Skip to main content

MBA raises concern over limit on mortgage interest deduction in federal budget

Feb 26, 2009

Statement from NLIHC President Sheila Crowley on the Obama Administration’s FY10 housing budgetMortgagePress.comObama Administration, National Low Income Housing Coalition, Sheila Crowley, Department of Housing and Urban Development, National Housing Trust Fund The Obama Administration released its budget blueprint for fiscal year 2010. This budget signals a refreshing and much-needed change of direction for the countrys housing policy, and offers hope for the millions of low income families who struggle to find decent homes they can afford. The budget request would increase funding for the Department of Housing and Urban Development to $47.5 billion, from the $41.5 billion in the House-passed FY09 omnibus spending bill. Given the housing crisis facing our nation's families, this increase to critical housing programs could not come at a more important time. NLIHC is especially pleased by inclusion in the budget of inaugural funding for the National Housing Trust Fund. The National Housing Trust Fund, signed into law as part of the Housing and Economic Recovery Act of 2008, will provide communities with funds to build, rehabilitate and preserve housing for people with the lowest incomes, and will be the first new federal housing production program to serve extremely low income families since 1974. The $1 billion in dedicated funding included in the Administrations budget request for the National Housing Trust Fund represents an important downpayment to a renewed national commitment to housing for all. President Obama has been a strong supporter of a National Housing Trust Fund during his tenure in the Senate and throughout his campaign. We appreciate that this support is reflected in his administration's first budget proposal. For more information, visit www.nlihc.org.
About the author
Published
Feb 26, 2009
Fed Holds Rates Steady As Economic Growth Stays Solid

Move comes amid mounting pressure, frustration from President Trump

Guild Mortgage To Go Private In $1.3B Deal With Bayview Asset Management

Guild to remain independent post-acquisition, strengthening national retail and servicing strategy

Jun 18, 2025
Rocket Pro And Vetted VA Join Forces

What started as a Facebook group now educates 100K+ veterans monthly — Vetted VA and Rocket Pro working to bring ethics, clarity to a broken system

Jun 17, 2025
MBA Urges Shift To Single Credit Report Model, Citing Cost Savings And Efficiency

MBA says tri-merge credit checks cost lenders up to $100 per loan, doubling since pre-COVID, as industry pushes for a cheaper, single-report model

Jun 16, 2025
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next