I oppose the Crapo amendment because of the limitations that it would impose on Fannie Mae and Freddie Mac. These institutions have been very helpful to homeowners in West Virginia who are seeking home loan modifications. I do not believe this is the right time to be limiting the assistance that Fannie Mae and Freddie Mac can offer to struggling homeowners in paying for their mortgages and keeping their homes.
The speaker addresses the impact of the Crapo amendment on Fannie Mae and Freddie Mac's assistance to homeowners.
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