Political Quotes

“this amendment offered by my friend from Georgia sounds good, but let's examine it for a little while. This amendment is opposed by the scholars of the Heritage Foundation, the Cato Institute, the American Action Forum, the American Enterprise Institute, and the Competitive Enterprise Institute. As we all know, the mortgage underwriting process is about evaluating a borrower's ability to afford a mortgage, and history tells us that if we play around with it, it does not end well when we forget this. This amendment would weaken FHA's underwriting standards, leading to greater safety and perhaps soundness concerns for FHA's portfolio, which received a $1.7 billion bailout in 2013. It would require that appraisals be inflated to account for the value of energy efficiency upgrades as determined by HUD. The PRESIDING OFFICER. The Senator's time has expired.”