The
bill,
which
involves
a
wide
range
of
policy
approaches
to
address
housing
affordability,
including
provisions
to
boost
supply,
modernize
financing
options,
reduce
regulatory
barriers
and
promote
economic
mobility,

previously
passed
the
Senate
Committee
on
Banking,
Housing,
and
Urban
Affairs
in
July
with
a
unanimous
24-0
vote.

“Today,
the
Senate
took
a
historic
step
towards
addressing
our
nation’s
worsening
housing
crisis
and
bringing
down
costs
for
the
American
people
by
passing
the
bipartisan
ROAD
to
Housing
Act,”

Elizabeth
Warren
said
in

a
statement
posted
on
the
committee’s
website
Thursday.
“This
landmark
legislation
–
the
first
of
its
kind
in
more
than
a
decade
–
takes
important
steps
to
boost
the
nation’s
housing
supply,
improve
housing
affordability,
and
increase
oversight
and
efficiency
of
federal
regulators
and
housing
programs.
I
look
forward
to
working
with
my
colleagues
in
the
House
to
get
the
bill
to
the
President’s
desk.”

The


Mortgage
Bankers
Association‘s
CEO
and
President

Bob
Broeksmit
called
the
Senate’s
passage
of
the
ROAD
to
Housing
Act
“a
win
for
housing
affordability
and
consumers.”

“Many
of
the
provisions
within
the
bipartisan
measure
are
aimed
to
take
meaningful
steps
to
boost
housing
supply,
cut
red
tape
in
federal
program
offerings,
and
expand
access
to
affordable
mortgage
credit
for
families
nationwide,”
Broeksmit
added.

He
continued,
“As
the
bill
moves
to
the
House,
MBA
will
stay
fully
engaged
with
Congressional
leaders
in
both
chambers
to
strengthen
key
provisions
–
including
those
dealing
with
lender
liability
and
second
appraisals
–
to
ensure
the
final
package
delivers
meaningful
results
for
consumers,
lenders,
and
the
communities
they
serve.”

The


National
Housing
Conference
(NHC)
applauded
the

Senate’s
passage
on
Friday.
David
Dworkin,
president
and
CEO
of
NHC,
released
a
statement
regarding
several
of
the
bill’s
proposals.

“The
housing
affordability
crisis
has
impacted
every
community
in
America,
regardless
of
politics
or
geography.
We
are
grateful
to
Majority
Leader
John
Thune
(R-S.D.),
Minority
Leader
Chuck
Schumer
(D-N.Y.),
Senate
Banking,
Housing,
and
Urban
Affairs
Committee
Chairman
Tim
Scott
(R-S.C.),
and
Ranking
Member
Elizabeth
Warren
(D-Mass.)
for
their
leadership
in
ensuring
the
inclusion
of
the
ROAD
to
Housing
Act
in
the
Senate-passed
NDAA,”
Dworkin
wrote.

He
continued,
“The
ROAD
to
Housing
Act
includes
several
important
proposals
that
NHC
has
long
supported
or
endorsed,
including
the
PRICE
Act,
Whole-Home
Repairs
Act,
HOME
Investment
Partnerships
Reauthorization
and
Improvement
Act,
Choice
in
Affordable
Housing
Act,
and
Build
More
Housing
Near
Transit
Act.
The
package
also
includes
important
provisions
to
enhance
CDFIs,
including
the
CDFI
Bond
Guarantee
Program
Improvement
Act
and
the
Scaling
Community
Lenders
Act.”

Dworkin
also
urged
the
Senate
and

House
of
Representatives
to
keep
both
the
Community
Development
Financial
Institutions
(CDFIs)
provisions
and
the
ROAD
to
Housing
Act
in
the
final
version
of
the
legislation
as
each
group
reconciles
both
of
their
versions
of
the
NDAA.

Dennis
Shea,
executive
vice
president
of the
Bipartisan
Policy
Center’s
J.
Ronald
Terwilliger
Center
for
Housing
Policy,
lauded
the
vote.
“Today,
far
too
many
Americans
struggle
with
high
housing
costs.
It
was
gratifying
to
see
the
Senate
take
action
last
night
by
passing
the
bipartisan
ROAD
to
Housing
Act.
By
cutting
red
tape,
providing
critical
incentives
to
local
communities
to
spur
new
construction,
and
improving
access
to
affordable
manufactured
and
modular
housing
options,
the
bill
will
help
close
the
gap
between
housing
demand
and
supply.
That
mismatch
is
at
the
heart
of
today’s
housing
affordability
crisis.”