Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Congressman Al Green (D-TX), Chair of the Subcommittee on Oversight and Investigations, sent a letter to Rae Oliver Davis, Inspector General for the U.S. Department of Housing and Urban Development (HUD), requesting an investigation into HUD’s decision to exclude Deferred Action for Childhood Ar... Read more »

Today, the House Financial Services Committee passed seven bills to benefit consumers, investors and the economy. The bills passed by the Committee include: H.R. 149, the Housing Fairness Act, a bill introduced by Congressman Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations, which would authorize increased funding for the Department of Housing and Urban Development’s F... Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, delivered the following opening statement at a full Committee markup to make housing more affordable and available, fight housing discrimination, and increase transparency and disclosures in the nation’s capital markets. As Prepared for Delivery In 2019, the Committee had a very productive year, and ad... Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, introduced legislation that would help prevent foreclosures for borrowers with Federal Housing Administration (FHA) mortgages by strengthening requirements for and increasing oversight of FHA mortgage servicers so that every homebuyer with an FHA mortgage is given a fair chance at avoiding foreclosu... Read more »

This week, the House Financial Services Committee, held a markup of eight bills to make homeownership more affordable and sustainable, reverse harmful actions Trump Administration appointees have taken at the U.S. Department of Housing and Urban Development (HUD), reauthorize and reform the National Flood Insurance Program (NFIP), and crack down on the illicit use of the financial system. See the ... Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, gave the following opening statement at a full Committee markup of eight bills to strengthen housing protections, crack down on illicit finance activities and reform the National Flood Insurance Program. As Prepared for Delivery Today, this Committee convenes for a markup of eight bills. The slate of l... Read more »

Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, made the following statement on the impact of the Trump shutdown on the Department of Housing and Urban Development (HUD), the agency that is responsible for expanding housing opportunities and providing safe, decent, and affordable housing for millions of families across the country: “Today marks the ... Read more »

Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement on the Trump Administration’s failure to issue a final U.S. Department of Housing and Urban Development (HUD) regulation implementing reforms to the Federal Housing Administration’s (FHA) policies regarding mortgage insurance for condominiums. “Condominiums are often the... Read more »

The bill comes on the heels of Ranking Member Waters’ bill to prevent foreclosures on FHA Borrowers. A decade after the devastating foreclosure crisis, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, continues the fight to ensure hardworking Americans can remain in their homes by introducing H.R. 6102, the Homeowner Mortgage Servicing Fairness Act o... Read more »

Today, Congresswoman Maxine Waters (D-CA) introduced the Making FHA More Affordable Act, a bill to repeal the requirement that Federal Housing Administration (FHA) borrowers pay mortgage insurance premiums for the life of the loan, and reinstate the FHA’s previous policy of only requiring borrowers to pay premiums until the outstanding principal balance reaches 78 percent of the original home valu... Read more »

Today Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, issued the following statement in response to the Department of Housing and Urban Development’s (HUD) announcement indefinitely suspending a reduction to the Federal Housing Administration (FHA) annual mortgage insurance premiums: “Just one hour after being sworn in, President Trump betrayed Amer... Read more »

In response to the U.S. Department of Housing and Urban Development’s (HUD) notice earlier today announcing the reduction of annual insurance premiums on most mortgages insured by the Federal Housing Administration (FHA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised HUD Secretary Julián Castro for his leadership in strengthening the FHA to carry o... Read more »

In opening remarks at a House Financial Services Committee hearing today with Secretary of Housing and Urban Development Julián Castro, Ranking Member Maxine Waters (D-CA) criticized Republicans for “hijacking a very important topic in order to launch attacks on the Secretary, and the Department, rather than substantively examine the issues impacting working people in this country.” Waters highlig... Read more »

Following the release of the results of the most recent independent actuarial analysis, which indicate that the Mutual Mortgage Insurance Fund (MMIF) has reached its Congressionally mandated capital reserve ratio, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, applauded FHA’s efforts to both strengthen the MMIF and expand access to homeownership for low-... Read more »

At today’s Full Committee hearing on the Federal Housing Administration (FHA), Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised Housing and Urban Development Secretary Julián Castro for his recent decision to lower FHA premiums. Over the next three years, the decision will provide an average of $900 in annual savings for approximately 2 million future... Read more »

Following President Obama’s announcement that the Federal Housing Administration (FHA) will reduce annual mortgage insurance premiums, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, praised the action as critical for the nation’s homebuyers. In October, 2014, Waters and Rep. Michael Capuano (D-MA), Ranking Member of the Subcommittee on Housing and Insurance... Read more »

Following today’s release of the Federal Housing Administration’s actuarial report, the Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following remarks: “Today’s announcement makes clear that FHA is on the right track, and is appropriately recovering from its unprecedented work keeping our housing market afloat during the worst economic crisis ... Read more »

Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement in response to the release of the Federal Housing Administration’s fiscal year 2013 Annual Report: “Although the Federal Housing Administration is not completely out of the woods, today’s numbers show crucial improvements in its solvency and stability. FHA’s Mutual Mortgage Insuranc... Read more »

Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, delivered the following opening statement at today's full Committee hearing on the Federal Housing Administration’s reserves shortfall: As prepared for delivery: Thank you, Mr. Chairman. Commissioner Galante, I am very pleased you have appeared before this committee today. I would like to applaud your work in ma... Read more »

Congresswoman Maxine Waters, Ranking Member of the Committee on Financial Services, released the following statement in response to reports of a likely shortfall in capital reserve funds at the Federal Housing Administration: “During the worst of the crisis, when the private sector virtually left the market, the Federal Housing Administration stepped up and provided the liquidity that kept our str... Read more »

In her opening statement today at a hearing of the House Committee on Financial Services, Congresswoman Maxine Waters, Ranking Member of the Committee, contested the notion that regulatory oversight is an impediment to recovery in the housing finance market. The title of the hearing called by the Republican majority is “Building a Sustainable Housing Finance System: Examining Regulatory Impediment... Read more »

Today Congresswoman Maxine Waters, Ranking Member of the House Committee on Financial Services, reintroduced the FHA Emergency Fiscal Solvency Act. The legislation, co-sponsored by Representative Michael E. Capuano, Ranking Member of the Subcommittee on Housing and Insurance, is designed to strengthen FHA and to help ensure its long-term solvency. In recent years, the agency has stepped into the v... Read more »