Political Quotes

“Mr. Chair, I have an amendment at the desk made in order by the rule. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of the bill, add the following new section: SEC. 7. EFFECTIVE DATE. (a) In General.--Sections 2 through 6 of this Act shall take effect, and the amendment under section 3(c), shall be made, in accordance with subsection (c) of this section. (b) Determination of Effect on Middle Class Borrowers.-- Promptly after the date of the enactment of this Act, the Director of the Federal Housing Finance Agency shall-- (1) make a determination of whether allowing section 2 of this Act to take effect would result in increased loan-level pricing adjustment fees for middle class borrowers (which term, for purposes of this subsection, means a borrower having a household income equal to or less than 100 percent of the median income for the area in which the residence subject to the mortgage loan for which such fees are charged is located or, in the case of high-cost areas, 140 percent of the median income for such area) who are first-time homeowners; and (2) notify the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, in writing, of such determination.…”