Everybody loves the housing budget (not)

You might think the Mortgage Bankers Association would be pleased with the HUD budget proposal given its powerful emphasis on homeownership -- but its response yesterday criticizes a new fee affecting Ginnie Mae mortgage-backed securities, proposed increases in multifamily mortgage insurance premiums, and proposed fee increases for single-family rural housing. They are also less than reassured by proposed funding cuts to the Flood Map Modernization Fund. Meteorological events of 2005 having created perhaps a smidgen of cause for concern in such areas. But even the bankers sound thrilled compared to Rep. Barney Frank, ranking Democrat of the House Financial Services Committee, who says the HUD budget proposal would be "making the worst worse." (Hat tip to Bendix Anderson, our man in New York, for both of these.)

The Center on Budget and Policy Priorities has a "preliminary analysis" here, not much of it happy. Afraid we missed CBPP's conference call this morning, but we'll be blogging a further "preliminary analysis" conference call by the National Alliance to End Homelessness" at 2 p.m. Eastern time today. Interestingly, homeless services are among the few programs for poor people that would receive actual funding increases under the '07 White House budget proposal. But we'll see how happy NAEH is with the big picture.

[UPDATE: NAEH has just posted written budget analyses on its conference call page.]