Political Quotes

“as my colleague and comanager of the bill, the Senator from Washington, has just stated, we are preparing to vote on an amendment that is a technical correction to the Housing and Community Act of 1987 to make sure that HUD has the authority to recover any assets or income for a multifamily project where the funds are used in violation of the project's regulatory agreement. It is necessary to ensure that HUD and the Federal Government can recover losses from owners of multifamily housing who have intentionally and fraudulently skimmed equity from an FHA-insured project for their own benefit. Without this technical correction, HUD, FHA, ends up paying the lender the value of a defaulted FHA-insured mortgage that should have been paid off by the owner of the multifamily housing out of rent receipts. I hope my colleagues will look at it and see this is nothing but common sense and adopt it. At the same time, I reiterate for those who may be listening, we want to move forward on this bill as quickly as possible. We hope people who have amendments will come forward. We are looking for an agreement to take up the DC appropriations bill which has to be added to this to go to conference. It will be a separate conference, but since the House has DC in with the HUD bill, they will have to be considered at once. We ask that everybody bring forth those amendments and be prepared for a filing deadline tomorrow. Mr.…”