“On Tuesday, I had the honor of representing District 30 during President Obama’s visit to
“His plan includes fair housing finance reform that would put private capital at the center of the housing finance system and would promote home financing products like the 30-year fixed rate mortgage. Additionally, the president spoke about ending Fannie Mae and Freddie Mac’s failed business practices, which he said forced taxpayers to bear the burden of bad loans and bailouts. He also said he wants to ensure prospective homeowners get a simplified, three-page mortgage disclosure form, to increase incentives for lenders who provide quality loans and to help borrowers find the right lender by leveling the playing field for all financial institutions.
“This plan is an indication that the president understands that housing is a priority in
“Ultimately, I agree with what President Obama said about restoring the American dream. We need to reassure people that the American dream can be achieved with hard work and fair play. We have to focus on building a sustainable and equitable system that promotes homeownership and economic security.”