Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today released the following statement in response to President Barack Obama’s speech outlining his plan for housing finance reform in Phoenix.
“I’m pleased that the President is making housing finance reform a top priority, and has outlined an approach that is consistent with our recently-released House Financial Services Committee Democratic Principles. Democrats in the House have been taking this effort very seriously for quite some time and stand ready to work with the President on reforming our nation’s housing finance system in a way that protects homeowners, taxpayers, and renters and maintains the affordability of the 30-year fixed rate mortgage. Unfortunately, House Republicans have politicized housing finance reform, by passing unworkable legislation out of the Committee that completely ignores the robust and substantive discussions happening among other stakeholders. Further, by stalling the confirmation of Representative Mel Watt for Federal Housing Finance Agency Director, Senate Republicans are again denying the President the ability to put in place his selection to lead the agency through the transition. I look forward to working with the President and serious partners in the House and Senate on this important issue.”