More on Housing
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.
Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee and a top congressional advocate for affordable housing, reintroduced H.R. 1209, The Section 8 Voucher Reform Act (SEVRA), late last week. The bill would reform the Section 8 Housing Choice Voucher Program, which provides rental housing assistance to 2 million low-income American families.
by Richard Simon
The congressional hearing had been called to take testimony about a Republican plan to shut down a nationwide program championed by Rep. Maxine Waters that uses tax dollars to buy and fix up foreclosed properties.
When it was her turn to speak, the fiery Los Angeles Democrat said: "I don't have any questions. I just have a lot to say."
And she did.
The House of Representatives voted today to end the Neighborhood Stabilization Program (NSP), which Congresswoman Maxine Waters (D-Calif.) created and which President George W. Bush signed into law three years ago under the Housing and Economic Recovery Act (HERA). Last week, House Republicans also voted to end the Federal Housing Administration (FHA) Short Refinance Program and the Emergency Homeowners Relief Program (EHRP), the latter of which Congresswoman Waters worked to include in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
By Jeremy Pelofsky
FBI Director Robert Mueller defended on Wednesday the Obama administration's efforts to prosecute Wall Street executives responsible for the U.S. mortgage meltdown amid criticism from some lawmakers that not enough has been done.
The agency has more than 3,000 open investigations into mortgage fraud alone, with 94 task forces and some 340 agents assigned, Mueller told the House of Representatives' Judiciary Committee.
Though their stated pledges since coming to power have been to 'cut the deficit' and 'create jobs,' House Republicans will soon take a series of votes to further solidify a radical agenda that does neither.
Congresswoman Maxine Waters (D-Calif.), the ranking member of the Subcommittee, issued the following opening statement:
Thank you, Mr. Chairman, for convening this hearing today to examine the potential for creating a covered bond market in the United States.
Today we convene to discuss covered bonds, and Representative Garret's covered bond bill, H.R. 940.
by Alan Fram
The House voted Friday to kill mortgage assistance for homeowners who have lost their jobs or become ill, as the two parties battled over how to balance frugality and compassion at a time of enormous budget deficits.
The mostly party-line 242-177 vote by the Republican-run House to abolish the Emergency Mortgage Relief Program may be as far as the legislation gets. The White House has threatened to veto the measure, and its prospects are shaky in the Democratic-controlled Senate.
By Pete Kasperowicz
House Republicans for the second day in a row on Friday voted to eliminate a federal mortgage program.
In a 242-177 vote, the House approved legislation rescinding $1 billion that was authorized last year for a Housing and Urban Development (HUD) program that helps unemployed people make their mortgage payments for up to 12 months. Eight Democrats voted with Republicans in support of the bill, and only two Republicans voted against it.