Bill Would Remove Construction Lending Barriers

Washington, DC, March 21, 2013 -- Bipartisan legislation has been introduced to help home builders gain access to construction loans.

Reps. Gary Miller (R-Calif.) and Carolyn McCarthy (D-N.Y.) sponsored a bill that would address specific regulatory obstacles to the credit needs of the nation's home builders.

In many housing markets where demand is increasing and the supply of new homes remains near record-lows, builders still cannot obtain construction loans because credit remains very tight in the aftermath of the housing downturn.

The bill would remove barriers to lending while preserving the regulators' ability to assure the safety and soundness of the financial institutions they oversee, according to the National Association of Home Builders.



Other Archived Articles

Philly Manufacturing Continues to Expand   Full Article
Philadelphia, PA, Oct. 16, 2014 -- The October Manufacturing Business Outlook Survey indicated continued growth in the Philadelphia region’s manufacturing sector this month.

Builder Confidence Declines in October   Full Article
Washington, DC, Oct. 16, 2014 -- After four consecutive monthly gains, home builder confidence fell five points this month to a level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index.

Industrial Production Rebounds in September   Full Article
Washington, DC, Oct. 16, 2014 -- Industrial production rose 1% in September, the Federal Reserve said.

Jobless Claims Lowest in Over 14 Years   Full Article
Washington, DC, Oct. 16, 2014 -- Initial claims for unemployment benefits last week were the lowest in more than 14 years, according to the Labor Department.

WFCA Taking Entries for Gold Standard Award   Full Article
Anaheim, CA, Oct. 16, 2014 -- The World Floor Covering Association is accepting entries for the annual Gold Standard Award.

Foreclosure Activity at Pre-Bubble Levels   Full Article
Irvine, CA, Oct. 16, 2014 -- Foreclosure activity last month hit the lowest level since July 2006, according to tracking firm RealtyTrac.

Business Inventories Rise Less Than Expected   Full Article
Washington, DC, Oct. 15, 2014 -- U.S. business inventories rose less than expected in August, according to the Commerce Department.

Producer Prices Decline in September   Full Article
Washington, DC, Oct. 15, 2014 -- Producer prices in the U.S. fell in September for the first time in more than a year, according to the Labor Department.

New York Area Manufacturing Slows in October   Full Article
Washington, DC, Oct. 15, 2014 -- Manufacturing in the New York region expanded at a much slower pace in October, according to the New York Federal Reserve.

Retail Sales Decline in September   Full Article
Washington, DC, Oct. 15, 2014 -- U.S. retail sales fell more than expected in September, following the biggest gain in four months in August, according to the Commerce Department.

Mortgage Applications Up on Lower Rates   Full Article
Washington, DC, Oct. 15, 2014 -- Mortgage application volume rose 5.6% last week from the previous week as interest rates fell, according to the Mortgage Bankers Association.

Florim Opens Showroom in Moscow   Full Article
Moscow, Russia, Oct. 15, 2014 -- Tile company Florim said it has opened a new flagship store in Moscow.

Retirement Fund Files Suit Against Lumber Liquidators   Full Article
Toano, VA, Oct. 14, 2014 -- Lumber Liquidators is facing a class action law suit brought by the City of Hallandale Beach, Florida, Police Officers' and Firefighters' Personal Retirement Trust, according to the Virginia Gazette.

UFloor Systems Signs Western Distributor Big D   Full Article
Aurora, CO, Oct. 14, 2014 -- UFloor Systems has signed Big D Floor Covering Supplies to distribute its Uzin subfloor preparation products.

Mannington Raising VCT Prices in January   Full Article
Salem, NJ, Oct. 14, 2014 — Mannington Mills said it will raise prices by 4% on all of its vinyl composition tile products effective Jan. 5.

Armstrong Issues Third Quarter Warning   Full Article
New York, NY, Oct. 14, 2014 -- Armstrong World Industries became the second public flooring company to issue a third quarter profit warning.

WFCA Names New Leader of Northwest Association   Full Article
Anaheim, CA, Oct. 13, 2014 -- The World Floor Covering Association has named Tish Gasparich leader of the WFCA’s Affiliate Flooring Association Northwest(FAN).

Horizon Forest Products Moves Richmond Offices   Full Article
Richmond, VA, Oct. 13, 2014 -- Horizon Forest Products moved its Richmond offices to 4820 Eubank Road in the Interport Business Center.

Share of Custom Homes on the Decline   Full Article
Washington, DC, Oct. 13, 2014 -- New NAHB research reveals significant regional differences in the share of custom homes started in 2013.

Self's To Distribute Novalis LVT in Midwest   Full Article
Toronto, Canada, Oct. 13, 2014 -- Wichita, Kansas-based Self’s, Inc. will now distribute luxury vinyl flooring made by Novalis Innovative Flooring.