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| NAHB Chairman Joe Robson testified before Congress earlier this year on AD&C and other banking issues. |
Builders Say Banks Putting a Cold Chill on Recovery Hopes
Working with regulators, lawmakers and banks to try to end the stranglehold on acquisition, development and construction (AD&C) loans that has emerged as a major impediment to a housing recovery, NAHB has compiled more than 100 case studies from builders across the country to show policymakers how the credit crisis is undermining efforts to restore the health of the nation’s economy.
“The studies confirm what we’ve been hearing from builders in the field,” said NAHB Chairman Joe Robson. “Builders and developers are reporting excessive credit restrictions, where lenders are cutting off loans for viable new housing projects and producing unnecessary foreclosures and losses on AD&C loans. We cannot get the economy back on track until we restore the flow of credit that is vital for the production of housing.” ...
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