Mortgage industry advocates welcomed the advancement of two key pieces of legislation for the housing market.
The House Financial Services Committee (FSC) agreed to refer the Housing for the 21st Century Act (H.R. 6644) and the National Flood Insurance Program (NFIP) Extension Act of 2026 (H.R. 5577) to the House floor for consideration. H.R. 5577 would extend NFIP authorization through Sept. 30, 2026.
Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit released a following statement following the committee’s markup session on Dec. 17.
“Housing affordability remains one of the most pressing challenges facing aspiring homeowners, renters, and communities,” Broeksmit said. “Today’s overwhelmingly bipartisan vote in the House Financial Services Committee is a significant milestone.”
Broeksmit reiterated his past praise of FSC Chairman French Hill (R-Ark.), Ranking Member Maxine Waters (D-Calif.) and Housing and Insurance Subcommittee leaders Mike Flood (R-Neb.) and Emanual Cleaver (D-Mo.) for sponsoring the bill, as well as the bipartisan coalition of committee members who also supported it.
“This housing affordability challenge affects everyone, from young people saving up to buy their first home, to middle class workers trying just to make the rent,” Flood said in a statement. “In other words, housing costs have been too high across our country for the last several years, and the culprit is a lack of affordable housing supply. … This bill, I think, is historic and bipartisan product that will get to the root of the housing affordability challenges our country has experienced for the last several years.”
Broeksmit emphasized that the advancement of the H.R. 6644 housing package reflects a shared commitment to increasing supply, improving affordability and modernizing federal housing programs across party lines.
“This legislation advances several long-standing MBA priorities, including updates to FHA multifamily loan limits, directional improvements to rural housing programs, and stronger coordination across federal agencies,” he said. “Many of these priorities align with proposals advanced by the Senate Banking Committee’s ROAD to Housing Act, underscoring a shared, bipartisan commitment in both chambers to tackling our nation’s housing challenges.”
H.R. 6644 was introduced just days after the House excluded language from its version of the National Defense Authorization Act meant to enact similar housing reforms.