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FHA may be setting up repeat of housing bubble, lawmakers worry" from the Los Angeles Times
Oct 8, 2009
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By Jim Puzzanghera for the Los Angeles Times -- In the wake of the mortgage meltdown, the Federal Housing Administration has emerged as a pillar of the still wobbly housing market -- providing vital insurance that enables borrowers to qualify for loans with as little as 3.5% down.
This year alone t...
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"Democrats on path to repeat housing disaster" from Examiner Politics
Sep 23, 2009
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By Byron York for the Examiner Politics -- With all the attention paid to the health care battle, ACORN, and the president's "Full Ginsburg" appearances on five Sunday talk shows, few people noticed a hearing with an exceedingly boring title -- "Proposals to Enhance the Community Reinvestment Act" -...
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"Dems push expanded Community Reinvestment Act, dismiss evidence that CRA contributed to financial meltdown; Republicans cite ACORN connection" from Washington Examiner
Sep 16, 2009
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By Byron York for the Washington Examiner -- A number of experts believe that aggressive enforcement of the 1970s-era Community Reinvestment Act contributed to the mortgage meltdown, and thus to the greater financial crisis, by requiring financial institutions to lend to unqualified borrowers. Now, ...
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Royce Opposes Irresponsible Housing Legislation
Mar 5, 2009
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Today, the House passed irresponsible housing legislation. Rep. Ed Royce (R-CA) opposed this legislation because of his concerns with the long term implications the cram down provision will likely have -- making it more costly for homeowners to obtain a mortgage in the future and hindering the hous...
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Royce Discusses Bailout Vote
Oct 3, 2008
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Today, I voted no on the $700 billion bill to bail out failing financial institutions. While I believe the underlying problems in our economy are serious and need to be addressed, the bill put forward did not do enough to protect taxpayers and did not enact the reforms needed to prevent similar econ...
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Royce Oped: Inevitable Collapse
Sep 26, 2008
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The following oped, Inevitable Collapse by Royce appeared in today's Washington Times.
Much of the debate in Washington lately has focused on the Treasury Department's proposal to address the current market turmoil through a $700 billion program. While overleveraging and poor inve...
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"Desperate Straits of Fannie, Freddie Triggered Their Seizure" from Wall Street Journal
Sep 26, 2008
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By Jessica Holzer from the Wall Street Journal -- The regulator of Fannie Mae and Freddie Mac told lawmakers Thursday that the federal government seized control of the mortgage giants after they said they wouldn't be able to raise more capital without financing from the U.S. Treasur...
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