When introducing the act, Roukema notes, "this country is facing a growing affordable housing problem for low- and moderate-income families and for those with special needs." Specifically, the legislation contains language that the MBA campaigned for in a House Subcommittee on Housing and Economic Opportunity hearing last year.

In particular, the act calls for the rollback of Ginnie Mae's impending guaranty fee increase, the extension of the Federal Housing Administration's (FHA) simplifying of its down-payment formula, and the establishment of a uniform national loan limit for FHA reverse mortgages for seniors.

"We commend Rep. Roukema for introducing the first comprehensive housing bill in the 107th Congress," MBA chairman Jim Murphy says in a statement. "We urge the House to pass this bill so that the American Dream becomes a reality for more Americans." The bill has been referred to the House Committee on Financial services and the Committee on the Judiciary for consideration.