Senator Comments at Senate
Banking Committee Hearing
At the November 19, 2014 Senate Banking Committee hearing, Senator Robert Menendez discussed the National Housing Trust Fund (NHTF) with Federal Housing Finance Agency Director Mel Watt. When Watt testified, Senator Menendez raised the importance of ending the current suspension of funding the NHTF.
Funding the National Housing Trust Fund Trust Fund (NHTF) with revenue raised from modifications to the mortgage interest deduction (MID) is one of Monarch Housing Associates key federal housing priorities.
“The reality is that while we now see GSEs (Government Sponsored Enterprises) generating profits … we don’t see the allocation going back.” And on potential GSE reform, the “Trust Fund is a very important part of that.”