HI HCR6

Request the Legislative Reference Bureau with assistance from the Department of Business, Economic Development, and Tourism to conduct a study on the need for a state mortgage guaranty fund.

Study should evaluate feasibility of creating a mortgage guaranty fund offering coverage equivalent to private mortgage insurance for lenders.

Study should examine requiring private mortgage insurance companies to expand guidelines for Hawaii condominiums up to ninety-five percent loan-to-value ratio.

Department of Business, Economic Development, and Tourism must coordinate with industry leaders and government at all levels to analyze affordable and workforce housing market solutions and fast-track construction projects.

Department must submit draft findings and recommendations to Legislative Reference Bureau by November 1, 2014, with final report due to Legislature at least twenty days before the 2015 Regular Session convenes.