If you have trouble reading this email, please go to the online version. For a PDA-friendly version, click here.
May 2, 2014
Sponsored by

Quick Links

Senate Delays Vote on Johnson-Crapo Housing Finance Reform

Copyright: Philip Gangler

Congress returned to Washington after the two-week spring recess with many on the Hill focused on the scheduled markup of the Johnson-Crapo housing finance reform legislation. However, the Senate Banking, Housing and Urban Affairs committee delayed the markup of the legislation shortly after it began on Tuesday, with a goal of shoring up additional votes and reconvening within the next couple of weeks.

“While I do not relish the idea of a short delay, I am pleased that a number of Senators believe with just a brief period of additional time to consider it, they will have the opportunity to productively join us in efforts to reform the current system,” said Ranking Member Senator Mike Crapo, R-Idaho, co-author of the bill.

NMHC/NAA testified last fall at legislative hearings that were designed to inform certain aspects of the bill and have been consistently involved in both the drafting of the legislation and related negotiations.  We have been pleased with the resulting multifamily provisions in the bill.  The current negotiations are largely focused on issues in the bill unrelated to multifamily, however, some attention is being paid to affordability, which we continue to monitor.

David Cardwell, NMHC vice president of capital markets, was recently quoted in an article on the legislation’s multifamily provisions. “The bill preserves the liquidity provided by the GSEs,” said Cardwell.  “Everyone is generally pleased with it and the response from members of Congress and members of the [multifamily] industry has been positive.”  For all the details on the multifamily provisions, please see this NMHC/NAA analysis of the Johnson-Crapo bill.  

It is important to note that NMHC/NAA joined forces in April with a coalition of our industry partners on an ad campaign highlighting our support for housing finance reform and bipartisan efforts that will, ultimately, help both America’s renters and homeowners.  The ad appeared in a host of key publications, including The Washington Post, Politico, The Hill and CQ Roll Call.

SHARE: Twitter Facebook LinkedIn Email
NMHC Insider
NMHC Chairman Daryl Carter: A "Sterling" Perspective

This week, NMHC Chairman Daryl Carter used Donald Sterling’s recent comments as an opportunity to look at our industry and see how we are adapting to the growing diversity around us.

Read More
SHARE: Twitter Facebook LinkedIn Email
HUD Fair Housing Meeting Seeks to Clarify Legitimate Rental Practices

NMHC and NAA members met with HUD Acting Assistant Secretary for Fair Housing Bryan Greene on April 30 to discuss multifamily industry concerns regarding the Discriminatory Effects Standard Final Rule issued in February 2013. At the meeting, our members expressed concerns about the uncertainty created by the rule in relationship to the potential risk of liability for what have been considered legitimate business practices.  They include practices such as criminal background checks that are used by the industry to ensure resident safety and the viability of multifamily housing.

Read More
SHARE: Twitter Facebook LinkedIn Email
Defense Authorization Bill Protects Core Military Housing Benefit

A key House Subcommittee rejected a Department of Defense (DoD) proposal this week to cutback the Basic Allowance for Housing (BAH), a core military benefit that compensates service members for their housing costs.  However, this is a preliminary achievement as Congress is just beginning to authorize defense programs and spending for the coming year through the annual National Defense Authorization Act.

Read More
SHARE: Twitter Facebook LinkedIn Email
Apartment Industry Urges Congress to Address Patent Abuse

Real estate has been the target of wide-ranging patent infringement allegations by so-called "patent trolls" that have threatened meritless legal action for the unlicensed use of patented products or technologies, including WiFi, digital transactions and web-based platforms, and moisture prevention construction practices, among other things. This abuse has led Congress to take action.

Read More
SHARE: Twitter Facebook LinkedIn Email
Hill Watch
House Judiciary Hearing on the Comcast-Time Warner Cable Merger, Thurs., May 8
Brookings Event: FHFA Director Watt to Speak on Future of Fannie and Freddie, Tues., May 13
Media Roundup
Energy Efficiency Bill Gaining Momentum in Senate
Bloomberg BNA
The Minimum Wage Bill Just Failed in the Senate. Now What?
National Journal
Obama's "Big Data" Report Calls for New Privacy Laws
The Hill
FHFA: Fannie, Freddie Will Not Require Another Bailout
Don't "Reform" Fannie Mae, Rethink Housing Policy
Fiscal Times
Boehner Revises Immigration Crack as Advocates See Potential
Bloomberg News
Senator Chuck Schumer: Immigration Bill Will Get Signed Into Law This Year
Washington Times
The Scoop

Which Celebs are Attending This Weekend’s “Nerd Prom”?
This weekend’s annual White House Correspondence Dinner – a.k.a. Nerd Prom – will once again blend Hollywood’s beautiful and famous with Washington’s stodgy and wonky elite. But which celebrities made the cut for the event that will be emceed this year by “Community” television show star Joel McHale?

Read More

Contact Us

1850 M Street, NW, Suite 540,
Washington, D.C. 20036-5803

202 974 2300 Office

Manage Subscriptions
Privacy Policy

©National Multifamily Housing Council. All Rights Reserved.