The American Land Title Association(ALTA), the national trade association of the land title insurance industry, today announced its support for the bipartisan, bicameral Housing Supply Frameworks Act. The legislation was introduced in the Senate by Sens. Lisa Blunt Rochester (D-DE), John Fetterman (D-PA), Mike Crapo (R-Idaho) and Thom Tillis (R-NC), and in the House by Reps. Brittany Pettersen (D-CO) and Mike Flood (R-NE).
The bill provides state and local governments with the tools and technical expertise needed to modernize outdated zoning and land-use policies. By reducing regulatory roadblocks, the bill seeks to unlock new housing opportunities and address the shortage of affordable homes across all income levels.
“Improving housing supply is vital to the health of our communities and the long-term strength of our economy,” said ALTA CEO Diane Tomb. “The Housing Supply Frameworks Act takes an innovative, community-driven approach to solving one of the nation’s most pressing issues. By reducing unnecessary regulatory barriers, this legislation can help spur responsible development, strengthen access to homeownership and restore the American Dream for countless families.”
Protecting property rights and ensuring secure real estate transactions are essential to a healthy housing market and enable more Americans to achieve homeownership.
The legislation builds on a century of precedent, including the Standard State Zoning Enabling Act of the 1920s, by offering a new framework for 21st-century housing needs. Importantly, the bill does not impose federal mandates but empowers local jurisdictions with the flexibility to implement zoning reforms tailored to their unique needs.
ALTA joins more than 140 housing and advocacy organizations in endorsing this important legislation.
About ALTA
The American Land Title Association, founded in 1907, is a national trade association representing more than 6,000 title insurance companies, title and settlement agents, independent abstracters, title searchers and real estate attorneys. ALTA members conduct title searches, examinations, closings and issue title insurance that protects real property owners and mortgage lenders against losses from defects in titles.