we've heard a lot today about H.R. 3915 and how it is a dramatic departure from current law that I believe will have an unintended negative impact on banks and creditworthy home buyers. I think it's the opinion of many in this Chamber, certainly it's my opinion, that in an attempt to improve conditions in the housing market, this bill instead will likely prevent more hardworking Americans from obtaining a mortgage in a market that is already feeling the pinch. They need more help; they do not need roadblocks. The legislation before the House today may do more harm than good. Yet reasonable people, which we are in this Chamber, can choose to disagree on issues, and this is one of those where we are in disagreement. I respect my colleagues on both sides of the aisle for their varying positions on this legislation, but there is disagreement. I believe most of my colleagues cannot disagree with the following proposition, and it is this: American creditors should not be able to extend any credit in connection with a residential mortgage loan unless they verify the identity and legal immigration status of a potential debtor and verify the status with only a secure ID. Mr. Speaker, this recommittal makes good, solid common sense. The American people do not believe that illegal immigrants and other individuals without proper identification are entitled to the same benefits, privileges and services as U.S. citizens and legal aliens.
On the recordNovember 15, 2007
Source
govinfo.govEditor's note · Context
Addressing concerns about H.R. 3915 and its impact on the housing market and mortgage access.
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