Housing Policy Counsel – Definition

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Housing Policy Council Definition

The Housing Policy Council (HPC), created in 2003, is a non-profit organization based in Washington D.C. that lobbies for the interests of member companies in the mortgage and housing businesses. Ed DeMarco, former acting director of the Federal Housing Finance Agency, currently heads the HPC.

A Little More on What is the Housing Policy Council

The Financial Services Roundtable, itself a special interest group of the financial services sector, laid the foundation for the HPC in 2003. The HPC is involved with housing and mortgage-related matters such as bank modernization, government-sponsored enterprise reform, the Home Mortgage Disclosure Act, data reporting, low-income housing tax credit, mortgage interest deductions and mortgage revenue bonds.

The Financial Services Roundtable came into being in 1993 as the Bankers Roundtable, as a result of the merger between two associations – the Association of Reserve City Bankers and the Association of Registered Bank Holding Companies. The group was finally rechristened in 2000 and adopted a policy of a considerably broader focus on the banking industry. At present, the group is actively involved in activities pertaining to the housing industry, including mortgage lending.

The HPC and the HOPE NOW Alliance

The Housing Policy Council played a significant role in the formation of the HOPE NOW Alliance, a coalition that came into being to put a check on mortgage foreclosures triggered by the subprime mortgage market collapse of 2007-08. Investors, consultants and mortgage services all formed part of this new alliance. As a countermeasure to stop snowballing mortgage defaults in the aftermath of the 2008 recession, the Alliance began reaching out to homeowners who were struggling on their payments. It offered them perquisites such as free counseling by counselors authorized by the U.S. Department of Housing and Urban Development. In less than a year since its formation, the HOPE NOW Alliance helped upwards of 1 million homeowners in avoiding foreclosure.

The strong connection between the Housing Policy Council and the Financial Services Roundtable resulted in the alliance having close relationships with major banking institutions. Moreover, the induction of several officials from major financial organizations into the roundtable’s board of directors created the impression that the alliance was more involved in finding ways to minimize losses resulting from flawed underwriting than actually facilitating mortgagors, who often ended up with irreconcilable repayment plans.

References for Housing Policy Council

Academic Research on the Housing Policy Council (HPC)

Building a New Private Sector Secondary Mortgage Market: An Analysis of the Proposal by the Housing Policy Council, Sivon, J. C. (2012). Hamline L. Rev., 35, 415.

Reforming the FHA’s Foreclosure and Conveyance Processes, Kaul, K., Goodman, L., McCargo, A., & Hill, T. (2018). ¬†This paper addresses how the Federal Housing Administration (FHA) foreclosure and conveyance processes can be changed to bring down costs and create efficiencies. With proprietary data provided by Collaborative members, the paper explores foreclosure related costs and processes for FHA-insured loans. The paper concludes that the current FHA foreclosure and property disposition processes result in avoidable delays, costs, and losses for HUD and servicers that are eventually passed on to neighborhoods and consumers in the form of depressed property values, neighborhood blight and reduced access to FHA credit for future borrowers.

Evaluating the integration and use of automated housing supply mointoring systems for municipal housing policy and administration, Lin, Z. (1991).  (Doctoral dissertation, Massachusetts Institute of Technology).

Public¬†housing¬†delivery strategies in Nigeria: A historical perspective of¬†policies¬†and programmes, Ademiluyi, I. A. (2010).¬†Journal of sustainable development in Africa,¬†12(6), 153-161. This paper explores the condition of housing provisions in Nigeria by the government since her independence in 1960. The paper attempts to show an overview of the housing delivery strategy taken by government in Nigeria over the years, revealing that Nigeria’s impressive housing policies and programs are rarely implemented or haphazardly implemented. The paper suggests that urgent steps need to be taken to bring about the much needed improvement and transformation in the Nigerian housing sector. It also advises the government to back up its many lofty initiatives and efforts with necessary political will and commitment through different measures.

Low income residential housing delivery in osogbo, Osun state, Nigeria, Ankeli, I. A., Dabara, D. I., Joseph, O., Adeleye, O., & Agidi, O. M. (2016).. In Conference of the International Journal of Arts & Science (Vol. 9, No. 1, pp. 15-28). This paper examines the challenges of low income residential housing delivery in Osogbo Metropolis, Osun State, Nigeria with a view to developing a structure that will help in alleviating low income housing problem in the state. Osogbo Metropolis was divided into four residential zones. The paper adopts survey research design to determine the challenges confronting low income group. Data obtained from both primary and secondary sources were analyzed using descriptive and inferential analytical techniques. The study reveals that, the state government has done little or nothing in the area of low income housing delivery.

The Case for Uniform Mortgage Servicing Data Standards, Kaul, K., Goodman, L., McCargo, A., & Hill, T. (2018). The Case for Uniform Mortgage Servicing Data Standards. This paper discusses the benefits that would accrue to consumers and servicers if uniform data standards were adopted for exchanging mortgage servicing data. The paper views servicing data standards as a long term investment and urge all stakeholders to resume working towards it.

AN OVERVIEW OF HUMAN SETTLEMENT IN NIGERIA: A RAY OF HOPE FOR THE SLUM DWELLERS?, Aigbavboa, C., & Thwala, W. (2011, July). In WEST AFRICA BUILT ENVIRONMENT RESEARCH (WABER) CONFERENCE 19-21 July 2011 Accra, Ghana (p. 167).

Residential rehabilitation: a case study of housing rehabilitation in the southside I neighborhood, Columbus, Ohio, Windle, D. K. (1994).  (Doctoral dissertation, The Ohio State University).

ASSESSMENT OF HOUSING QUALITY OF SELECTED RESIDENTIAL ESTATES IN LAGOS STATE, NIGERIA, Babalola, D. O. (2016). ASSESSMENT OF HOUSING QUALITY OF SELECTED RESIDENTIAL ESTATES IN LAGOS STATE, NIGERIA (Doctoral dissertation, Covenant University, Nigeria.).

Housing Committee Recommends Procedures, Love1J, J. Housing Committee Recommends Procedures.

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