Political Quotes

James A. Leach: I will tell the gentleman, this is an extremely important inquiry. The intent of the legislation is to cover individual…

On the recordApril 16, 1997
I will tell the gentleman, this is an extremely important inquiry. The intent of the legislation is to cover individual private primary mortgage insurance covering individual loans and not insurance for an entire pool of mortgages. The reason it is important that pool insurance not be covered is that it allows mortgages with PMI to be intermingled in the secondary market with those without, thus providing more flexibility in their securitization and lower cost for the homeowner.
Said by
James A. Leach
Iowa

Editor's note · Context

Discussing the implications of legislation on private mortgage insurance.

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