{"id":58875,"date":"2024-09-19T03:03:37","date_gmt":"2024-09-19T01:03:37","guid":{"rendered":"https:\/\/housesmarketplace.com\/republican-senators-introduce-bill-to-expand-federal-oversight-of-housing-programs\/"},"modified":"2024-09-19T03:03:37","modified_gmt":"2024-09-19T01:03:37","slug":"republican-senators-introduce-bill-to-expand-federal-oversight-of-housing-programs","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/republican-senators-introduce-bill-to-expand-federal-oversight-of-housing-programs\/","title":{"rendered":"\u0421\u0435\u043d\u0430\u0442\u043e\u0440\u044b-\u0440\u0435\u0441\u043f\u0443\u0431\u043b\u0438\u043a\u0430\u043d\u0446\u044b \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u0438\u043b\u0438 \u0437\u0430\u043a\u043e\u043d\u043e\u043f\u0440\u043e\u0435\u043a\u0442 \u043e \u0440\u0430\u0441\u0448\u0438\u0440\u0435\u043d\u0438\u0438 \u0444\u0435\u0434\u0435\u0440\u0430\u043b\u044c\u043d\u043e\u0433\u043e \u043d\u0430\u0434\u0437\u043e\u0440\u0430 \u0437\u0430 \u0436\u0438\u043b\u0438\u0449\u043d\u044b\u043c\u0438 \u043f\u0440\u043e\u0433\u0440\u0430\u043c\u043c\u0430\u043c\u0438"},"content":{"rendered":"<div>\n<p><a href=\"https:\/\/www.housingwire.com\/tag\/republican-party\/\" target=\"_blank\" rel=\"noreferrer noopener\">Republican<\/a> members of the <a href=\"https:\/\/www.housingwire.com\/tag\/senate\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>U.S. Senate<\/strong><\/a> have introduced new legislation designed to expand the oversight of federal housing programs, make changes to loan officer compensation for the origination of small-dollar mortgages, and create additional counseling requirements for homebuyers.<\/p>\n<p>The <a href=\"https:\/\/www.banking.senate.gov\/imo\/media\/doc\/roadtextfinal.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Renewing Opportunity in the American Dream (ROAD) to Housing Act<\/a> is spearheaded by key Republican members of the Senate Banking Committee. These include ranking member Tim Scott (S.C.), as well as Mike Crapo (Idaho), Mike Rounds (S.D.), Bill Hagerty (Tenn.), Cynthia Lummis (Wyo.), Katie Britt (Ala.), Kevin Cramer (N.D.) and Steve Daines (Mont.).<\/p>\n<p>\u201cThis legislation is the result of negotiations with stakeholders and follows feedback on [Scott]\u2019s legislative framework, discussion draft, and multiple full committee hearings on legislative solutions to challenges in housing,\u201d Scott\u2019s office said in an <a href=\"https:\/\/www.scott.senate.gov\/media-center\/press-releases\/scott-introduces-comprehensive-housing-legislation\/\" target=\"_blank\" rel=\"noreferrer noopener\">announcement<\/a> of the bill.<\/p>\n<p>Scott\u2019s office also said that the bill aims to provide a \u201ccomprehensive\u201d view of federal housing policy by introducing \u201clong-needed\u201d reforms and deemphasizing down payment assistance that has been <a href=\"https:\/\/www.housingwire.com\/articles\/harris-makes-housing-affordability-a-key-campaign-issue\/\" target=\"_blank\" rel=\"noreferrer noopener\">a rallying cry for Democrats<\/a>. Instead, the goal is to focus on congressional oversight and changes to LO compensation.<\/p>\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" width=\"586\" height=\"773\" data-attachment-id=\"482130\" data-permalink=\"https:\/\/www.housingwire.com\/articles\/republican-senators-introduce-bill-to-expand-federal-oversight-of-housing-programs\/sentimscott_portrait\/\" data-orig-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/09\/sentimscott_portrait.jpg\" data-orig-size=\"586,773\" data-comments-opened=\"1\" data-image-meta='{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\"}' data-image-title=\"sentimscott_portrait\" data-image-description=\"&lt;p&gt;Official U.S. Senate portrait of Sen. Tim Scott (R-S.C.).