Mortgage Revenue Bond Reform
Resolved that NAHB urge Congress to repeal the Ten-Year Rule.
Further resolved that NAHB urge Congress to increase the allowable difference between the interest rate charged to a borrower and the interest rate of the underlying mortgage revenue bond to approximately 2%.
Further resolved that NAHB urge Congress to enact a program that would enable state Housing Finance Agencies to issue qualified veterans bonds to fund loan programs or, in the alternative, to expand the use of their MRB programs by providing exceptions to the first-time home buyer purchase, price and income requirements of the MRB program to serve all past, present and future military veterans.
Resolution originally adopted: 2006.1, Resolution No. 2
Committee with primary jurisdiction:
- Housing Finance Committee