Lynn A. Westmoreland: “Without an overhaul, this Congress could be condemning Americans to a cycle of poverty from which they cannot escape.”

In fact, a lot of us who were not on the committee when Dodd-Frank was passed feel kind of like that guy in the circus walking behind the elephant with a broom and a shovel.

The FHA is insolvent. If FHA were a private mortgage insurance company or one of my community banks, it would have failed a long time ago.

The list of FHA advantages over the private market is long, and I have fought to bring private mortgage financing and PMI back into the market.

As expected in the President's budget released this month, FHA will need a taxpayer bailout.