Sen. Wayne Allard, chairman of the Subcommittee on Housing and Transportation, has announced a hearing on congressional proposals affecting reserves held by the Federal Housing Administration.

"The purpose of this hearing is twofold," Allard said. "First, we want to determine the adequate and safe level of FHA reserves. Second, if there are excess reserves, should we refund that to the FHA homeowners whose premiums have built the reserves?"

WHAT:
Subcommittee on Housing and Transportation Subcommittee
"Congressional proposals impacting FHA reserves"

WHEN:
9:30 a.m. Tuesday, Sept. 12, 2000

WHERE:
Room 538, Dirksen Senate Building

WHO:
Mr. Stanley J. Czerwinski
Associate Director, Housing and Community Development Issues
General Accounting Office
Dr. John C. Weicher
Senior Fellow
Hudson Institute

Mr. Jordan Clark
President, United Homeowners Association
Washington, DC
Mr. Joe Flatley
President and CEO
Massachusetts Housing Investment Corporation

Ms. Caroline Murray
Anti-Displacement Project
Boston, Massachusetts

Mr. Thomas Schatz
President, Council for Citizens Against Government Waste
Washington, DC