September 19, 2021

MP Now News

Mortgage News

Six-month long backlog holding back 100s of affordable housing projects

“(Construction) costs are increasing. And one of the things MBA has focused on is how do we enact appropriate zoning laws that will allow us to build more affordable, high-density housing in cities?

Flood, who is also responsible for leading public policies for affordable housing lenders, said he understands the challenges both the HUD and Minister Fudge are facing.

“I give her a lot of credit because we have to remember that the HUD is not a company. When it gets access to companies, it can’t just send a “We’re putting it up – they have to get money from the government.”

Among the proposed solutions, the group suggested using additional resources from the contractor to supplement the workload of HUD insurers; Redistributing workloads across regions to meet demand; and in the long term to get the HUD to strike a balance between fixed and contracted resources to ensure adequate staffing.