INFOGRAPHIC: Why is FHA a 'high risk' government program?
| Posted in Member Corner
On February 14, 2013 the Government Accountability Office (GAO) added the Federal Housing Administration (FHA) to its list of government programs identified as “high risk due to their greater vulnerability to fraud, waste, abuse and mismanagement or the need for transformation”. Chairman Hensarling Statement on FHA Being Added to "High Risk" List by GAO
| Posted in Press Releases
Financial Services Committee Chairman Jeb Hensarling released the following statement today after the Government Accountability Office (GAO) added the Federal Housing Administration (FHA) to its list of government programs identified as “high risk due to their greater vulnerability to fraud, waste, abuse and mismanagement or the need for transformation”. Chairman Hensarling: "For us to have a healthy economy, we must put the nation on a sustainable fiscal path. And to have a sustainable fiscal path, we must also have a sustainable housing finance system. I have grave fears that FHA, as it is operating today, is an impediment to both."
| Posted in Press Releases
WASHINGTON- House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing titled “Bailout, Bust, or Much Ado About Nothing?: A Look at the Federal Housing Administration’s 2012 Actuarial Report.” Chairman Hensarling on CNBC Squawk Box
| Posted in In Case You Missed It
House Financial Services Committee Chairman Jeb Hensarling (R-TX) joined CNBC’s Squawk Box this morning to discuss the committee’s current hearing series on the state of the Federal Housing Authority (FHA). Hensarling also discussed what to expect from President Obama’s State of the Union Address tonight. Subcommittee to Assess Obama Administration’s Response to Housing Crisis
| Posted in Press Releases
The Subcommittee on Housing, Insurance and Community Opportunity will hold a hearing this week to examine the Obama Administration’s response to the housing crisis, including new proposals announced by the President during his recent speech to a joint session of Congress. The Administration created a number of programs designed to help borrowers avoid foreclosure or refinance… The Dodd-Frank Act: Ill Conceived, Destined to Fail
| Posted in Member Corner
Today’s American Banker includes a dead-on piece about how the Dodd-Frank Act, with its 2,300 pages and more than 400 regulations, is “regulatory overkill” with unintended consequences that hurt consumers and the economy. “It's a fool's mission for our government to try to micro-manage our financial system — and for all the lip-service paid to balancing regulation and markets,… Senate Should Follow House’s Lead on Terminating Failed Program
| Posted in Member Corner
The Washington Post reports today on another failure of one of the Obama Administration’s foreclosure mitigation programs. In an article headlined “HUD program to help struggling homeowners falling short,” the Post notes this is “the latest in a series of efforts that has left funds allocated by Congress unspent and has failed to help as many” borrowers as promised. The Emergency… Financial Services Committee Faces Busy Agenda in September
| Posted in Press Releases
WASHINGTON - The Financial Services Committee is facing a busy first half of September with 11 hearings over the course of seven days on topics ranging from terrorist financing to reform of the Securities and Exchange Commission. On Friday, Chairman Spencer Bachus announced the committee’s tentative hearing schedule for the first half of September. Witnesses for the hearings will… Bill Providing Critical Access To Tornado And Storm Warnings For Families Approved By Committee
| Posted in Press Releases
The Financial Services Committee approved legislation sponsored by Chairman Spencer Bachus today to equip new manufactured homes with NOAA weather radios so residents can receive earlier storm warnings. The bill was approved by a voice vote. The bill, C.J.’s Home Protection Act (H.R. 1751), is named in honor of C.J. Martin, a two-year-old who died in 2005 when a tornado struck his… Biggert: Subcommittee Will Evaluate Bill To Reform Section 8
| Posted in Press Releases
The Insurance, Housing, and Community Opportunity Subcommittee, chaired by Rep. Judy Biggert, will examine a legislative proposal to improve the nation’s largest affordable housing program during a hearing on Thursday. The Section 8 housing voucher program, administered by the Department of Housing and Urban Development (HUD), serves over two million low-income households. … Browse Documents by Date or Issue |
