Legislation would Remove Lending Barriers for Home Builders

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Posted To: MND NewsWire

Representatives Gary Miller (R-CA) and Carolyn McCarthy (D-NY) have introduced legislation to increase the access of homebuilders to credit . HR 1255, The Home Construction Lending Regulatory Improvement Act of 2013, addresses specific regulatory obstacles to the credit needed by builders for home building projects. The text of the bill introduced on Tuesday is not yet available through the Library of Congress but is said to be identical to HR 1755 introduced by Miller in the 112 th Congress. That bill required the appropriate federal banking agencies to coordinate rulemaking for banks that make real estate loans to home builders. Its provision s would : Eliminate the 100 Percent of Bank Capital Measurement so that regulators could no longer prohibit a qualified financial institution that holds...(read more)

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Source: http://www.mortgagenewsdaily.com/03202013_home_builders_lending.asp

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