Rubén Hinojosa: “Today I rise to offer an amendment to H.R. 3700, entitled, the Housing Opportunities Through Modernization Act of 2015.…”

“Today I rise to offer an amendment to H.R. 3700, entitled, the Housing Opportunities Through Modernization Act of 2015. I want to thank Mr. Luetkemeyer for his hard work on this bill and for the bipartisan and collaborative way in which he went about this important housing reform. I also wish to thank the ranking member, Ms. Maxine Waters of California, for her hard work and for always looking out for those most needy in our society and for working to improve this bill. My amendment would authorize a nominal user fee on lenders accessing the underwriting systems for the Section 502 Single Family Housing Guaranteed Loan Program. This fee would not exceed $50 per loan and would enable the United States Department of Agriculture to make much- needed upgrades to their automated underwriting system in order to match industry standards. Mr. Chairman, I believe that access to safe, decent, and affordable housing can transform lives. Federal programs like the Section 502 Single Family Housing Guaranteed Loan Program play a critical role in expanding home ownership and opportunity for our rural communities. This Federal program has helped over 2 million families build wealth through the equity in their home and encourages lenders to provide loans to those who cannot usually obtain conventional financing.…”