On the recordApril 16, 1997
I rise in support of H.R. 607. This is a rather proud moment in the history of this Congress and certainly of the 105th Congress. I would like to commend the gentleman from Utah [Mr. Hansen] for his work on this legislation. I would like to commend the members of the Committee on Banking and Financial Services who joined together from both sides of the aisle to do something real for the consumers. I am so proud we beat the special interests on this bill. I am proud that the leadership understood finally and brought this bill to the floor. Simply put, American consumers who had home mortgages that paid less than perhaps 20 percent down on those mortgages had to have private mortgage insurance. They should have been able to opt out and not to have to pay that after they had paid 20 or 25 percent... This is a strong consumer bill. I am proud that I amended it so that I could protect States who have strong disclosure laws.
Source
govinfo.gov