&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Sen. Tim Scott&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/09\/sentimscott_portrait.jpg?w=227\" data-large-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/09\/sentimscott_portrait.jpg?w=586\" tabindex=\"0\" role=\"button\" src=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/09\/sentimscott_portrait.jpg?w=586\" alt=\"Official U.S. Senate portrait of Sen. Tim Scott (R-S.C.).\" class=\"wp-image-482130\" style=\"width:200px\" srcset=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/09\/sentimscott_portrait.jpg 586w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/09\/sentimscott_portrait.jpg?resize=114,150 114w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/09\/sentimscott_portrait.jpg?resize=227,300 227w\" sizes=\"auto, (max-width: 586px) 100vw, 586px\"><figcaption class=\"wp-element-caption\">Sen. Tim Scott<\/figcaption><\/figure>\n<p>\u201cFamilies deserve reliable access to a responsibly regulated housing market,\u201d Scott\u2019s office said. \u201cOur federal housing programs require greater oversight from Congress to ensure that they are operating in a safe and sound manner. The ROAD to Housing Act aims to ensure the households who utilize federal housing programs have greater access to tools which enhance financial literacy and improve economic opportunity.\u201d<\/p>\n<p>The bill also contends that housing assistance programs from the <a href=\"https:\/\/www.housingwire.com\/tag\/hud\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>U.S. Department of Housing and Urban Development<\/strong><\/a> (HUD) do not provide localized assistance. These programs \u2014 particularly in relation to federally subsidized properties \u2014 \u201chave historically concentrated poverty and limited the economic mobility of residents,\u201d the announcement stated. <\/p>\n<p>\u201cHomeless assistance programs have similarly failed to deliver the results we need, with the total number of homeless individuals at the highest levels ever recorded.\u201d<\/p>\n<p>Republican senators also contend that assistance is prevented from reaching those who need it due to bureaucratic processes tied to federal assistance programs. They argue that \u201cassisted housing programs lack robust oversight,\u201d partially due to lawmakers\u2019 \u201climited visibility to measure whether they truly assist the low-income families they are intended to support.\u201d<\/p>\n<p>The bill would review regulatory burdens on costs and \u201cdelays in the supply of affordable housing,\u201d while also \u201crethink[ing] how agencies collect and analyze data to help policymakers better understand if programs are working.\u201d It would also expand congressional oversight of HUD\u2019s management of the Mutual Mortgage Insurance (MMI) Fund.<\/p>\n<p>Additional congressional oversight of HUD could stem from consistent Republican critiques that agency leaders \u2014 most recently former HUD Secretary <a href=\"https:\/\/www.housingwire.com\/tag\/marcia-fudge\/\" target=\"_blank\" rel=\"noreferrer noopener\">Marcia Fudge<\/a> \u2014 have not appeared before Congress to update the legislative branch on HUD\u2019s progress in meeting its goals.<\/p>\n<p>In one of her final official appearances before Congress this past January, <a href=\"https:\/\/financialservices.house.gov\/news\/documentsingle.aspx?DocumentID=409107\" target=\"_blank\" rel=\"noreferrer noopener\">Fudge was castigated<\/a> by Rep. Patrick McHenry (R-N.C.), the chairman of the House Financial Services Committee, for her lack of appearances before Congress.<\/p>\n<p>In a <a href=\"https:\/\/newslink.mba.org\/mba-newslinks\/2024\/september\/mba-newslink-tuesday-sept-17-2024\/mba-advocacy-update-bob-broeksmit-tv-appearance-fed-vice-chair-barr-recommends-mba-supported-basel-iii-changes-more\/\" target=\"_blank\" rel=\"noreferrer noopener\">message to its members<\/a> this week, the <a href=\"https:\/\/www.housingwire.com\/company\/mortgage-bankers-association\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Mortgage Bankers Association<\/strong><\/a> (MBA) said it is engaged with Scott\u2019s office on the bill, and any path forward will be determined by the partisan makeup of the Senate in 2025.