Debate Over Affordable Housing Proposal Heats Up

Housing, lender and consumer groups are asking the Department of Housing and Urban Development for more time to evaluate the HUD's proposed affordable housing goals for Fannie Mae and Freddie.The comment period on the affordable housing goals ends July 2, and the groups in a joint letter are asking for a 60-day extension. National Association of Home Builders chief executive Jerry Howard said the coalition of lender and real estate groups, consumer and low-income housing advocates, as well as state and local government organizations want to improve the HUD proposal. "We think the GSEs have to do more affordable housing," he said. However, HUD's proposal is very complex and "we need more time" and data to analyze it. NAHB would like the two government-sponsored enterprises to receive bonus points for rural housing, inner-city core housing and small suburban multifamily projects. At present, the HUD proposal does not provide bonus points that target specific underserved markets.