Political Quotes

“I yield 3 minutes to the gentlewoman from New York (Mrs. McCarthy), a member of the committee. Mrs. McCARTHY of New York. Mr. Chairman, let me say something first. In the beginning of this program, we didn't have any service. That means there were no people out there to help those that were trying to apply. But we have seen encouraging signs in the economy; yet we are still on a long path towards economical recovery. Many of my constituents are still facing hardship, including trying to keep their homes. When the housing crisis hit, the private sector responded by turning their backs on those that needed the help. As a result, Congress stepped in and created housing programs to hold the industry accountable and to help these families weather the worst housing crisis that we have seen in generations. Now, thanks to the leadership of the President and the Democratic- controlled 111th Congress, we are seeing more and more servicers adopting their own programs, largely based on the eligibility criteria within the programs such as HAMP. The past few weeks my colleagues on the other side of the aisle have brought bills to the floor to terminate these programs, claiming they have done more harm than good to the homeowner and that struggling homeowners are in better hands with the private companies that contributed to the housing crisis in the first place. Most of the homeowners got in trouble because the private sector is the one that got them in the problems.…”