The National Association of Home Builders (NAHB) has expressed support of President Donald Trump’s actions to roll back the Dodd-Frank Act.

As Daily Business News readers are aware, President Trump signed an Executive Order to begin the rollback process that will direct the Treasury secretary to review the 2010 Dodd-Frank financial oversight law, which reshaped financial regulation after the 2008-09 financial crisis.

“Dodd-Frank is a disaster,“ said Trump, during a meeting last week with small business owners, including NFIB President and CEO Juanita Duggan. 

“We’re going to do a big number on Dodd-Frank.”

“NAHB commends President Trump on his announcement to reform regulations in the Dodd-Frank Act that have hampered our nation’s housing recovery and slowed economic growth,” said NAHB Chairman Granger MacDonald.

“We support common-sense regulations to protect American consumers and preserve our nation’s banking system, however, the tight lending conditions created by Dodd-Frank are preventing too many home builders from receiving loans and restricting mortgage financing to credit-worthy borrowers.”

The Daily Business News, MHProNews and MHLivingNews have covered Dodd-Frank and its impact on the manufactured housing industry extensively, including the Consumer Financial Protection Bureau (CFPB). Their impact on affordable housing has, in essence, created a “Renter’s Nation”.

Don Glisson, CEO of Triad Financial Services, has a very intimate understanding of the impacts both agencies have on the industry.

“Our compliance costs have quadrupled in the past three years alone,” said Glisson.

“We are the answer to the country’s affordable housing issues, but we don’t get fair treatment at the federal level. There are no MH dwellers inside the Beltway, so we must not be a good housing choice in their eyes. Government is taking sides and it’s harming the very middle-class they profess to want to help.”

MacDonald has a similar line of thinking.

“Regulatory relief for mortgage lenders and small and mid-sized banks that serve their communities is critical for the nation’s housing recovery,” said MacDonald.

“NAHB has been calling for reduced regulatory burden on real estate lending since Dodd-Frank’s passage in 2010.” ##

(Image credits are as shown above.)

Submitted by RC Williams to the Daily Business News for MHProNews.