NAR "Put Homeownership First!"

[Cynthia Elder]

The National Association of Realtors is requesting the FHA to more heavily scrutinize the loans they issue in order to protect communities from absentee landlords and to push for more involvement of other local area entities in the decision of who to issue loans to.

Check out some of the language below in the NAR's request. I'd love to hear your thoughts!

" Arrange loan sales in small, manageable numbers in limited geographical
areas, utilizing the expertise of local businesses, including contractors, real
estate brokerage firms and property managers, and non-profits.
 Set aside pools of loan sales for non-profits and other community partners
while prioritizing sales of open loan pools to entities with demonstrated
interest in a given community.
 Review investor-purchaser plans for conflicts of interest that could lead to harmful outcomes, such as an
investor’s financial interest or other business connection to a large-scale rental housing entity or home auction
platform.
 Compel investors to prioritize sales to owner-occupants following foreclosure in order to promote
neighborhood stabilization and support prosperity in the respective community.
 Require that the secondary sale of any loan by an initial investor-purchaser to another investor must prioritize
home sales to owner-occupiers.
 Ensure the release of performance and outcome data for each pool of loan sales, as well as the demographic data
on the sales."