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ICYMI: Chairman Hensarling on Bloomberg’s Capitol Gains

| Posted in Member Corner

“…if you don't get rid of the permanent, everyday government guarantee in the secondary mortgage market, I fear all you've done is put Fannie and Freddie in the Federal Witness Protection Program. Give them a facelift, give them new names, maybe they come out as Eddie and Annie. And yet they're released on an unsuspecting public.”   Hensarling on the PATH Act – Protecting…

Sunday Video Message | Rep. Randy Neugebauer

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  Housing & Insurance Subcommittee Chairman Randy Neugebauer (Facebook | Twitter) delivers this week's Sunday Video Message on the PATH Act. The full committee will markup the PATH Act this Tuesday at 10:15 a.m. Read more about the act -- including how it sustains the 30-year fixed rate mortgage and enables FHA to play an expanded role in times of crisis -- on our Bottom Line Blog. 

Weekend Must Reads

| Posted in Member Corner

AEI: FHA Watch – July 2013 The Protecting American Taxpayers and Homeowners (PATH) Act provides for comprehensive reform of the government’s role in housing finance. Heritage Foundation: Dodd-Frank at Year Three: Onerous and Costly July 21 marks the third anniversary of Dodd–Frank, Washington’s massive regulatory response to the housing market collapse, the failure of major…

PATH Act “Enables FHA to Play Expanded Role in Times of Crisis”

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Rep. Ed Royce hit the nail on the head this week when he correctly pointed out that the PATH Act does not eliminate all government guarantees as some have incorrectly claimed. Courtesy of Rep. Royce’s office, below is his exchange with Federal Reserve Chairman Ben Bernanke this week on how the PATH Act preserves the FHA’s countercyclical role by allowing it to insure loans to any…

A Reminder of the Corruption That Helped Birth the Biggest Bailout in History

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“Fannie Mae will never impose a cost on the American taxpayer…” – James A. Johnson, Chief Executive Officer of Fannie Mae, testifying before the House of Representatives, April 17, 1996  “Under the direction of James A. Johnson, Fannie Mae’s calculating and politically connected chief executive, the company capitalized on its government ties, building itself into the largest and most…

Fact Finding: 11 Hearings on Sustainable Housing Finance Reforms in 2013

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UPDATE: After releasing details of the PATH Act, the full committee held a hearing entitled “A Legislative Proposal to Protect American Taxpayers and Homeowners by Creating a Sustainable Housing Finance System” on July 17, 2013, bringing the total to 12 hearing and more than 50 witnesses on this subject since January. We've blogged before about the importance of…