Political Quotes

“I would just like to point out to Congressman Fitzpatrick from the great State of Pennsylvania that there are over 132,000 homes that are underwater now that could benefit from this program, and urge my colleagues to support the program. The Acting CHAIR. The question is on the amendment offered by the gentleman from Pennsylvania (Mr. Fitzpatrick). The amendment was agreed to. {time} 1400 The Acting CHAIR. The Clerk will designate section 3. The text of section 3 is as follows: SEC. 3. TERMINATION OF FHA REFINANCE PROGRAM. (a) Termination of Mortgagee Letter.--The Mortgagee Letter referred to in section 2 shall be void and have no effect and the Secretary of Housing and Urban Development may not issue any regulation, order, notice, or mortgagee letter based on or substantially similar to such Mortgagee Letter. (b) Treatment of Remaining Funds.--Notwithstanding subsection (a) of this section, any amounts made available for use under the Program referred to in section 2 of this Act and expended before the date of the enactment of this Act shall continue to be governed by the Mortgagee Letter specified in subsection (a) of this section, and any other provisions of law, regulations, orders, and notices, applicable to such amounts, as in effect immediately before such date of enactment.…”