NLIHC Slams Effort to Defund National Housing Trust Fund – NMP Skip to main content

NLIHC Slams Effort to Defund National Housing Trust Fund

Apr 29, 2015
Congress

The National Low Income Housing Coalition (NLIHC) is calling on members of Congress to reject the proposed appropriations bill for Transportation, Housing and Urban Development, and Related Agencies (THUD), stating that it would bring “serious damage to federal housing programs that aid some of the poorest and most vulnerable families in the nation.”

The NLIHC raised its concern that the appropriations bill would direct all funding for the National Housing Trust Fund (NHTF) into the HOME Program and prohibit Congress from putting any other money into the NHTF. The group also stated that the bill would cut HOME appropriations to $767 million from its current $900 million level and lower the expenditures for project-based rental assistance by $276 million. Furthermore, the group claimed the bill would cut the federal Housing for Persons with Disabilities program to the point that no new housing units would be created under this program in the coming fiscal year.

“The House THUD bill released today expresses a callous disregard for the plight of millions of Americans who labor in the low wage workforce and still cannot find modest housing they can afford to rent,” said Sheila Crowley, president and CEO of the NLIHC. “It ignores the shortage of affordable housing for poor seniors and people with disabilities. A U.S. House of Representatives that could pass a bill like this while cutting taxes for corporations and wealthy people is one that is out of touch with the American people want from their government.” 

About the author
Published
Apr 29, 2015
Insuring The Risk To Lenders At Closing

Traditional protections like title insurance and closing protection letters may leave lenders exposed to significant settlement, funding, and fraud-related losses

CHLA Uses Trump Mortgage Order To Renew Push For LO Comp Reform

Community lenders want more flexibility over employee compensation, closing-cost estimates, down payment assistance, and federal supervision of smaller IMBs

Servicers Begin Testing Systems Ahead of VA Partial Claim Deadline

VA lenders and servicers have until Nov. 28 to implement the new loss mitigation waterfall and Partial Claim Program

ROAD Act’s Housing Incentive May Be Too Small To Move Supply

Realtor.com finds the median city risks losing only about $84,000, although the policy could carry more weight in supply-starved Northeast and Midwest markets

CRA Proposal Could Reshape Bank Lending And Affordable Housing Investment

The OCC and FDIC would put more weight on lending while easing community development requirements for hundreds of banks

Fannie Mae AI Governance Deadline Arrives Aug. 6

Seller/servicers using artificial intelligence in origination or servicing must have formal policies, oversight, and vendor controls in place