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Week of December 15, 2003

Front Page

President's Message

* 2003 – A Year to Remember

Housing Politics

* ‘American Dream Downpayment Act’ to Increase Housing Opportunities
* HUD Secretary Martinez Resigns to Run for Senate
* Jackson Nominated as Housing and Urban Development Secretary

Multifamily

* FHA Multifamily Mortgage Insurance Receives Another Reprieve in Congress
* NAHB Hits the Target on All of Its FHA Multifamily Legislative Goals
* Managing Property Like a Pro

Business Management

* Protecting Yourself From Fraud: An Introduction

Seniors Housing

* Rental Apartments for All Ages Are Competition to Seniors Housing

Sales and Marketing

* Model Merchandising and the Sales Manager: Character Counts

Building Green

* National Green Building Awards Applications Due by Dec. 31

Small Builders and Remodelers

* Market Index Finds Home Remodeling Strong in Third Quarter

Housing Finance

* Senate Confirmation of Federal Housing Finance Board Director Applauded

Labor

* HBI Construction Academy Sees Spectacular Rise

Builders' Show

* Final Registration and Housing Deadline for IBS Is Dec. 17
* Learn About the Growing 50+ Market
* Alternative Construction Methods Take Center Stage
* Interactive Convention Session Focuses on Frost-Protected Shallow Foundations
* Show Activities Focus on Access Mexico and International Housing Opportunities
* Breakfast Honors the NAHB Associate of the Year
* Housing Industry Champions to Be Honored at Awards Breakfast
* Education Programs Geared to Small Builders and Remodelers
* OnSite Area the Place to Find How NAHB Membership Works For You
* Look for the Big Store at the Big Show
* Education Sessions and Exhibits Geared to Multifamily Builders
* Education Session to Highlight Advance of Zero Energy Home
* Walt Disney Imagineering Executive to Keynote EnergyValue Housing Award

Building News Coast To Coast

Association News & Events

* One Home at a Time, Mississippi Builder Putting Working Families on the Road to the American Dream
* Research Center Co-Founder Ralph Johnson Dies
* Find the Right NAHB Staff Faster Than Ever Online
* Calendar of Events

NBN Back Issues

 

NAHB Hits the Target on All of Its FHA Multifamily Legislative Goals

As this issue of Nation’s Building News went to press, President Bush was poised to sign the "American Dream Downpayment Act" into law — a measure that contains a provision giving FHA the ability to significantly raise mortgage insurance loan limits in high-cost areas

This marks the final segment of a four-part strategy to address builder concerns about the FHA Multifamily Mortgage Insurance program.

With this latest improvement, the HUD secretary will have the authority to raise the mortgage loan limits in high-cost areas by up to 140% of the program’s base limit (from the current limit of 110%). And on a project-by-project basis in high-cost areas, the HUD secretary will have the discretion to raise the maximum loan limit by up to 170%.

This will enable developers to more easily build rental housing in the nation’s most costly markets — areas that tend to be among those most in need of such housing.


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NAHB’s effort began in the fall of 2001 when it successfully persuaded Congress to raise the FHA Multifamily Mortgage Insurance program’s 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 NAHB’s approach to set insurance premiums that are reasonable and accurate.


Multifamily Leadership Board Conference Call — 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

Don’t 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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