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Letter on House T-HUD Appropriations 062612

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Letter on House T-HUD Appropriations 062612 Powered By Docstoc
					June 26, 2012


The Honorable Harold Rogers                             The Honorable Norm Dicks
Chairman                                                Ranking Member
Committee on Appropriations                             Committee on Appropriations
U.S. House of Representatives                           U.S. House of Representatives
H-307, The Capitol                                      H-307, The Capitol
Washington, DC 20515                                    Washington, DC 20515

The Honorable Tom Latham                                The Honorable John Olver
Chairman                                                Ranking Member
Subcommittee on Transportation, Housing and             Subcommittee on Transportation, Housing and
Urban Development and Related Agencies                  Urban Development and Related Agencies
U.S. House of Representatives                           U.S. House of Representatives
H-307, The Capitol                                      H-307, The Capitol
Washington, DC 20515                                    Washington, DC 20515

Dear Chairman Rogers, Ranking Member Dicks, Chairman Latham and Ranking Member Olver:

On behalf of the Mortgage Bankers Association (MBA), I am writing to express our support for
H.R. 5972, the Transportation, Housing and Urban Development appropriations bill for fiscal year
2013, which will be considered by the full House this week. The legislation contains critical funding
for the U.S. Department of Housing and Urban Development (HUD) as well as the Federal Housing
Administration (FHA) and Ginnie Mae.

MBA supports funding for FHA and Ginnie Mae staffing and technology. Given FHA and Ginnie

economic times, this funding is critical to providing these entities the resources they need to
effectively handle their increased loan volume in the single-family and multifamily mortgage markets.

We also support funding for housing and homeownership counseling included in the bill and would
support amendments to increase the allocation to meet the administration request for at least $55
million. These funds are critical to assisting homeowners facing foreclosure, helping first-time
homebuyers navigate the challenges of the purchase process and counseling for reverse mortgages
(a program requirement) for seniors, a traditionally high-risk group for financial fraud.

MBA is pleased H.R. 5972 provides FHA with the requested $25 billion in commitment authority for
                             care programs during FY2013. This amount should ensure there are
no disruptions in these important programs during the year. We remain concerned, however, about
       proposal to increase the mortgage insurance premiums for multifamily and healthcare
programs. This proposed increase should not be implemented unless there is data to justify it.

During floor consideration, MBA urges members to support an amendment that may be offered by
Representative Scott Garrett to prevent HUD from finalizing its proposed rule that would permit
                                                      MB

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MBA Letter on FY 2013 Appropriations
June 18, 2012
Page 2 of 2


because the Fair Housing Act does not provide a clear legal basis for such claims, the burden of
proof in the proposal is inconsistent with Supreme Court case law, and the proposal fails to take into
account current and forthcoming government requirements such as the Consumer Financial


The House should also oppose any amendments that raise FHA downpayment requirements or
lower loan limits or any other proposals that would
by unnecessarily restricting access to affordable mortgage credit.

MBA urges members of the House to support this important appropriations bill and the Garrett
amendment. As this legislation moves forward, we look forward to working with you to ensure it
contains measures that promote a recovery in our nation s real estate markets.

Sincerely,




William P. Killmer
Senior Vice President
Legislative and Political Affairs  

				
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