Mayors, mortgage bankers partner for housing
The U.S. Conference of Mayors and the Mortgage Bankers Association of America (MBA) have announced a partnership to increase investment in the nation’s communities. The two organizations have created a Housing and Community Development Council to implement the partnership.
The council is charged with developing an agenda to stimulate private investment in projects to increase housing and employment. Over the next several months, councilmembers will meet to develop a legislative agenda and identify innovative housing and economic development investment opportunities.
“This initiative gives mortgage bankers the opportunity to join with mayors to further our mission of extending access to affordable housing and building healthy communities,” says MBA President Christopher Summer.
MBA’s commitment to the council is a result of its first National Homeowner Summit, which was held in November 1999. Summit participants representing business, government, academia and community groups identified a number of issues in need of further research, including: * demographics; * the expansion of the low-income tax credit; * linkage of housing finance with community and urban revitalization efforts; * the increasing role of technology in the real estate finance industry; and * the promotion of consumer education.
In addition to the project with the mortgage bankers, USCM’s Building Homes in America’s Cities initiative, a partnership between the mayors, the National Association of Home Builders and the U.S. Department of Housing and Urban Development, expects to build 1 million homes over the next 10 years. For more information on both programs, contactUSCM at (202) 293-7330.
