Political Quotes

“This amendment is called the SAFE Mortgage Licensing Act, ``licensing'' being the dispositive word. I am very proud to work with this with Senator Martinez of Florida. One of the things I didn't realize is how big scams are a part of the subprime market. I remember picking up a USA Today newspaper in January and the headline reading, ``Housing Scams Rising, FBI Says. 2007 Convictions More Than Doubled.'' As we began to look at this, we found there was a very real problem. The problem is that there is but a thin patchwork of State regulations. They vary. Some do not have any. Some are pretty good; some are not so good. So we put together this bill, Senator Martinez and I, and I am very proud to say it is supported by the National Association of Mortgage Brokers, by the Conference of Bank Supervisors, by the mayor of Los Angeles, and by the National Association of Realtors.”