Administrative Reforms to the Housing Finance System

Resolved that NAHB reaffirm its support for comprehensive housing finance system reform through legislative action and support for an explicit federal government backstop;

Further resolved that NAHB reaffirm support for the existing annual adjustments to the loan limits for Fannie Mae, Freddie Mac and FHA single family mortgage programs;

Further resolved that NAHB urge FHFA, the Department of Housing and Urban Development (HUD) and/or the U.S. Department of the Treasury (Treasury) to go through Notice and Comment rulemaking procedure when considering administrative and/or regulatory changes;

Further resolved that NAHB oppose actions that would disrupt liquidity in either the single family or multifamily housing markets, decreasing access to credit for single family homes and multifamily units;

Further resolved that NAHB oppose increases to mortgage fees charged by Fannie Mae and Freddie Mac and HUD that will have an adverse impact on homebuyers and prevent creditworthy homebuyers from obtaining mortgage credit;

Further resolved that NAHB oppose increases to guarantee fees charged by Fannie Mae and Freddie Mac when the fees are used for purposes other than to cover expected credit losses, the required return on capital, and other administrative costs of the Enterprises;

Further resolved that NAHB oppose activities and reforms that will disrupt the countercyclical role of the federal government and GSE housing programs in providing access to mortgage credit;

Further resolved that NAHB support the FHA full guarantee and oppose any efforts to reduce FHA insurance to a partial guarantee;

Further resolved that NAHB support the affordable housing mission of Fannie Mae and Freddie Mac while in conservatorship that has flexibility to address a broad range of housing needs and are balanced to ensure safety and soundness of the Enterprises;

Further resolved that NAHB support FHFA’s efforts to encourage private capital to share credit risk undertaken by the Enterprises as long as credit sharing transactions do not increase mortgage costs or otherwise negatively impact access to credit or the safety and soundness of Fannie Mae and Freddie Mac.

Resolution originally adopted: 2018.7, Resolution No. 1

• Housing Finance