During his campaign, Obama highlighted other housing-related proposals as well, including:
*
Crackdown on mortgage fraud. The next president wants to increase funding for federal and state law enforcement programs to crack down on mortgage fraud, create new criminal penalties for mortgage professionals guilty of fraud and require “industry insiders” to report suspicious activity, according to his campaign Web site. Obama claims his Stop Fraud Act will provide the first federal definition of mortgage fraud.
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Better loan disclosure. The next president wants to provide potential borrowers with a “Homeowner Obligation Made Explicit,” or HOME, score which would give them an easier, standardized way to compare mortgage products and compare the full costs of the loans.
*
Universal mortgage credit. His proposed 10% universal mortgage credit for homeowners who don’t itemize their taxes could provide an average of $500 to 10 million homeowners, most of whom earn less than $50,000 per year, Obama’s campaign said. But Gerald T. Prante, of the Tax Foundation, argues that a better reform would “eliminate the current mortgage interest deduction and replace that with a universal mortgage credit for everyone.” He added that the solution to a more equitable tax policy for housing “is not more housing subsidies, it’s less.”
*
Improve housing affordability. Obama has proposed creating an Affordable Housing Trust Fund to create “thousands” of new affordable housing units annually, according to his Web site. He also wants to restore cuts to public housing operating subsidies and make sure Department of Housing and Urban Development programs are restored to their “original purpose.”
*
Build sustainable communities. The president-elect has vowed to reevaluate the transportation funding process to make sure that smart-growth considerations are taken into account. Communities better serve residents when people are able to leave their cars and walk, bike or take alternate transportation, the campaign stated on its Web site.
NEW YORK STATE RURAL ADVOCATES 
During his campaign, Obama highlighted other housing-related proposals as well, including:
*
Crackdown on mortgage fraud. The next president wants to increase funding for federal and state law enforcement programs to crack down on mortgage fraud, create new criminal penalties for mortgage professionals guilty of fraud and require “industry insiders” to report suspicious activity, according to his campaign Web site. Obama claims his Stop Fraud Act will provide the first federal definition of mortgage fraud.
*
Better loan disclosure. The next president wants to provide potential borrowers with a “Homeowner Obligation Made Explicit,” or HOME, score which would give them an easier, standardized way to compare mortgage products and compare the full costs of the loans.
*
Universal mortgage credit. His proposed 10% universal mortgage credit for homeowners who don’t itemize their taxes could provide an average of $500 to 10 million homeowners, most of whom earn less than $50,000 per year, Obama’s campaign said. But Gerald T. Prante, of the Tax Foundation, argues that a better reform would “eliminate the current mortgage interest deduction and replace that with a universal mortgage credit for everyone.” He added that the solution to a more equitable tax policy for housing “is not more housing subsidies, it’s less.”
*
Improve housing affordability. Obama has proposed creating an Affordable Housing Trust Fund to create “thousands” of new affordable housing units annually, according to his Web site. He also wants to restore cuts to public housing operating subsidies and make sure Department of Housing and Urban Development programs are restored to their “original purpose.”
*
Build sustainable communities. The president-elect has vowed to reevaluate the transportation funding process to make sure that smart-growth considerations are taken into account. Communities better serve residents when people are able to leave their cars and walk, bike or take alternate transportation, the campaign stated on its Web site.
(from Market Watch)