Reps. Mike Thompson, Doris Matsui, George Miller, Anna Eshoo Issue Statement on Meeting with FHFA Acting Director DeMarco
October 6, 2011
U.S. Reps. Mike Thompson (CA-1), Doris Matsui (CA-5), George Miller (CA-7) and Anna G. Eshoo (CA-14) today issued the following statements after meeting with the Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco:
“Our economy will continue to suffer and taxpayer confidence will never return if we do not help hard working families navigate through this mortgage nightmare,” said Thompson. “Taxpayers watched as the big banks and bankers were bailed out and now they are losing their homes as their government and the FHFA watches. Nothing the FHFA or the Administration has done has worked. This is unacceptable. I call on Acting Director DeMarco and the Administration to take action to help our families that are living paycheck to paycheck, struggling to keep roofs over their heads. Our mortgage crisis is a shared crisis, hurting not only those taxpayers caught in the housing disaster, but also their families, friends and our communities.”
“Communities like my hometown of Sacramento continue to reel as a result of the financial meltdown the big banks caused, yet these same banks continue to stand by and do almost nothing to help those who are struggling,” said Matsui. “Meanwhile, refinancing plans have not been effective enough for Sacramento families. It is critical that lending institutions step up now and work with responsible homeowners seeking affordable loan modifications to keep their families in their homes. Today Acting Director DeMarco heard very clearly from members of the Housing Stabilization Task Force - including myself - that the FHFA must do more to stabilize our nation's housing market. Current programs are not doing enough for families in my district - and that must start changing immediately.”
“My constituents are being chewed up and tossed out by the largest companies in this country - and so far, we haven't seen enough done to help them out of this mess,” said Miller after the meeting. “Today's meeting was about one thing - sending a message in the strongest possible terms that the Obama Administration must take the concerns of our homeowners seriously. Our constituents must be heard, and the Administration should focus their efforts on helping homeowners, not big banks.”
"There has been a complete failure on the part of the Obama Administration to address the catastrophic wave of home foreclosures across the country, leaving families in despair and wreaking havoc in countless communities,” said Eshoo. “In order for our economy to expand, an effective policy must be put into place to turn this devastation of housing around. The Administration's weak responses have barely touched 'the tip of the iceberg,' and today's meeting with FHFA Acting Director Edward Demarco was a deeply disappointing one, with few answers and fewer solutions. My constituents deserve so much better than this."
Congressman Mike Thompson is proud to represent California's 1st Congressional District, which includes the Counties of Del Norte, Humboldt, Lake, Mendocino, Sonoma, Napa, and Yolo. He is a senior member of the House Ways and Means Committee and the House Permanent Select Committee on Intelligence. Rep. Thompson is also a member of the fiscally conservative Blue Dog Coalition and sits on the bipartisan, bicameral Congressional Wine Caucus.
“Our economy will continue to suffer and taxpayer confidence will never return if we do not help hard working families navigate through this mortgage nightmare,” said Thompson. “Taxpayers watched as the big banks and bankers were bailed out and now they are losing their homes as their government and the FHFA watches. Nothing the FHFA or the Administration has done has worked. This is unacceptable. I call on Acting Director DeMarco and the Administration to take action to help our families that are living paycheck to paycheck, struggling to keep roofs over their heads. Our mortgage crisis is a shared crisis, hurting not only those taxpayers caught in the housing disaster, but also their families, friends and our communities.”
“Communities like my hometown of Sacramento continue to reel as a result of the financial meltdown the big banks caused, yet these same banks continue to stand by and do almost nothing to help those who are struggling,” said Matsui. “Meanwhile, refinancing plans have not been effective enough for Sacramento families. It is critical that lending institutions step up now and work with responsible homeowners seeking affordable loan modifications to keep their families in their homes. Today Acting Director DeMarco heard very clearly from members of the Housing Stabilization Task Force - including myself - that the FHFA must do more to stabilize our nation's housing market. Current programs are not doing enough for families in my district - and that must start changing immediately.”
“My constituents are being chewed up and tossed out by the largest companies in this country - and so far, we haven't seen enough done to help them out of this mess,” said Miller after the meeting. “Today's meeting was about one thing - sending a message in the strongest possible terms that the Obama Administration must take the concerns of our homeowners seriously. Our constituents must be heard, and the Administration should focus their efforts on helping homeowners, not big banks.”
"There has been a complete failure on the part of the Obama Administration to address the catastrophic wave of home foreclosures across the country, leaving families in despair and wreaking havoc in countless communities,” said Eshoo. “In order for our economy to expand, an effective policy must be put into place to turn this devastation of housing around. The Administration's weak responses have barely touched 'the tip of the iceberg,' and today's meeting with FHFA Acting Director Edward Demarco was a deeply disappointing one, with few answers and fewer solutions. My constituents deserve so much better than this."
Congressman Mike Thompson is proud to represent California's 1st Congressional District, which includes the Counties of Del Norte, Humboldt, Lake, Mendocino, Sonoma, Napa, and Yolo. He is a senior member of the House Ways and Means Committee and the House Permanent Select Committee on Intelligence. Rep. Thompson is also a member of the fiscally conservative Blue Dog Coalition and sits on the bipartisan, bicameral Congressional Wine Caucus.
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