NAHB Calls on Congree to Raise FHA Limits

[hausdok]

WASHINGTON, Sept. 17

The National Association of Home Builders (NAHB) today called on the U.S. House of Representatives to approve legislation this week that would allow the Federal Housing Administration to insure more home loans and address problems in the subprime mortgage market.

Underscoring the importance of this issue to the housing community, NAHB sent a letter to every House member urging them to support H.R. 1852, the Expanding American Homeownership Act of 2007, when the bill goes to the House floor later this week.

“Because this measure is so vital to restoring the FHA’s capacity to support affordable mortgage financing and to allow the agency to address problems in the subprime mortgage market, NAHB has designated passage of H.R. 1852 as a key vote,â€