01/02/2018
https://www.congress.gov...
"You mention in your testimony that lenders in the HARP program report that borrowers are saving as much as $2,500 per year, which, as you point out, is the equivalent of a big tax cut for those borrow..."
"But am I correct in saying that even that figure does not include the additional savings borrowers could get if we enacted the Menendez-Boxer draft bill and increased competition in the HARP refinance..."
"Really significant. So if I have been patching the roof that is leaking in my home, I now will have the wherewithal to replace it, which is, of course, of value to preserve the property value, but als..."
"Our bill would help $17.5 million borrowers who have Fannie Mae and Freddie Mac loans but who are trapped paying interest rates above 5 percent because of barriers to refinancing."