This program was always intended to aid low- and middle-income home buyers. It was never intended to be of assistance to the high-income home buyer. The high-income home buyer belongs in the private mortgage insurance business. This amendment recognizes that. I urge my colleagues to support this amendment.
Herb Kohl: “This program was always intended to aid low- and middle-income home buyers. It was never intended to be of assistance to…”
On the recordJuly 17, 1998
Source
govinfo.govEditor's note · Context
Discussing an amendment related to mortgage insurance for home buyers.
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Senator Kohl. I appreciate that. Just one final comment. Again, the biggest banks with whom you are competing are generally described in the same way you just described yours, and their loan-to-deposit ratios are higher than yours.
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