CAPE MAY — Christina Clemans, regional vice president for Region II for the National Association of Realtors® and past president of the New Jersey Association of Realtors® was among more than 8,000 Realtors® in Washington, D.C., this week advocating to keep housing first on our nation’s public policy agenda during the 2011 Midyear Legislative Meetings & Trade Expo.
Clemans also met with members of New Jersey’s Congressional delegation to discuss today’s real estate challenges.
While at the conference, Realtors® focused on the impact of the 112th Congress and how its agenda will impact the real estate industry, including lawmakers plan to reform Fannie Mae and Freddie Mac, potentially limiting mortgage availability and accessibility and possibly reducing the mortgage interest deduction.
“Homeownership is the cornerstone of a healthy and flourishing community,” stated Clemans. Homeownership also acts as a powerful economic engine, driving the national, state and local economies. As the leading advocate for the real estate industry and private property owners, Realtors® from New Jersey traveled to Washington D.C. to reaffirm our belief in homeownership and to let our representatives know we are committed to keeping housing a priority in the halls of Congress.”
While in our nation’s capital, Clemans met with several members of New Jersey’s congressional delegation to discuss pressing issues, such as preserving the mortgage interest deduction, ensuring mortgaging financing by opposing recent Qualified Residential Mortgages (QRM) regulations that do not follow the intent of the Dodd-Frank Wall Street Reform and Consumer Protection Act and protecting higher Federal Housing Administration loan limits.
“In an area like the Garden State where, unfortunately home prices are high, increased loan limits open the door to homeownership for more of our residents. It also helps more people refinance into less expensive, more secure loans. Keeping the higher FHA loan limits is critical to our state,” Clemans added.
During the conference, there were also several presentations given that provided insight on the condition of the current real estate market. Assistant Secretary of Fair Housing and Equal Opportunity for the Department of Housing and Urban Development, John D. Trasvina, presented the state of the multicultural real estate markets.
CNBC real estate reporter, Diana Olick moderated a symposium about mortgage liquidity. Panelists, including David H. Stevens, former Federal Housing Administration Commissioner and incoming president and chief executive officer for the Mortgage Bankers Association of America, offered perspectives on the current state of the industry and identified challenges impacting the availability and accessibility of mortgage financing.
“The National Association Realtors® of Midyear Legislative Meetings was a tremendous opportunity to express our views on the real estate industry and the impact decisions being made on Capitol Hill have on it. It also provided a vital information about the housing market from some of the most respected experts in the country,” concluded Clemans.
