On the Issues
If real estate is your profession, then politics is your business! We need elected officials in Washington who understand our industry, our livelihoods and are willing to stand up and protect our interests. Our Congresswoman, Kirsten Gillibrand, has done just that!
During her time in Washington, Kirsten Gillibrand has a strong record of support for New York property owners and on REALTOR® issues affecting our business. Kirsten has proven she is one of our strongest advocates by supporting key legislation such as:
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Keep Banks out of Real Estate
A competitive real estate market. Cosponsored legislation to prevent large banking conglomerates from taking over locally owned and operated real estate companies. Ensured that Congress, not regulators, decides whether an expansion of bank powers is in the best interest of consumers. H.R. 111(More)
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Increased Mortgage Loan Limits
Increased Fannie, Freddie & FHA Loan Limits. Fought to ensure that workers such as teachers and police officers nationwide can finance and purchase homes in the communities where they work. H.R. 1852, H.R. 1427, H.R. 5140, H.R. 3221 (More: FHA, GSE)
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Tax Credit for Home Purchase
First time homebuyer tax credit. Recognized the unique challenges that face first time homebuyers and provided a helping hand to make homeownership a reality for first time homebuyers and support local housing markets. H.R. 3221(More)
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Government-Sponsored Enterprises Reform
Fannie Mae & Freddie Mac Reform. Supported Efforts to ensure that Fannie Mae & Freddie Mac have a strong independent regulator that will not only exercise oversight over financial matters but will also preserve their unique housing mission. H.R. 1427, H.R. 3221(More)
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FHA Modernization
Modernizing FHA. Created new opportunities with improved refinancing options and updated condominium mortgage insurance requirements. Protected borrowers from exploitation by lenders and others who offer mortgages that are not in the best interest in the borrower. H.R. 1852, H.R. 3221(More)
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Industrial Loan Corporations
Separation of Banking & Commerce. When large corporations such as Wal-Mart and Home Depot applied to open banking subsidiaries, Congresswoman Kirsten Gillibrand voted to close a loophole to ensure that banks are not swayed into making credit or other business decisions based on their affiliation with commercial firms. H.R. 698(More)
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Terrorism Insurance
Available and affordable property insurance. Ensured that property insurance is available and affordable for all property owners. H.R. 2761(More)
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Mortgage Debt Cancellation
Tax treatment of forgiven indebtedness. Eliminated burdensome IRS rule that charges income tax on mortgage indebtedness forgiven by a lender in a short sale, workout, or foreclosure. H.R. 3648(More)
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Affordable Housing Trust Fund
Encouraging Homeownership. Increased the supply of affordable and entry-level housing to allow people to gain a foothold into homeownership enabling more families of modest means to become homeowners. H.R. 2895(More)
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Mortgage Reform
Curtail Abusive Lending. Supported federal legislation and regulation that prevents abusive lending while keeping fair and affordable subprime loans available. H.R. 3915(More)
