November 15, 2007

Statement of Chairman Dodd on Senate Action on FHA

ā€œIā€™m disappointed that the Senate did not pass the FHA Modernization Act today, but I will continue to work for passage of this important measure. This is far too important, and has too much bipartisan support, to be held up by a small handful. The fact is this bill can help generate quality mortgage credit for working families and help prevent them from being swallowed up in a financial sink-hole that threatens homeowners nationwide. This measure can help provide critically important affordable credit to homeowners struggling to buy a home or help homeowners seeking a way out of abusive loans and foreclosure.ā€