[David] Alright, let’s get over to Alice. You’ve got some updates here for us. Got some things the HUD’s trying to do.
[Alice] Yes. So hopefully you can hear me okay, Dave?
[David] Yeah, we are.
[Alcie] I wanted follow up Adam DeSanctis from the MBA’s report brought up the house bill 6644. The title for it is the bill to increase the Supply of Housing in America and for other purposes. And this does align with the senate bill that we’ve talked about. I think for this report, I just wanted to zero in on just a little more detail of what it really means. It’s five different titles, has lots of stuff going on it, so I think I’ll spread this out over a couple of shows so people can hear a little bit of what’s going on actually within the bill. I think if I went at the 5,000 foot level, for me it starts to try and change HUD’s mindset into being more of, let’s make things easy. Let’s set guidelines first that states can follow and local municipalities can follow to ease up zoning requirements, ease on building requirements. Have those stakeholders involved in that discussion on what it would take to make things easier and publish guidelines that states and local municipalities can use as opposed to the article that’s gonna be repealed, which will all be in favor of, is more of oversight reporting mindset. So I think if I, my summary in reading it is. That’s the direction now, Dave, before the show, you asked a great question, is this really going to move the needle on the housing supply? And ultimately the answer’s probably no, it’s not, millions of billions of dollars thrown into housing because the bill itself doesn’t talk about any funding. It does talk, and again, I’m just in title one, it talks about authorizing some grant funds, but those would have to follow in a separate bill for the house to appropriate. So I think it’s definitely in the right direction on what its goals are, but then there’s a lot of follow up from this for this as the, public and us on the show to make sure and actually see if it gets implemented. But HUD’s got a five-year window to put the plan together. So as you see how quickly is there gonna be an impact? That alone tells you how far out that might be before it has any impact. So it definitely might get some news time of people talking about, oh, we approved a housing policy improvement but you won’t feel it at the local level for years to come. Even then it’ll still be local decision makers because the bill doesn’t require them to do anything. It just set, it’s designed to set guidelines for them to follow. There’s no federal requirements on that, so we’ll watch it and we’ll report more on it next week. Dave?
[David] Yeah, I think there’s so many factors that go into increasing the housing supplies, increasing housing affordability. There’s so many aspects of it, but hey, we’ll take anything that can help in any little area they may sum up in total good stuff. But it was encouraging. They’re working on it. But it does seem to me like as we come up in midterms, those are great statements. Hey, look what I did here. I put this forth and all that. So it seems a little political.
[Alice] Yeah, it feels a little bit like that. Yeah. You just get something on the board. Yeah. Yep.
[David] Very good. Thank you, Alice. Anything else going on in the world of legislation?
[Alice]It’s quiet right now. It is, we’re coming up onto our quiet season. I think that’s why we’ll watch these bills. And I think this is a example of a bill right out of the gate. It’s got a 38% prospect of passing, which is unusual. Usually they all start about 1%. It’s a Republican and two Democrats that are bringing it forward. So it’s got bipartisan support right out of the gate. So it may make its way through, but not much else expected as the holiday starts to come closer. Yeah. Or here, actually, we’re in Hanukkah now. We’re So the holidays are here.
[David] Yeah, they’re here full swing. Yes, for sure. Thank you Alice. Appreciate safe travel.
[Alice] Happy Hanukah to those who are on
[David] Yeah. Happy Hanukkah to our wonderful Jewish friends listening very good. Thank you very much. Good stuff. Say hi to Andy. Who’s driving? All right. Good job
Alice Alvey, Master CMB
She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.
Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.
She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.
Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!