Call For Action – SUPPORT Housing Opportunity Through Modernization Act (H.R. 3700)

H.R. 3700 was passed by the U.S. House 427-0. Despite passing with NO OBJECTIONS, the U.S. Senate has not acted on H.R. 3700.

This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by:

• Removing a burdensome and expensive FHA Condo approval process
• Reducing FHA restrictions on the number of condos available to homebuyers
• Permanently streamlining Rural Housing Service loan processing

More Information on NAR’s efforts to pass H.R. 3700:

• Letter Urging the Senate to Pass H.R. 3700
• NAR testified last year in support of H.R. 3700 before the U.S. House Financial Services Subcommittee on Housing and Insurance. 
• House Passage Press Release