Committee reviews statute updates to give Housing Finance Commission more lending flexibility
HB 2,236 would modernize the Washington State Housing Finance Commission’s statute to allow some forms of direct lending, extend an attorney term, remove certain plan requirements and update operative language; the commission described potential for gap financing and starter‑home programs while banks asked for clearer definitions and guardrails.
The full story
Committee staff opened the second hearing by describing House Bill 2,236, which makes a series of statutory changes to the Washington State Housing Finance Commission (HFC). Audrey Vazik told the committee the bill would authorize the commission to make mortgage loans directly to borrowers in addition to making loans to or deposits with mortgage lenders, extend the commission attorney’s term from two to four years, remove a state finance committee notice requirement for bond issuance, and repeal some housing finance plan requirements.
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