MBA Statement on the House Passage of the FY 2024 Funding Package

WASHINGTON, D.C. (March 6, 2024) — MBA’s President and CEO Bob Broeksmit, CMB, issued the following statement on the passage of six fiscal year 2024 budget bills, which includes funding for the Department of Housing and Urban Development (HUD), Veterans Affairs (VA), and the Department of Agriculture (USDA):

“MBA is pleased the House has passed a spending package that includes important funding to support single-family and multifamily housing markets and consumers. 

“We especially support the government spending to boost homeownership opportunities and affordable rental housing. This includes a much-needed increase in funding for Ginnie Mae salaries and expenses, dedicated funding for Federal Housing Administration (FHA) IT modernization, backing for homeownership counseling, requiring HUD to take actions to increase FHA multifamily lending for new construction and rehabilitation, and $100 million in grants to encourage localities to remove legal and regulatory barriers that impede housing development.

“We also agree with the VA language regarding the need to provide timely payment relief to distressed Veteran homeowners and will continue to call on Congress to authorize and fund a permanent partial claim program.

"MBA encourages the Senate to pass this spending package before March 9th to ensure the continuity of critical government home lending programs and operations.”