Can you talk a little bit about the impact that a narrow qualified residential mortgage definition could have on excluding first-time homebuyers from purchasing a home?
Editor's note · Context
Inquiring about potential effects of mortgage regulations on first-time buyers.
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I also want to thank Ranking Member Waters and my fellow colleagues on the Financial Services Committee for holding this hearing to examine the Terrorism Risk Insurance Act of 2002, which we all know as TRIA.
Thank you very much, Mr. Chairman, for allowing me to sit in today and to ask some questions.
I completely understand the need for actuarially-sound programs. But I think where we are missing it is the balance between actuarially sound and functionally and practically sound.
Most importantly, he took ownership and I think that's bold leadership when one, someone can admit they were wrong which he did, and two, take responsibility for it.





