Political Quotes

“We will accept the amendment. I have had similar occurrences in my district where actually one gentleman had to pay back $42,000 worth of late fees as well as the penalties and the difference between the loan modification. That's where I think this program has failed. Yet I think your amendment is a sense for Congress to encourage the banks to work with our constituents and to provide loan modifications to those who are eligible. It also encourages banks to work with our constituents and to provide them with the best services. It encourages the banks to assist prospective homeowners with foreclosure prevention and counseling. I think this is a help in the private sector and encourages the private sector to do this, so we would accept this amendment. I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentlewoman from California (Ms. Loretta Sanchez). The amendment was agreed to.”