Press Releases

House Committee on Financial Services Chairman French Hill (AR-02) and Subcommittee on Financial Institutions Chairman Andy Barr (KY-06) issued the following statement in support of President Trump's Executive Order expanding access to mortgage credit: 

“I commend President Trump’s Executive Order Promoting Access to Mortgage Credit. The President and his Administration have shown tremendous leadership in helping to ensure that community banks and credit unions can once again participate fully in the mortgage lending market and expand access to affordable home loans for American families. Since the enactment of Dodd-Frank, community banks and credit unions have increasingly scaled back their mortgage lending due to burdensome and complex regulatory requirements. Excessive and unnecessary HMDA data collection mandates, overly prescriptive Ability to Repay and Qualified Mortgages rules, restrictive capital requirements, needless supervisory restrictions on lending to homebuilders, and outdated appraisal requirements are clear examples of misguided Washington policies that have crippled our community lenders. That is why it is so important to recognize that strengthening community banks and credit unions– key providers of mortgages for many Americans – and expanding access to affordable housing are fundamentally connected. These are priorities for our Committee, which is why I am working to advance the Main Street Capital Access Act and the Housing for the 21^st Century Act," said Chairman Hill.

“President Trump is restoring the American Dream of homeownership. For too long, big government regulations drove up borrowing costs and made it harder for families to buy a home. By empowering community banks and increasing competition in lending, more Americans will enter the housing market and make our economy stronger. House Republicans stand ready to work with the President to make these policies permanent and I commend him for his leadership,” said Subcommittee Chairman Barr.

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