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Solutions for Affordable Housing
December 7, 2023 8:00 am - 5:00 pm EST
On Dec. 7, the National Housing Conference (NHC) held its Solutions for Affordable Housing hybrid convening in Washington, D.C. Nearly 500 housers from across the country came together in person and virtually to discuss the nation’s most pressing housing issues while focusing on tangible, impactful, and achievable solutions.
Attendees heard from a diverse group on panels, focusing on a wide range of timely topics, including the influence of climate on housing insurance, housing concerns within the Asian American, Native Hawaiian, and Pacific Islander communities, multifamily housing challenges, special purpose credit programs, mortgage servicing tactics to support families in keeping their homes, modernizing the Housing Choice Voucher program, and the interplay between institutional investors, community needs, and government policies in the single-family rental market.
White House National Economic Advisor Lael Brainard opened the convening by discussing the Biden Administration’s housing agenda, which is focused on “increasing the availability of housing that Americans can afford, lowering costs for homebuyers, and lowering costs and promoting competition and fairness for renters.”
The changing climate has significantly exacerbated the housing insurance crisis, reshaping the risk landscape for single-family homeowners, multifamily stakeholders, and insurers alike. Increasing occurrences of extreme weather events such as hurricanes, wildfires, and flooding have led to a surge in property damage claims, straining insurance companies’ financial capacities. Insurance premiums have risen dramatically as a result, making coverage less affordable and sometimes inaccessible, particularly for those in high-risk areas. Panelists explored the intricate interplay between climate shifts and housing insurance challenges while discussing innovative solutions to safeguard homeowners and bolster the insurance industry’s resilience.
Michael Butchko, NeighborWorks® America
Peter Carroll, CoreLogic – Slides
Thom Amdur, Lincoln Avenue Communities – Slides
Nicole Bachaud, Zillow
Attendees got the chance to learn about the multifaceted issues surrounding housing within the Asian American, Native Hawaiian, and Pacific Islander communities (AANHPI). This panel brought together experts, advocates, and community leaders to shed light on the unique challenges faced by AANHPI individuals and families in securing safe and affordable housing. From cultural nuances to systemic barriers, attendees explored the intersection of race, housing policy, and community dynamics, offering insights and potential solutions to address these pressing concerns.
John Wong, Asian Real Estate Association of America
Linna Zhu, Urban Institute – Slides
Bryan Greene, National Association of REALTORS®
Hyepin Im, Faith and Community Empowerment – Slides
Angie Liou, Asian Community Development Corporation
Federal Housing Finance Agency (FHFA) Director Sandra Thompson spoke with NHC Board of Governors Chair Steve O’Connor during a fireside chat. Alongside addressing the nationwide affordable housing shortage, Thompson discussed recent political disagreements around loan-level price adjustments (LLPAs) being tied to loan-to-value (LTV). She also updated attendees on FHFA’s recent actions regarding credit scoring and its comprehensive review of the Federal Home Loan Bank System.
Special Purpose Credit Programs (SPCPs) have emerged as a vital tool to dismantle barriers and extend fair credit access. Beyond the realms of traditional credit offerings, SPCPs serve as a dynamic force for change, addressing historical inequities and channeling resources to underserved communities. Panelists discussed implementation, legal frameworks and challenges, success stories, and the future potential of SPCPs in reshaping the financial landscape for a more equitable tomorrow.
Barry Wides, Office of the Comptroller of the Currency
Suzanne Garwood, JP Morgan Chase & Co.
Keith Bickel, Bank of America
Ewunike Brady, Wells Fargo
Vanessa Owens, TD Bank
Oneshia Herring, National Fair Housing Alliance
In the evolving landscape of affordable housing solutions, the Housing Choice Voucher program stands as a cornerstone of support for vulnerable communities. Experts discussed pivotal next steps for the Housing Choice Voucher program, delving into visionary strategies that usher it into a new era of effectiveness and inclusivity, while also sharing innovative approaches—ranging from streamlining administrative procedures and improving portability to accommodating evolving requirements of diverse populations—to maximize the program’s impact. While celebrating their successes, panelists also addressed persistent challenges like housing supply shortages, ensuring equitable access, and fostering partnerships with landlords.
Larry Keys, National Affordable Housing Management Association – Slides
Yilla Smith, Virginia Housing – Slides
Bruce Dorpalen, National Housing Resource Center – Slides
LaKeeshia Fox, Living Cities
As housing markets evolve and expand, the role of institutional investors has gained prominence, reshaping the dynamics of real estate investment. On one hand, institutional investors can inject capital and expertise into real estate markets, spurring development, innovation, and financial stability. On the other hand, concerns regarding housing affordability and displacement may arise from their influence. Through engaging discussions, our panelists dissected the intricate interplay between investor interests, community needs, and government policies. From revitalizing neighborhoods to potential risks of market impact, this session offered attendees a comprehensive exploration of the impact of institutional investors on housing.
Ali Solis, S3 Strategic Solutions
John O’Callaghan, Atlanta Neighborhood Development Partnership
Panelists shared best practices, insights into borrower empowerment, and innovative strategies for keeping individuals and families in their homes during challenging times. By addressing the unique needs of diverse communities and collaborating with stakeholders, this session sought to reshape the narrative of mortgage servicing as a proactive force for housing stability.
Theresa Dumais, Freddie Mac
David Battany, Guild Mortgage
Gisele Roget, Overbrook Square Group
Eileen Tu, Rocket Mortgage
As the housing crisis continues to command national attention, senior staffers from the Senate Committee on Banking, Housing, and Urban Affairs and House Financial Services Committee shared their insights on navigating the legislative and regulatory landscape in 2024 and beyond, stressing that “there is always opportunity for bipartisanship.”
Solutions for Affordable Housing wrapped up the day with a presentation on the game-changing 3by30 Mortgage Calculator, accessible at www.3by30.org, by NHC’s senior policy associate, Erika Ramirez. 3by30.org, is an initiative created by the Black Homeownership Collaborative to reach 3 million net new black homeowners by 2030.
Pam Patenaude, Former Deputy Secretary, U.S. Department of Housing and Urban Development
Dana Wade, House Financial Services Committee
Megan Cheney, United States Senate Committee on Banking, Housing, and Urban Affairs
Networking Reception and Wi-Fi Sponsor