Barney Frank: “I take back my time because the gentlewoman is simply, I understand…”

On the recordSeptember 18, 2007

I take back my time because the gentlewoman is simply, I understand her answer. It is, if there is a higher loan loss rate from lending to lower-income people, people with weaker credit, they have to subsidize each other. We say, no; raise the jumbo limit, and let those people in California and Massachusetts and New York who are getting mortgages at $600,000 and $500,000, let them subsidize it. Nobody is subsidizing. You shouldn't have to subsidize if you are making your own payments.

Said by

Barney Frank

Democratic · Massachusetts

Source

govinfo.gov

Editor's note · Context

Discussing the need to raise jumbo loan limits and support for the Expanding American Homeownership Act.

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Barney Frank: “I take back my time because the gentlewoman is simply, I understand her answer. It is, if there is a higher loan loss…”

Editor's note · Context