STAND. COM. REP. NO.  1880

Honolulu, Hawaii

                , 2009

RE:   S.C.R. No. 174

      S.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Housing, to which was referred S.C.R. No. 174, S.D. 1, entitled:

"SENATE CONCURRENT RESOLUTION REQUESTING FEDERAL PROGRAMS FANNIE MAE AND FREDDIE MAC TO ALLOW SPECIAL RECONSIDERATION FOR A PRICING AND POLICIES EXCEPTION TO THE HAWAII REAL ESTATE MARKET AND FOR FIRST-TIME HOMEBUYERS WITH REGARD TO LOANS DELIVERED ON HAWAII CONDOMINIUMS,"

begs leave to report as follows:

     The purpose of this concurrent resolution is to request Fannie Mae and Freddie Mac to allow special reconsideration for a pricing and policies exception to the Hawaii real estate market and for first-time homebuyers with regard to loans delivered on Hawaii condominiums.

     The Hawaii Bankers Association, Hawaii Credit Union League, Hawaii HomeOwnership Center, Hawaii Association of REALTORS, and Mortgage Bankers Association of Hawaii supported this concurrent resolution.

     As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 174, S.D. 1, and recommends its adoption.

Respectfully submitted on behalf of the members of the Committee on Housing,

____________________________

RIDA CABANILLA, Chair