WASHINGTON, DC - Today, Congressman Marlin Stutzman (IN-03), Congressman Zach Nunn (IA-03), and Congressman Eli Crane (AZ-02) sent a letterto Secretary of Housing and Urban Development Scott Turner, Secretary of the Treasury Scott Bessent, and Director of The Federal Housing Finance Agency William Pulte applauding President Donald J. Trump for his leadership in issuing a recent executive order aimed at protecting access to single-family homes for American families.
The letter was sent in an effort to understand how the agencies plan to implement several provisions of the executive order. The members' inquiries include:
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The definition of "large institutional investor" and "single-family home" for the purpose of implementing the Order.
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How will Treasury guard against regulatory arbitrage in its definitions?
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How do the Department of Housing and Urban Development and the Federal Housing Finance Agency intend to implement the guidance required under Section 3 to promote sales to individual owner-occupants?
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How will the agencies work to meaningfully lower the cost of housing and expand access to homeownership for American families?
The Members issued the following statements about the letter:
"Common sense dictates that American families should be on the same playing field as corporations when purchasing a home," said Rep. Stutzman."I stand with President Trump in helping creditworthy families pursue the American Dream."
"Iowans shouldn't have to outbid Wall Street to buy a home. When institutional investors swoop in with cash offers, they shut out working families, drive up prices, and turn starter homes into permanent rentals. Proud to support the White House in getting families into their first house," said Rep. Nunn.
"President Trump's willingness to confront the growing issue of institutional investors pricing families out of the housing market is spot on. By preventing large corporations from outcompeting everyday homebuyers, this initiative brings the American Dream back within reach. I applaud Rep. Stutzman for leading this effort in the House, and I'm proud to join," said Rep. Crane.