Washington Report

Advocacy Updates from Washington D.C.

Senators Menendez (D-NJ), Scott (R-SC), Coons (D-DE), and Blunt (R-MO) have introduced S. 3083, a companion to H.R. 3700, the "Housing Opportunities through Modernization Act”.  This bill is virtually identical to HR 3700, which passed the House with a unanimous vote of 427-0 last month. The bills contain provisions to ease FHA restrictions on condo sale and purchase; provides permanent authority for direct endorsement for approved lenders to approve Rural Housing Service loans; and makes reforms to federally assisted rental housing programs to streamline the program. NAR is urging Senators to cosponsor S. 3083, and then bring the bill (HR 3700) to the Floor expeditiously.

NAR letter to Senate on HR 3700

NAR testimony on HR 3700

NAR Condominium Resource Book