Housing organizations turn to ROAD implementation

Housing organizations continue to celebrate the enactment of the 21st Century ROAD to Housing Act (ROAD) while shifting their attention toward implementation of the sweeping new law. Several groups have published overviews of the package that highlight provisions related to affordable housing and community development, organizational capacity, manufactured housing, rural housing, and other priorities.

The National Housing Conference’s Housing Supply Working Group will be convening in August to begin broad consultations with stakeholders and practitioners to identify high priority implementation benchmarks and begin drafting model regulations to assist the U.S. Department of Housing and Urban Development (HUD). Nearly half of the actions in the bill are directed to be completed within one year. Although the deadlines are not binding, they underscore the priority Congress placed on implementing the law quickly.

A new roadmap from the National Association of Affordable Housing Lenders (NAAHL) offers an initial guide to the law’s implementation. The report highlights the considerable role of HUD, which will lead 88 of the law’s 124 implementation actions. The U.S. Department of Agriculture is the second-most frequently named agency, with responsibility for 17 actions. Nearly half of the actions are directed to be completed within one year. Although the deadlines are not binding, they underscore the priority Congress placed on implementing the law quickly.

The National Low Income Housing Coalition (NLIHC) released its own report emphasizing ROAD’s potential impact on households with low incomes. NLIHC identified changes to the Housing Choice Voucher program, rural housing programs, and disaster recovery as key implementation priorities. The report also highlights provisions that will directly affect current residents, including an expansion of HUD’s Family Self-Sufficiency program, changes to income calculations for veterans participating in the HUD-Veterans Affairs Supportive Housing program, and grants to install temperature sensors in assisted properties to better address resident health and comfort.

Other housing groups continue to emphasize the need for timely regulatory guidance. A coalition of multifamily housing organizations sent a letter to the U.S. Treasury Department seeking clarification of the Build-to-Rent (BTR) exception to ROAD’s restrictions on large institutional investors purchasing single-family homes.

“Members of our organizations are putting BTR investments on hold until they receive assurances regarding how Treasury will interpret the statutory language, as they are specifically concerned that an incorrect reading of the Act may make the ability to purchase BTR communities following an initial sale impermissible,” the letter reads.

ROAD’s bipartisan enactment now turns attention toward a purposeful and informed implementation process. Continued engagement among federal agencies, lawmakers, and housing stakeholders will be critical to ensuring the law expands housing supply, strengthens existing programs, and avoids unintended barriers to investment and development.

Regulators direct lenders to consider immigration-related credit risk



The Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and National Credit Union Administration issued joint guidance directing institutions to account for perceived risks of lending to borrowers who are not legally authorized to work in the United States. The agencies said uncertainty surrounding a borrower’s ability to maintain employment, continue earning income, or remain in the country may create elevated credit risks affecting mortgages, credit cards, auto loans, and other forms of credit. The guidance implements a May executive order from President Trump following continued pressure of the Administration to tighten immigration enforcement.

The guidance does not prohibit lending to borrowers without work authorization, as federal law does not prohibit banks from serving undocumented immigrants, but instructs lenders to incorporate immigration-related risks into operational processes. Some financial institutions expressed hesitation over enhanced status reporting, arguing that banks are not immigration officers and that excessive checks of customers are unduly burdensome.

For mortgage lending, the agencies pointed to a June Consumer Financial Protection Bureau statement explaining that creditors must make a reasonable, good-faith determination of a borrower’s ability to repay under the Truth in Lending Act. The statement also notes that the Equal Credit Opportunity Act permits lenders to consider immigration status when assessing repayment and available remedies. The new guidance could consequently narrow access to mortgage credit for undocumented borrowers and others whose employment authorization is uncertain, even when they have established income and repayment histories.

Scott urges Fed to prioritize affordability

Senate Banking Committee Chairman Tim Scott (R-S.C.) urged Federal Reserve Chairman Kevin Warsh to keep affordability at the center of monetary policy during Warsh’s first monetary policy hearing since taking the helm at the central bank. Scott emphasized that the Fed’s decisions affect household finances through mortgage payments, credit card bills, and the availability of business and consumer loans. He also called on the central bank to protect its independence by remaining focused on its statutory responsibilities of achieving maximum employment and stable prices.

Scott highlighted the relationship between interest rates and housing affordability, noting that congressional efforts to increase housing supply cannot fully overcome elevated borrowing costs. Scott also called for appropriately tailored bank capital requirements as the Fed develops the Basel III Endgame and other regulatory changes.

“Economic activity is expanding at a solid pace, showing resilience in the face of recent developments. Household consumption growth is moderate, and manufacturing output has moved up steadily this year. The housing sector, however, strikes a different note. It gives a different picture and continues to lag,” Warsh stated, before moving on to tout a surge in capital expenditures and investment in artificial intelligence.

HUD’s Innovative Housing Showcase to highlight American technology

HUD announced the theme for its sixth annual Innovative Housing Showcase as "Made in America," highlighting domestic innovations designed to expand housing supply, reduce construction costs, and make homeownership more attainable.

The free, public event will take place Sept. 22–24, on the National Mall in Washington, D.C., as part of the nation's Freedom 250 celebration. The showcase will bring together builders, manufacturers, policymakers, and housing leaders to explore emerging technologies and construction methods that can help address the nation's housing challenges.



Attendees will have the opportunity to tour full-sized prototype homes and experience interactive exhibits.

HUD is currently accepting applications from exhibitors showcasing innovative housing technologies, building products, and construction methods.