US to collaborate with Israel on mortgage and housing finance

The countries agreed to establish a formal exchange of information and research

US to collaborate with Israel on mortgage and housing finance

The United States and the State of Israel have entered an agreement under which they will increase collaboration on a host of mortgage finance, housing, and community development issues, according to the Department of Housing and Urban Development.

Under a cooperative memorandum, the countries established the formal exchange of information and research related to mortgage and housing finance, low- and moderate-income housing, rental housing assistance, management of public housing, and community development.

HUD Deputy Secretary Pamela Patenaude, on behalf of HUD Secretary Ben Carson, and Israel’s Deputy Finance Minister Yitzhak Cohen signed the agreement in Jerusalem during a meeting of the US-Israeli Joint Economic Development Group.

“This cooperative agreement will serve as another building block in strengthening the close ties between our nations on a number of common issues that impact our citizens,” Patenaude said. “We plan to share research and best practices for addressing the affordable housing challenges facing our nations. I am convinced that working together, we will be able to learn from each other to improve the lives of those we serve.”

“The Memorandum of Cooperation on housing is an opportunity to deepen the close ties between Israel and the United States on an important issue that preoccupies both countries,” Cohen said. “Israel and the United States are facing very different housing challenges, but we can learn from these differences and cooperate on sharing acquired knowledge for the benefit of the next generations.”

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