the act were being used more to win showy settlements from banks with a lot of assets (who then stopped participating in FHA) rather than going after truly bad actors. Dworkin says a legislative fix would be better, as mortgages outlast administrations, but that this is a step in the right direction of getting more banks back to FHA lending.

Housing finance reform should fix what’s broken


“An important first step is allowing Fannie Mae and Freddie Mac to exit conservatorship as private companies with access to a federal guarantee that is paid for rather than implied. We need to finish the work we began in the Housing and Economic Recovery Act of 2008, which made the government rescue of the mortgage market possible. We need to fix what is broken.”
– David M. Dworkin

The Harm to Affordable Housing


“That’s how we could end up with a tax bill that cost us a quarter million units of affordable housing over ten years, and have that not be mentioned in the national debate.”
– David M. Dworkin

Cedar Rapids considers reinstating affordable housing commission


“On the other hand, including affordable units in a development can undercut its financial feasibility, reports the Urban Institute and National Housing Conference. For example, lower-cost units would mean less projected revenue, which could decrease the ability to secure a construction loan, the report found.”

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