Political Quotes

“I claim the time in opposition to the amendment introduced by Ms. Pettersen which would make it impossible to repeal the Federal Housing Finance Agency's damaging price increases on creditworthy home buyers. In fact, it will undo the entire point of the bill. The legislation before us, the Middle Class Borrower Protection Act, would repeal these increases and would require the Government Accountability Office to assess the FHFA's fee structure. That is the point of the GAO's study. It would also require that any future loan-level fees implemented by the agency adopt a risk-based price framework. Ms. Pettersen's amendment would set up a sham test so that FHFA would have to keep those unfair fees in place even at the expense of the majority of middle-class borrowers. So while the gentlewoman's amendment is designed to sound fair, the reality is that it would actually have the opposite effect of what it advertises. Instead of lowering fees for middle-income families, it would doom many of them to higher fees. In other words, a vote for Ms. Pettersen's amendment is a vote against the Middle Class Borrower Protection Act. I also find it interesting that our friends on the other side of the aisle would support an amendment that essentially says: Don't do this if it makes fees go up, which is exactly what our bill does. It stops the fees from going up or staying up, as the case is on part of the plan that they implemented.…”