When it comes to revitalizing our industry, NAR uses all of its resources to pursue success for our members and to help the national economy thrive. That’s why we called in the “Big Guns” yesterday.
I travelled to Washington, D.C., on Tuesday to meet with the senior staff of Texas Senator Kay Bailey Hutchison. Nearly 20 Federal Political Coordinators (FPC) joined me in Washington to meet with their Senators. Other FPCs have been meeting with their Senators in their home offices over the past few weeks. (FPCs are REALTORS® who are liaisons between NAR and their members of Congress.)
We want the Senate to act soon on FHA reform to strengthen this vital program; make the GSE (Fannie and Freddie) and FHA loan limits permanent; and to secure a long-term solution for the National Flood Insurance Program.
If we want to be successful and to see our market recover sooner rather than later, we have to use all of our resources to make it happen. And our greatest resource is our members, who actually vote for these Senators.
How did the meetings go? All of the FPCs felt their meetings were extremely positive. Many of the Senators even thanked the FPCs for taking the time to come all the way to Washington and to meet with them personally.
I was extremely happy to talk about the National Flood Insurance Program with Sen. Hutchison’s staff. NFIP is a vital issue in Texas, as it is all across the country. I’m pleased that Sen. Hutchison supports efforts to extend NFIP.
We’re urging the Senate to pass the “Flood Insurance Reform Priorities Act of 2010.” While the bill isn’t perfect, it would extend NFIP through 2015.
If action isn’t taken soon, NFIP will expire on September 30th. That would make the third time it’s expired this year. We can’t keep letting this program get dangerously near to expiring—or letting it expire completely—and then giving it another short-term extension.
FHA reform and the GSE/FHA loan limits are also vital issues in our businesses. FHA is playing a large role in facilitating lending right now while private lenders have yet to return to the market. We must ensure that the FHA program is strong and financially secure for the long-run.
Also, in order to keep housing affordable for all families, we must also make permanent the higher mortgage loan limits for the GSEs and FHA. It would help keep housing costs down while money is still tight across America.
We called in our biggest resources yesterday because we’re working on big issues that matter to consumers and to members’ businesses. Our Big Guns did an amazing job! I want to remind everyone that your voice is just as vital as those who walked to Capitol Hill yesterday. So make sure you respond to the NAR Calls For Action emails when they arrive in your Inbox!
We will keep you posted on our progress as we continue to ask the Senate to act quickly on these issues. Brooke Hunt, 2010 NAR Vice President and Liaison to Committees