07/28/2010
https://www.congress.gov...
"Obviously, $943 million is a lot of money and is of great concern to us, or to me."
"In order to avoid this problem, could HUD require lenders to set up an escrow account where, as with forward mortgages, property taxes, and insurance are paid out of that account and then added to the..."
"I look forward to working with my colleagues in both the House and Senate to enact a responsible budget compromise."
"The Department of Housing and Urban Development (HUD) faces many challenges in balancing the goal of strengthening responsible homeownership while minimizing the financial risk to FHA and the taxpayer..."