Joe Baca: “I rise in support of H.R. 4471, the Homeownership Opportunities for Native Americans Act. Under Title VI of the Native…”

“I rise in support of H.R. 4471, the Homeownership Opportunities for Native Americans Act. Under Title VI of the Native American Housing Assistance and Self-Determination Act, HUD guarantees tribal obligations to help finance affordable housing activities. The Title VI loan assists Indian Housing Block Grant borrowers who wish to finance eligible affordable housing activities, but are unable to secure financing without the assistance of a Federal guarantee. Native Americans deserve decent housing, a suitable living environment, and economic opportunities. Title VI helps make this happen. During the previous administration, Title VI guaranteed up to 95 percent of a loan. In fact, several loans are currently pending based on the 95 percent loan guarantee level. Unfortunately, the Office of Management and Budget is now saying that loan guarantees cannot be greater than 80 percent of a loan. This bill would allow Title VI to continue to guarantee loans up to 95 percent. I want to thank Congressman Renzi and Congressman Matheson, the authors of this bill. They understand that all Americans are entitled to the American dream. For too long our Native American brothers and sisters have been treated like second-class citizens. This bill is a strong step towards putting Native Americans on a fair playing field.”