Nation's Building News Online

FHA Multifamily Mortgage Insurance Receives Another Reprieve in Congress

Thanks to a Herculean effort on the part of NAHB and other concerned industry organizations, the House and Senate last week both passed, by unanimous consent, a measure giving the Federal Housing Administration the authority to continue to commit funds through its Multifamily Mortgage Insurance Program.

That program’s authority had been set to expire last fall, and Congress had passed interim measures to allow it to continue. But the last of those ran out on Dec. 5 and the agency’s authority to commit funds expired.

In just days, NAHB persuaded both houses of Congress to take action to ensure that HUD would have sufficient authority to continue the program until Jan. 31. By that time, the pending HUD appropriation is expected to have passed as part of an Omnibus Appropriations bill, which will allow the program to continue for the remainder of the fiscal year.

The program will be back up and running as soon as it receives a final okay from the Office of Management and Budget.

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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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