Illinois REALTORS® Vicky Silvano and Nancy Suvarnamani are asking legislators on Capitol Hill to support the rights of property owners and real estate professionals this week on behalf of the National Association of REALTORS® (NAR) and Asian Real Estate Association of America (AREAA).
They are in Washington, D.C., during the NAR Midyear Legislative Meetings & Expo.
While NAR is working hard on the home mortgage interest deduction, the 1031 exchange, flood insurance and government sponsored enterprise (GSE) reform issues, AREAA is on the Hill discussing student loan impacts on mortgage lending, language barriers, reform for the uniform loan application and credit scoring. Together, these two organizations are carrying the message that homeownership and access to capital and cultural barriers to homeownership are both important issues that members of Congress need to be aware of as they make decisions on matters of policy.
U.S. Rep. Judy Chu of California’s 27th District was a speaker at the AREAA Policy Town Hall and stated that “the real estate industry is so important and a favorite for her to meet with since they are most in tune with their communities.” Chu will see the first-hand impact of the collective efforts of both groups.
In some cases, Suvarnamani and Silvano are facilitating conversations that need to take place on these important issues. Suvarnamani, the NAR Federal Political Coordinator to U.S. Sen. Tammy Duckworth of Illinois, is visiting the senator to discuss the AREAA issues and then participating in the Illinois REALTORS® town hall meeting for Duckworth and U.S. Senator Dick Durbin of Illinois.