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The National Association of REALTORS® released statements Feb. 7 in support of presidential nominee former Rep. Lori Chavez-DeRemer (R-Ore.) as secretary of the Department of Labor and private equity firm CEO Bill Pulte as director of the Federal Housing Finance Agency. In expressing the association’s support for President Donald Trump’s nominees, NAR Chief Advocacy Officer Shannon McGahn highlighted key labor issues facing the housing industry, including worker shortages, independent contractor status and apprenticeships.
“As a small business owner, former mayor, and former member of Congress, Ms. Chavez-DeRemer is uniquely positioned to understand complex issues facing many workers, businesses and industries,” McGahn wrote.
In NAR’s letter of support for Pulte, McGahn underscored the important role the FHFA will play in addressing housing affordability and inventory: “A liquid financing market for mortgages, particularly the 30-year fixed-rate mortgage, must remain to build upon the foundations laid by previous FHFA directors. If now is indeed the time for reform of [Fannie Mae and Freddie Mac], maintaining a federal backstop for mortgage-backed securities is vital. And while the conservatorships have dragged past 16 years, there is great risk in rushing into any immediate solutions.”
Chavez-DeRemer’s confirmation hearing is scheduled for next Wednesday; the Senate Committee on Banking, Housing and Urban Affairs has not yet scheduled a hearing on Pulte’s confirmation.
The Senate on Wednesday confirmed former NFL player and Texas State Rep. Scott Turner, by a vote of 55-44, to head the Department of Housing and Urban Development.
The new secretary’s confirmation is welcome news to the association: NAR President Kevin Sears penned a letter of support for Turner’s confirmation in January. Sears emphasized Turner’s track record of promoting economic investment in distressed areas as the former executive director of the White House Opportunity and Revitalization Council during President Trump’s first term.
“Mr. Turner understands the key role that access to housing and homeownership plays in the health of individuals and communities and is well-positioned to respond to the needs of all HUD stakeholders,” McGahn said. “His work on the Opportunity Zone Program especially illustrates his commitment to finding economic opportunities for low-income communities to assist the individuals that live within them.”
HUD is a critical agency in the fight to secure affordable housing, with its FHA mortgage insurance program, voucher and multifamily programs aimed at renters, fair housing programs and more.
“NAR is eager to work with Mr. Turner to further HUD's mission to expand homeownership in America and create strong, sustainable communities,” McGahn said. “At a time when a national housing inventory shortage has contributed to an affordability crisis, HUD programs are more important than ever in helping Americans overcome barriers to affordable rental housing, sustainable homeownership, and the opportunity to create generational wealth.”
