"The Senate overwhelmingly passed the 21st Century ROAD to Housing Act in an 89-10 vote on Thursday, advancing a sweeping bipartisan bill aimed at boosting housing supply and addressing affordability challenges nationwide. Congress has not passed such a comprehensive housing package in more than a decade."
"The bill combines the House-passed Housing for the 21st Century Act (H.R. 6644) with the Senate's ROAD to Housing Act (S. 2651). The package includes 18 provisions drawn from the House and Senate bills, along with at least 26 sections from previously introduced bipartisan legislation."
"Industry groups pointed to several positive elements in the legislation, including provisions designed to boost housing supply, streamline federal housing programs, expand access to small-dollar mortgage lending, and support manufactured and modular housing. But they raised concerns about language requiring institutional investors to sell newly constructed build-to-rent homes within a set time frame."
The Senate passed the 21st Century ROAD to Housing Act with an 89-10 vote, marking the first comprehensive housing package in over a decade. The legislation combines the House-passed Housing for the 21st Century Act with the Senate's ROAD to Housing Act, incorporating 18 provisions from both chambers plus 26 sections from previously introduced bipartisan bills. The package addresses housing supply and affordability through provisions supporting small-dollar mortgage lending, manufactured and modular housing, and streamlined federal programs. However, industry groups including MBA, CHLA, and NHC identified concerns requiring revision: restrictions on institutional investors selling newly constructed build-to-rent homes within set timeframes, drafting errors in FHA multifamily loan limit language, and mandatory foreclosure mitigation counseling for government-backed loans at 30-day delinquency. The bill now proceeds to the House before presidential consideration.
#housing-supply-and-affordability #build-to-rent-regulations #fha-multifamily-lending #bipartisan-housing-legislation
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