Congressman Pearce Votes to Improve Efficiency in Federal Housing Programs

Washington, DC – February 3, 2016 – (RealEstateRama) — Congressman Steve Pearce issued the following statement after the House passed H.R. 3700, the Housing Opportunity Through Modernization Act of 2016:

“This bill overhauls HUD to make it more efficient and effective as it works to achieve its missions. Since its creation 50 years ago, HUD has helped millions find safe and stable housing during times of need. Yet, at the same time, HUD has grown rife with inefficiencies and duplications that actively drive money away from HUD’s mission. This bipartisan legislation corrects that. These changes allow Congress to come together to ensure money in HUD is not directed to bureaucracy, but rather the American people. We are consistently working to make government effective and accountable. This measure is a step in that direction to remove bureaucratic red-tape and reform housing assistance for the 21st century,” said Congressman Pearce.

This bill reforms the public housing programs within the Department of Housing and Urban Development, as well as the Rural Housing Service programs within the Department of Agriculture to improve their effectiveness and provide enhanced opportunities for beneficiaries and the organizations that serve them. The bill streamlines the inspection protocol for rental assistance units, simplifies the income recertification for all assisted households, modifies Federal Housing Administration (FHA) requirements for mortgage insurance for condominiums, delegates rural housing loan approval authority, and provides limited flexibility between public housing operating and capital funds.

Contact: Megan Wells
Tel. 202-225-2365
Email: meganj.wells (at) mail.house (dot) gov