On the recordSeptember 6, 2017
Let me first reassure the gentlewoman that I support the mission of Neighborhood Reinvestment Corporation. As a matter of fact, this bill that we are on provides $140 million, the same amount that was provided in 2017. We are not rolling that back at all. The reduction from FY16, however, reflects the elimination of the National Foreclosure and Mitigation Counseling program. Now, this program was to be a 1-year program when it began in 2007 in response to, obviously, the foreclosure crisis at the time. Again, this 1-year program then continued on for 9 years. Now, recognizing that the economy improved, obviously, significantly, and foreclosure numbers continued to decline, Congress discontinued the NFMC program, again, in fiscal year 2017. In fact, the prior administration proposed elimination of the NFMC in its budget request for the very same reason. So in 2016--let's put this in perspective. Foreclosure filings were at a 10-year low and declined to 14 percent below the 2015 level. The foreclosure rate has stayed within a historically normal range for 3 years. So, further, the NRC has integrated foreclosure mitigation counseling into its other counseling programs, eliminating the need for a separate program. So, again, you know, we scrubbed these accounts. For those reasons, I respectfully would urge a ``no'' vote on this amendment. Mr. Chairman, I reserve the balance of my time.
