SOTU Prompts Positive Reactions from Industry Groups

by devteam February 14th, 2013 | Share

Several players in the housing andrnlending sectors found things to like in President Obama’s State of the Union Speech</bon Tuesday and issued statements supporting some of his proposals.  MND has so far received statements fromrnthe National Association of Home Builders (NAHB), the American Institute ofrnArchitects (AIA) and the Center for American Progress (CAP).</p

NAHBrnChairman Rick Judson said thernnation’s home builders were very pleased to hear President Obama acknowledge thernextremely tight mortgage credit conditions that are hampering the housingrnrecovery and hurting job growth.  “Buildingrn100,000 homes creates 300,000 full-time jobs. With the right policies in place,rnhousing can continue to lead the economy forward,” he said.</p

NAHB “stands ready to work with thernAdministration, Congress and regulators to ease restrictive lendingrnrequirements so that qualified home buyers can obtain affordable home loans andrnto open up the lines of credit for home builders so they can meet growingrndemand in communities across the nation.”</p

AIA President Micke Jacob said “The AIA isrnencouraged that the president discussed cutting energy use and creating jobs inrnthe process. In particular we are supportive of granting federal support tornstates that come up with the best ideas to lower energy bills by constructingrnmore energy efficient buildings.  This isrnan issue that architects have championed, and we are prepared to help statesrnand anyone else<br /answer that challenge.<br /<br /"Meanwhile, we call on the President and Congress to retain incentives thatrnallow small businesses to hire and which conserve energy in commercial andrngovernment buildings. <br /<br /Julia Gordon, CAP’s Director of Housing Finance and Policy welcomed thernPresident’s comments regarding the importance of assisting homeowners and hisrnsupport for additional refinancing programs.  “Allowing more underwater homeowners tornrefinance their mortgages at today’s low rates will support the housingrnrecovery, provide much-needed financial relief to strapped homeowners, andrnboost consumer demand, simultaneously strengthening the middle class andrnstimulating economic growth.”</p

“Furthermore, we agree with the president that mortgage regulationsrngoverning lenders and securitizers should line up with each other to avoidrnconstraining access to affordable credit.</p

She also supported his call to rebuild hard-hit neighborhoods.  “Effective loan modifications, particularlyrnprincipal reduction, can prevent home vacancies altogether, but in situationsrnwhere that is not possible, short sales or long-term lease arrangements canrnhelp limit the damage to communities.”

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of is prohibited.

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

See all blogs


Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...