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Legislation

Colorado’s Drive It Home financing kicks off with affordable condos

Affordability, Affordable housing, Architecture, Housing Inventory, HWmember, Legislation, Policy, The Builder's Daily /

A small condominium project in Denver’s West Colfax neighborhood may be the best evidence yet that Colorado’s housing reforms are producing real results. The Colorado Housing and Finance Authority this month closed a $5.7 million low-interest construction loan for Wolff Street Flats, a 23-unit affordable for-sale development by Osina Development and Modus Real Estate. It […]

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Nest Egg Protection Act would raise capital gains tax exclusion for senior home sellers

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Rep. Nicole Malliotakis (R-N.Y.) has introduced federal legislation that would temporarily raise the capital gains tax exclusion to $1 million for senior homeowners who sell their longtime primary residences. The move aims to ease tax burdens on older Americans and free up inventory for younger homebuyers. The bill, H.R. 9064, known as the Nest Egg

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Social Security, Medicare solvency could be examined by bipartisan commission

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Legislation under consideration in Congress would create a bipartisan commission of experts tasked with developing long-term reform options for Social Security and Medicare. Rather than advancing immediate policy changes, the panel would study the financial outlook for the programs and submit recommendations for lawmakers to consider. The proposed Commission on Sustaining Medicare and Social Security

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Poll: Americans want Congress to act on lowering housing costs

Affordability, Bipartisan Policy Center, Congress, Housing Policy, HWmember, Institutional investors, Legislation, The Builder's Daily /

Housing is a top political priority for Americans, and voters overwhelmingly support federal action to address housing affordability, according to a new poll from the Bipartisan Policy Center.  The poll found that 83% of voters believe that Congress should take action to make housing more affordable. Meanwhile, 89% of respondents agree that the House of

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Bill targets Social Security earnings limits as retirement trends shift

Affordability, Aging in Place, Baby Boomer, HWmember, Legislation, Mortgage, Retirement, Reverse, Social Security /

A proposal in Congress to eliminate a rule that reduces Social Security benefits for working retirees comes as more Americans rethink what retirement looks like and opt for flexible, phased transitions instead of a hard stop. The Senior Citizens’ Freedom to Work Act, introduced by Sen. Rick Scott (R-Fla.) and Rep. Greg Murphy (R-N.C.), would

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How two LOs helped champion proprietary reverse mortgage legislation in Tennessee

HWmember, Legislation, Mortgage, Nashville, Reverse, Reverse Mortgage Daily, Tennessee /

Proprietary reverse mortgages have gained a lot of traction over the past year and now account for more industry volume than federally insured Home Equity Conversion Mortgages (HECMs). With the help of loan officers Nathan Guerrero and Jackson Matheson, Tennessee will soon join the list of states to allow private-label reverse mortgages. Guerrero, a reverse

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Maine enacts first state law to regulate home equity investments

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Maine Gov. Janet Mills this week signed LD 1901, making Maine the first state to enact comprehensive consumer protections for home equity investments (HEIs), which the new law defines as “shared appreciation mortgage loans.” The bill, titled “An Act to Regulate Shared Appreciation Agreements Relating to Residential Property,” establishes guardrails around a growing class of

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Kentucky housing reform bill collapses in final hours

Housing Inventory, Kentucky, Legislation, Policy, Politics, Short-Term Rental, The Builder's Daily, Zoning /

Republican lawmakers in Kentucky sought to put the state on the housing reform map with sweeping legislation to boost construction and curb rising costs. But the package collapsed in the final hours of the state’s legislative session this week, and housing advocates warn the state’s housing shortage will deepen without swift action. Kentucky’s failure shows

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New York joins states seeking to regulate private listing networks

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New York has joined the growing list of states exploring legislation designed to govern the use of private listing networks for residential real estate listings.  In mid-March, Assemblywoman Michaelle Solages introduced the “Fair and Transparent Real Estate Listings Act,” which has since been referred to the committee on judiciary.  If passed, the bill would require

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Virginia cities gain new tools to increase affordable housing supply

Affordability, Affordable housing, Homebuilders, HWmember, Legislation, Policy, The Builder's Daily, Virginia, Zoning /

For Virginia state Sen. Jeremy McPike, the third attempt was the charm for a bill that lets municipalities rezone to encourage affordable housing. It just took a new governor. Gov. Abigail Spanberger signed into law this week a measure giving every city and county in Virginia the authority to adopt an affordable housing program, marking

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