Legislative Update
It seems like "hello" and "thank you" is a good place to start. I'm three months into my duties as Director of Legislative Affairs and each day has been an enjoyable learning experience. OHFA is full of dedicated and talented people and I've been the beneficiary of their patience and knowledge.
I came to OHFA with a fair amount of government relations experience but little understanding of affordable housing issues. My previous positions include two legislative affairs stints at the Ohio Department of Insurance that bookend several private sector jobs as a business development advocate, the director of the Ohio Aggregates Association, and a lobbyist for a major solid waste management company and their national trade association. Fortunately, the legislative process remains mostly the same, but now I'm ramping up on the workings of HUD and the Treasury.
When I arrived in August, both the Ohio General Assembly and Congress were in recess. Now back in session until mid-December, debates involving the foreclosure crisis and extending federal stimulus resources for housing programs are ongoing; but state legislators have been weighed down by budgetary concerns, and Congress has been focused on the health care reform debate.
One new piece of federal legislation that we will be watching is S. 1731, "The Preserving Homes and Communities Act of 2009," introduced by Senator Jack Reed (D-R.I.). The bill's purpose is to enable banks and mortgage lenders to speed up loan modifications by requiring that qualified homeowners be offered workouts, to establish a new mortgage payment assistance program, and to incentivize state and local governments to use mediation programs to find alternatives to foreclosure. The bill would provide $6.375 billion for states to create revolving loan funds for grants or subsidized loans to homeowners, $80 million in competitive federal matching funds for states and localities to establish mandatory mediation programs, and $5 million for HUD to oversee the development of a single database for monitoring mortgage markets.
In Ohio, two recently introduced companion bills also address the issue of foreclosure mediation. House Bill (H.B.) 306 (Matt Dolan, R-Novelty) and Senate Bill (S.B.) 197 (Shannon Jones R-Springboro) would require courts to establish and operate mandatory mediation programs for non-tax foreclosure actions on occupied residential properties. Courts would develop qualifications for the appointed mediators and impose filing fees not to exceed $500 to cover the costs of the mediation. H.B. 306 has been assigned to the House Housing and Urban Revitalization Committee while S.B. 197 has yet to be assigned.
If you have any questions regarding these items or have anything to share, I would be happy to hear from you. My email is gford@ohiohome.org and my office phone is 614.995.1092.