Washington Report

Advocacy Updates from Washington D.C.

NAR Opposes the PATH Act

NAR sent two letters to the House of Representatives this week urging against cosponsoring Rep. Joe Hensarling’s (R-TX) housing finance reform bill, H.R. 2767, the Protecting American Taxpayers and Homeowners (PATH) Act.  While NAR supports housing finance reform, the letters, one solely from NAR and one from a coalition of industry groups, point out the major flaws in the PATH Act which could actually hinder American families’ access to quality homeownership and rental options, and hurt job growth.

The main concerns about the PATH Act center on its lack of an explicit federal guarantee and its dramatic restructuring of FHA and its proposed targeting of FHA’s mission.  A federal guarantee is critical to ensuring stability in housing finance markets and the continued availability of 30-year fixed rate mortgages for qualified buyers.   FHA has already begun and continues to make changes to address the problems it has experienced, and the type of restructuring proposed in the act will not help it; what FHA needs is the authority to undertake reforms needed to strengthen its financial footing.  NAR will continue to advocate for housing finance reform that promotes responsible, sustainable home ownership and does not endanger the future of this critical economic sector.

NAR's Letter

Coalition's Letter

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.