Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, today issued the following statement regarding President Donald Trump’s executive order to revise regulations in the Dodd-Frank Act:
NAHB commends President Trump on his announcement to reform regulations in the Dodd-Frank Act that have hampered our nation’s housing recovery and slowed economic growth. We support common-sense regulations to protect American consumers and preserve our nation’s banking system. However, the tight lending conditions created by Dodd-Frank are preventing too many home builders from receiving loans and restricting mortgage financing to credit-worthy borrowers.
Regulatory relief for mortgage lenders and small and mid-sized banks that serve their communities is critical for the nation’s housing recovery. NAHB has been calling for reduced regulatory burden on real estate lending since Dodd-Frank’s passage in 2010.
We look forward to learning more about the Trump administration’s plans for changes to the Dodd-Frank Act. NAHB stands ready to work with policymakers and regulators to implement common sense regulations that protect American consumers and encourage economic growth.