With the ongoing issue of the affordable housing crisis, the Mortgage Bankers Association got behind the Build More Housing Near Transit Act, a bipartisan bill introduced in the House of Representatives.
The MBA signed a letter of support to the legislation introduced by Reps. Scott Peters, D-Calif., and Cathy McMorris Rodgers, R-Wash., joining 15 other industry and consumer trade groups, including Habitat for Humanity,
The bill would change the rating criteria for how new transit projects get funded by the federal Transit Administration and require housing feasibility assessments, prioritizing commitments to market-rate and affordable housing. The lack of affordable housing is most apparent closest to city centers where transit is abundant.
"This shortage of homes means families are paying more for rent,
Recent answers to close the affordable housing gap include
"Our bill will maximize federal investment in transit and increase housing options for families across the country," Rep. Peters said in a press release. "On top of that, we can