NAHBís effort began in the fall of 2001 when it successfully persuaded Congress to raise the FHA Multifamily Mortgage Insurance programís base loan limits by 25%. Those limits had not been raised since 1992. Last year, Congress agreed to index those limits to inflation, effective Jan. 1, 2003.
Those successes are in addition to work by NAHB to help HUD modify the model it was using to set mortgage insurance premiums, which was resulting in unreasonably high premiums for builders. During meetings with HUD, NAHB economists explained the problems and suggested solutions. HUD now incorporates NAHBís approach to set insurance premiums that are reasonable and accurate.
Multifamily Leadership Board Conference Call ó Jan. 8, 2004
Industry expert Ron Witten, president of Witten Advisors, Dallas, will brief the members and invited guests of the Multifamily Leadership Board on what to expect in the coming months in terms of trends and hot markets. For information on participation, contact Laura Zaner, 800-368-5242 x8563.
2004 NAHB Multifamily Pillars of the Industry Conference & Awards Gala
Donít miss the Multifamily Pillars of the Industry Conference and Awards Gala, the premier educational and networking event of the year for the multifamily industry, in Palm Springs, CA, March 28-30. Explore both the current and future state of the multifamily industry. Click here for more information.
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