|FOR IMMEDIATE RELEASE:||
CONTACT: Jesse Jacobs - 202-224-4524
|Monday, September 9, 2002||
Craig Davis - 202-224-7391
Senator Paul S. Sarbanes (D-MD), Chairman of the Banking, Housing, and Urban Affairs Committee, announced that the full Committee will meet to conduct a hearing on the nomination of Mr. Wayne A. Abernathy, of Virginia, to be Assistant Secretary of the Treasury for Financial Institutions. In addition, the committee will meet in executive session to conduct mark-ups of the Abernathy nomination as well as S.2239, the FHA Downpayment Simplification Act of 2002; and of S.1210, reauthorizing the Native American Housing and Self-Determination Act of 1996 (NAHASDA).
The FHA Downpayment Simplification Act of 2002 amends the National Housing Act to simplify the downpayment requirements for FHA mortgage insurance for single-family homebuyers. The reauthorization bill, S.1210, was referred from the Committee on Indian Affairs and extends NAHASDA through FY 2006 with minor modifications. In 1996, Congress passed NAHASDA in order to strengthen federal housing assistance for tribal communities.
Wayne Abernathy has served with the Senate Banking, Housing and Urban Affairs Committee since 1981. He is presently the Republican Staff Director and served as Committee Staff Director from 1999-2001. His other positions include Staff Director for the Subcommittee on Securities, and Economist to both the Committee and to the Subcommittee on International Finance and Monetary Policy. Abernathy received a bachelor's degree from Johns Hopkins University and a Master's degree from the School of Advanced International Studies at Johns Hopkins.
The hearing and mark-up will be held: