Statement from NAHB Chairman Kevin Kelly on Johnson-Crapo Housing Finance Reform Deal

March 11, 2014 - Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del., issued the following statement on today’s announcement by Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho) that they had reached an agreement on a housing finance reform proposal:

“NAHB commends Sens. Johnson and Crapo for reaching a bipartisan agreement to reform the nation’s housing finance system. The plan would provide a federal backstop to ensure that the 30-year mortgage, the bedrock housing finance tool for most consumers, remains readily accessible and affordable. The proposal also includes many elements advocated by NAHB that will boost private capital in the marketplace and ensure a reliable and adequate flow of liquidity for single-family and multifamily housing. NAHB looks forward to working with the Senate to create a strong, sustainable housing finance system. We urge the Senate to move quickly so that housing finance reform legislation can be enacted into law before the midterm elections.”


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