SOURCE: The National Association of Independent Housing Professionals (NAIHP)

The National Association of Independent Housing Professionals (NAIHP)

June 16, 2011 14:54 ET

NAIHP Asks Obama to "Suspend" Harmful Rules

WASHINGTON, DC--(Marketwire - Jun 16, 2011) - TheNational Association of Independent Housing Professionals (NAIHP) has asked President Obama to suspend several regulatory agency rules that have created harmful consequences for consumers and small business.

In a letter dated June 13, 2011, NAIHP President Marc Savitt told Mr. Obama, "As you are well aware, this country is experiencing the worst financial crisis since the Great Depression. While your Administration and Congress search to find a solution to our economic troubles, consumers and small business continue to struggle with Main Street consequences created by misguided government regulations."

The letter went on to say, "Since 2009, almost every housing rule, regulation, guideline and/or law designed to protect the consumer has ended up having the opposite effect. In the fragile housing finance market, consumer costs have increased substantially, including those with excellent credit. At the same time, fraud has risen sharply instead of declining. Moreover, underwriting guidelines have become so restrictive that well qualified borrowers are being denied financing."

According to Savitt, "NAIHP recommended an immediate suspension of certain rules, regulations and guidelines until the housing industry and economy recover. Once a recovery takes hold, GAO studies should be conducted to determine the necessity for renewed government intervention. Consumer protection would NOT be jeopardized as the rules in question have already been shown to be harmful."

NAIHP is the legislative and regulatory voice of small business housing professionals. Designed as a grassroots association, NAIHP has members in all 50 states.

For a copy of NAIHP's letter, go to www.naihp.org

Contact Information

  • Contact:
    Ian Coates
    202-587-9300