Huizenga Legislation to Help Low & Moderate Income Families Sent to Senate
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Last night, the
"This legislation will help low and middle income borrowers as well as prospective first-time homeowners realize a portion of the American Dream," said Huizenga. "Hard-working families across the nation should not be denied access to a qualified mortgage because of technicalities that are largely out of their control. H.R. 5461 represents a positive, bipartisan step forward to make sure
On Monday,
Mr. Speaker, I rise tonight in support of H.R. 5461, a bill authored by
Mr. Speaker, it is rare that the
We should all agree that
Whatever one's position on Dodd-Frank, we should all be able to agree that the text is not sacred and does need some fixing.
That is why I am pleased that the
The
My legislation that is included in this package is a strong, bipartisan provision that modifies and clarifies the way "points and fees" are calculated. This provision is narrowly focused to promote access to affordable mortgage credit without overturning the important consumer protections and sound underwriting required under Dodd-Frank's "ability to repay" provisions. Homeownership has been a pillar in American life for generations and this particular provision will help more Americans realize this portion of the American Dream.
This bill is a commonsense measure that should, and I believe does, have broad bipartisan support. I was puzzled, however, by a Dear Colleague Letter produced by Ranking Member Waters circulated earlier today. In the letter, she writes that
The reality is that Americans don't care about the parliamentary process so much as they want results. We are pleased that the
I encourage my colleagues to support H.R. 5461--especially my Democratic friends whom I believe support every component of the package. I reserve the balance of my time.
Background:
The Mortgage Choice Act originally passed the House unanimously on
More details on H.R. 3211, including
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