NAHB's Senior Officers and a cross-section of our members seized the opportunity this week to bring the builder's viewpoint regarding ongoing challenges in the housing market to two of the nation's most important policy-making organizations.
In a meeting on September 16with Fed Chairman Ben Bernanke and other top officials at the Federal Reserve Board, our members shared their first-hand accounts of the experiences they have had in trying to obtain financing for viable projects. They also voiced concerns about the impact that this problem continues to have on the fragile housing and economic recovery. The discussion was solely an information opportunity in which no promises were expected or received, but was nonetheless an important part of NAHB's outreach to every possible regulator, bank agency, and legislator who has the ability to help restore the flow of credit to our industry.
On the same day, NAHB Senior Officers met with leadership and staff of Fannie Mae to discuss a variety of topics, including appraisals, NAHB’s position on GSE reform, single- and multi-family mortgage credit availability, the housing outlook, and builder problems in obtaining AD&C financing. Fannie Mae's representatives expressed interest in working further with NAHB to develop improved appraisal and financing treatment for green building, and in hearing from NAHB multi-family members about financing challenges in different housing markets. Fannie Mae and NAHB agreed to continue to share information on emerging housing and housing finance issues.
NAHB members who attend this week's Fall Board of Directors meeting in New York will get an update on these important discussions, as well as on upcoming meetings with other key stakeholders in housing finance.