More on Housing
Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, released the following statement today:
by Jon Prior
Members of the House Financial Services Committee want more information on how Fannie Mae and Freddie Mac contract with companies charged with managing and reselling previously foreclosed homes, known as REO.
Rep. Maxine Waters (D-Calif.) introduced an amendment to eight bills on reforming the two government-sponsored enterprises that would require the Federal Housing Finance Agency Inspector General to report on the REO selection process and recommend how to improve it.
"Mr. Chairman, I'd like to thank you for convening this mark-up this morning, and for this Subcommittee's continued attention to the state of the Government Sponsored Enterprises (GSEs).
By Lorraine Woellert
The National Association of Homebuilders and the National Association of Realtors asked House Republicans to delay a vote on a package of bills to reduce the dominance of Fannie Mae and Freddie Mac.
Thank you, Mr. Chairman, for organizing this hearing.
This is now our third hearing on GSE reform during the 112th Congress. As I have stated at those previous hearings, I am committed to working with my colleagues on a practical, comprehensive reform proposal to reshape our housing finance system.
By Alan Zibel and Jeffrey Sparshott
The U.S. House voted Tuesday to end the Obama administration's main effort to assist troubled homeowners, with Republican lawmakers arguing that the program has failed to ease the foreclosure crisis.
The attempt to shut down the administration's flagship foreclosure-prevention effort, the Home Affordable Modification Program, or HAMP, is the last of four Republican attempts to shut down Obama administration efforts to prevent foreclosures or stabilize troubled neighborhoods.
by Meredith Shiner
The House Tuesday voted to eliminate the last of four Obama administration housing programs, in an effectively symbolic vote to end the controversial Home Affordable Modification Program.
by Alan Fram
House Republicans pushed through legislation Tuesday to terminate an underachieving Obama administration program designed to reduce mortgage payments for homeowners in danger of losing their homes to foreclosure.
Most Democrats, while acknowledging that the Home Affordable Modification Program has fallen short of original goals, protested the vote to kill it. The White House, in a statement, said that if the bill ever reaches President Barack Obama's desk, his senior advisers would recommend he veto it. The vote was 252-170.
by Peter Schroeder
A coalition of 50 House Democrats are calling on the Obama administration to overhaul one of its key housing relief programs, as Republicans are pushing to eliminate it.
In a letter sent Monday to Treasury Secretary Timothy Geithner, the lawmakers, led by Rep. Maxine Waters (D-Calif.), say the Home Affordable Modification Program (HAMP) has been "disappointing" and is in need of major improvements.
Congresswoman Maxine Waters (D-Calif.) and the African American Members of the House Financial Services Committee (known as the FS 10) were recently honored by the Black Press of America and the National Newspaper Publishers Association Foundation (NNPAF) with the 2011 Political Leadership Award for their work during negotiations for the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Congresswoman and Congressman William Lacy Clay, Jr. accepted the award on behalf of the FS 10 at an event last week at a Newsmaker Dinner and Gala at the Omni Shoreham Hotel.