“So, I do it to thank them. I also do it because we have some great people there that are running and I want to make sure they win.”

Political Quotes

Alfonse D'Amato: “I believe the National Housing Act currently gives HUD the power to protect elderly homeowners seeking home equity…”

On the recordApril 25, 1997
I believe the National Housing Act currently gives HUD the power to protect elderly homeowners seeking home equity conversion mortgage loans, including the authority to regulate or prohibit unnecessary or excessive fees that mortgagors pay to third parties for referrals to HECM lenders and related services. Due to the urgent need to protect elderly homeowners, S. 562 will require HUD initially to implement these provisions through an interim notice in the Federal Register. HUD will also be required to proceed with formal notice and comment rulemaking and issue a final rule within 90 days. If needed to meet the 90-day target, HUD may provide an abbreviated public comment period.
Said by
Alfonse D'Amato
Source
govinfo.gov

Editor's note · Context

Discussing provisions of S. 562 to protect elderly homeowners in relation to home equity conversion mortgage loans.

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