<\/p>\n<p>\u201cThe bill, long in the works, is intended to be a marker for Sen. Scott\u2019s initial engagement on housing policy should Republicans win a Senate majority in November \u2013 and should he, as expected, become the Chair of the Senate Banking Committee,\u201d the MBA stated. \u201cGiven that the bill has been introduced with no Democratic co-sponsors, any legislation considered in the 119th Congress on housing policy would involve negotiations, changes, and additional policy provisions.<\/p>\n<p>The bill marks a relatively substantive contribution by Republicans to the topic of housing during the 2024 election cycle. While the presidential campaigns of both President <a href=\"https:\/\/www.housingwire.com\/tag\/joe-biden\/\" target=\"_blank\" rel=\"noreferrer noopener\">Joe Biden<\/a> and Vice President <a href=\"https:\/\/www.housingwire.com\/tag\/kamala-harris\/\" target=\"_blank\" rel=\"noreferrer noopener\">Kamala Harris<\/a> have made housing issues <a href=\"https:\/\/www.housingwire.com\/articles\/could-kamala-harris-ambitious-housing-plan-actually-pass-maaaybe\/\" target=\"_blank\" rel=\"noreferrer noopener\">a key priority<\/a> for the Democratic platform, Republican nominee <a href=\"https:\/\/www.housingwire.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noreferrer noopener\">Donald Trump<\/a> has tended to tie housing to the larger issue of immigration when electing to <a href=\"https:\/\/www.housingwire.com\/articles\/harris-touches-on-housing-topics-in-presidential-debate\/\" target=\"_blank\" rel=\"noreferrer noopener\">comment on housing at all<\/a>.<\/p>\n<p>Democratic lawmakers have also been active this week with respect to housing legislation. Rep. Alexandria Ocasio-Cortez (N.Y.) and Sen. Tina Smith (Minn.) on Wednesday <a href=\"https:\/\/www.housingwire.com\/articles\/house-senate-democrats-introduce-bill-to-preserve-build-homes\/\" target=\"_blank\" rel=\"noreferrer noopener\">introduced their own bill<\/a> that has a stated goal of building and preserving <a href=\"https:\/\/www.housingwire.com\/tag\/affordable-housing\/\" target=\"_blank\" rel=\"noreferrer noopener\">affordable housing,<\/a> including through a repeal of the Faircloth Amendment.<\/p>\n<p>They also seek to create a new national housing development authority to provide an \u201calternative to a market dominated by corporations and investors with deep pockets,\u201d according to a description of the bill provided to <strong>HousingWire<\/strong>. Like Scott\u2019s bill, however, it lacks bipartisan support, according to initially-released details.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Republican members of the U.S. Senate have introduced new legislation designed to expand the oversight of federal housing programs, make changes to loan officer compensation for the origination of small-dollar mortgages, and create additional counseling requirements for homebuyers. The Renewing Opportunity in the American Dream (ROAD) to Housing Act is spearheaded by key Republican members [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-58875","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Republican senators introduce bill to expand federal oversight of housing programs - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/republican-senators-introduce-bill-to-expand-federal-oversight-of-housing-programs\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Republican senators introduce bill to expand federal oversight of housing programs - Houses Marketplace\" \/>\n<meta property=\"og:description\" content=\"Republican members of the U.S. Senate have introduced new legislation designed to expand the oversight of federal housing programs, make changes to loan officer compensation for the origination of small-dollar mortgages, and create additional counseling requirements for homebuyers. 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