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Neugebauer: Nine Out of Ten Mortgages Are Guaranteed by the American Taxpayers

| Posted in Member Corner

  Housing & Insurance Subcommittee Chairman Randy Neugebauer talked about the Protecting American Taxpayers and Homeowners Act on Fox Business's The Willis Report yesterday evening. He also spoke about the housing reform plan on KFYO’s Lubbock First News. The full committee will hold a hearing on the PATH Act discussion draft this Thursday at 1 p.m. 

Weekly Rundown

| Posted in Member Corner

This week we'll hold two major full committee hearings. Be sure to check back here on the Bottom Line Blog -- and sign up for our email updates -- for more information throughout the week.  Here's what's happening:  On Wednesday, the full committee welcomes Federal Reserve Chairman Ben Bernanke at 10 a.m. for the July Humphrey-Hawkins hearing. The Fed Chief's…

The PATH Act Sustains the 30-Year Fixed Rate Mortgage

| Posted in Member Corner

Leaders of the Financial Services Committee have proposed the PATH Act – the Protecting American Taxpayers and Homeowners Act (.pdf) – to create a sustainable housing finance system for the 21st century. The proposal: Ends the taxpayer-funded bailout of Fannie Mae and Freddie Mac that has cost taxpayers nearly $200 billion – the largest bailout in history; Increases…

Weekend Must Reads

| Posted in Member Corner

Wall Street Journal: Housing Reform Breakout The House GOP moves to revive the private home mortgage market.  New York Times: Diverging Debate at Fed on When to End Stimulus Federal Reserve Chairman Ben Bernanke said on Wednesday that the Fed was likely to extend the centerpiece of its campaign to bolster the economy — keeping short-term interest rates close to zero —…

Committee Leaders Announce PATH Act to End Taxpayer Bailout and Create Sustainable Housing Finance System

| Posted in Press Releases

Leaders on the Financial Services Committee today announced the PATH Act – the Protecting American Taxpayers and Homeowners Act – to create a sustainable housing finance system.

ICYMI Praise for PATH Act

| Posted in Member Corner

Wall Street Journal Editorial: Housing Reform Breakout  One perverse result of the financial crisis is that Washington has nationalized housing finance. Taxpayers guarantee about 85% of new mortgages, some $5.1 trillion in mortgage credit and growing. So it's a big and welcome political breakthrough that House Republicans are taking…