Political Quotes

“I rise specifically to support the important steps the Corker amendment takes to establish sound underwriting standards for mortgages. If there is any clear message from the crisis we have been through, it is that much of what went wrong began when loans were made to individuals who couldn't repay them. The Corker amendment makes commonsense changes. It requires minimum downpayments on mortgages, which makes it more likely that borrowers remain committed to paying their mortgages. It requires, among other things, that lenders verify a borrower's income and their ability to repay these loans. These might sound simple, but remarkably they have been overlooked by the Dodd bill. In the past, they have worked. We used to not have these kinds of problems. The Corker amendment, if we adopt this--and I urge my colleagues to vote for it--will go a long way in taking the right steps to bring common sense to our mortgage market.”