On the recordJuly 30, 2010
I'm rising today in support of this bill, H.R. 5981, and as our chairman said, we have been working diligently, I think, to bring forth solid FHA reform. We passed that bill almost unanimously--I think it was 406-4--probably about a month ago, and so the majority, the large majority of this House is in agreement with a lot of the provisions in that bill. One of the provisions, as he said, is raising the annual premium on FHA, and I think this is right and proper; and I think it's something we need to do because, as we know and as has been brought forth in our committee, the capital reserve fund has fallen, I believe, dangerously low. And what we're trying to avoid is a situation where we may be asked to bail or at least to help the FHA in some sort of infusion of dollars from the Treasury. So I wholeheartedly will support this bill, but I do want to reemphasize, as the chairman said, we had a whole host of reforms in our original bill.
