Bill Huizenga

I hope there are another 14 hearings because this is one of the most expansive steps that government has taken.

We appreciate Representative Huizenga's work on this important issue.

Richard Cordray, Director of the CFPB, appointed by President Obama, recently testified that this was an 'oversight.'

Let me be clear. We all agree that we need to have stringent consumer protections, but these reforms are much-needed common-sense measures, I believe.

I appreciate your candor. Those don't sound like huge problems to me, short of maybe the ombudsman creation.

People are not feeling hurt. They are looking for openness and genuineness, and they don't feel like they are getting that.

There is a sense of frustration oftentimes that what we are hearing from our constituents and try to express is not responded to.

You have thousands of hardworking people around this country who feel cheated. And frankly, it is hard not to disagree with them.

I think that is why you are seeing such frustration, anger, and hostility at this.

I believe that our market share is now shrinking is evidence, I believe, that the steps that we are talking on premiums and on underwriting are, in fact, moving in that direction.

But doesn't that sort of go counter to your argument that the FHA is needed for countercyclical, and if you guys are that rock solid, why isn't the private sector stepping in?

I, for one, am pleased that it sounds like it is going to be an easy pledge from all of us on this committee to say there won't be an FHA bailout.

I think that is the fear that a lot of us have in this current economy with the job situation as it is that that may be more risky.

At this time, Mr. Chair, I yield to my fellow Congressman from Michigan, Representative Dan Benishek.

Thank you, Mr. Chair. At this time I yield to my colleague, Chairman Tom Petri from Wisconsin.

(Mr. HUIZENGA of Michigan asked and was given permission to revise and extend his remarks.)

It is my hope and desire to make sure that those rules that you are implementing are based on that, and that it then provides that guidance.

When I was going through and getting my real estate license 20 years ago, I was taught that people aren't brown, they are not yellow, they are not white, and they are not black. They are green.

Washington can operate in a bubble. That has been very evident.

And when you have a crack in that system, it makes it very difficult to put our hard-working families back to work.

We are extremely grateful to the nine House co-sponsors of this bill, especially the Honorable Bill Huizenga.

The legislation, which would designate approximately 32,557 acres as wilderness, enjoys broad public support in Michigan.

But for 60 years that has worked. There has been a 0.5 percent MIP that has covered that. And by changing the game now, you only hurt the next generations of homebuyers.

I appreciate my colleague from California for yielding. Earlier, we heard from a colleague from Florida, on the other side of the aisle, who was talking about the Constitution and about the intent of it. Ladies and gentlemen, this is about…

The language that they said is they wanted to remove this outdated, obsolete, and underutilized program.