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Posted Date: Thursday, March 21, 2024
In a hearing where the U.S. Senate Committee on Banking, Housing, and Urban Affairs examined proposals to address housing affordability, availability, and other community needs, senators asked witnesses from The Heritage Foundation, Local Initiatives Support Corporation, and the Center on Budget and Policy Priorities questions about expanding housing supply, addressing regulatory boundaries, and reducing mortgage costs.
In his opening statement, Committee Chair Sherrod Brown (D-Ohio) highlighted actions the committee has taken so far, such as calling for the Federal Reserve to lower interest rates and sponsoring bills that target housing-prohibitive zoning laws.
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Posted Date: Monday, March 4, 2024
At a field hearing at the Rockland County Legislature in New York City, New York, the House Committee on Financial Services’ Subcommittee on Housing and Insurance heard from witnesses on how market challenges have resulted in inaccessible and unaffordable housing options.
“Housing has already been too expensive, and now inventory is limited,” Subcommittee Chairman Warren Davidson (R-Ohio) said in his opening statement. “Lawmakers’ response is to force mandates, which sounds good on paper, but ends up hurting affordability and availability for residents most in need.”
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Posted Date: Friday, February 16, 2024
In a hearing titled, “Sink or Swim? A deep dive into the current state of VA’s home loan program in a competitive market,” the chair of the House Committee on Veterans’ Affairs Subcommittee on Economic Opportunity Oversight expressed concern about the Department of Veterans Affairs’ (VA) ability to effectively administer the Veterans Affairs Servicing Purchase program.
“The road to hell is paved with good intentions,” Rep. Derrick Van Orden (R-Wis.) said after VA Executive Director, Loan Guaranty Service John Bell provided his opening statement. “I’m concerned that you do not have the authority statutorily in the governing statutes for the home loan program, and that you are simply making this up.”
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Posted Date: Monday, February 5, 2024
The Senate Subcommittee on Housing, Transportation and Community Development heard testimony from three witnesses on the promises and threats artificial intelligence (AI) poses in the housing sector.
National Fair Housing Alliance President and Chief Executive Officer Lisa Rice, Urban Institute Non-Resident Fellow of the Housing Finance Policy Center Vanessa Perry, and SolasAI Partner and Artificial Intelligence Practice Leader Nicholas Schmidt shed light on how AI is being currently being used and what AI legislation should focus on in the coming years.
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Posted Date: Thursday, February 1, 2024
Representatives from both sides of the aisle asked Department of Housing and Urban Development Secretary Marcia Fudge about how the agency is fulfilling its statutory mission, and what Congress can do to help.
“The support of this committee is critical to ensuring that every American has a roof over their head and the ability to live in strong and resilient communities,” Fudge said.
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Posted Date: Thursday, December 7, 2023
The House Subcommittee on Housing and Insurance heard testimony from industry experts, including U.S. Mortgage Insurer’s Seth Appleton, about how private industry and government programs can work to address the affordable housing crisis.
Representatives followed witness statements with questions about policy solutions, regulatory barriers, and manufactured homes.
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Posted Date: Thursday, September 14, 2023
The Senate Committee on Banking, Housing, and Urban Affairs’ Subcommittee on Housing, Transportation and Community Development heard testimony and recommendations about housing supply and innovation in efforts to address low housing inventory.
Witnesses were from the Brookings Institution, Neighbors for More Neighbors, Invest Newark, and Fading West Development.
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Posted Date: Friday, June 30, 2023
In separate sessions over two days, Consumer Financial Protection Bureau Director Rohit Chopra testified in front of the Senate Committee on Banking, Housing, and Urban Affairs and the House Financial Services Committee in the agency’s semi-annual report to Congress.
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Posted Date: Monday, June 19, 2023
During the Consumer Financial Protection Bureau’s semi-annual report to the House Financial Services Committee, its director Rohit Chopra fielded questions from representatives on the bureau’s publication of interpretive guidance and advisory opinions.
The representatives accused the agency of legislation “by blog post,” which Chopra repeatedly denied.
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Posted Date: Thursday, June 15, 2023
Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified in front of the Senate Committee on Banking, Housing, and Urban Affairs in the agency’s semi-annual report to Congress.
While the session largely concerned “junk fees” and the bureau’s data breach, Chopra also shared information about what the CFPB is doing to combat zombie mortgages, redlining, and a possible recession.
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