Mortgage Reform and Anti-Predatory Lending Act

Floor Speech

MORTGAGE REFORM AND ANTI-PREDATORY LENDING ACT -- (House of Representatives - May 07, 2009)

BREAK IN TRANSCRIPT

Mr. BUCHANAN. I want to thank the gentleman for yielding.

I rise in support of this important bipartisan amendment.

Defective Chinese drywall has taken a toll on thousands of homeowners. Many, including my constituent, John Medico of Bradenton, are now finding their homes uninhabitable.

John left his new home and now rents a place. He is forced to not only to pay the mortgage, but he is paying rent on his new place. And this has happened to a lot of people in my area in southwest Florida.

Earlier this year I wrote the U.S. Trade Representative and the Federal Trade Commission asking them to take the appropriate steps to confront this problem.

I am concerned about the public health effects of the problem. Anecdotal evidence points to the Chinese drywall being responsible for the chronic respiratory problems in our region. Also, pregnant women have been advised to move out of their homes for the safety of the unborn.

I am grateful to the gentleman for bringing this amendment forward. I look forward to working with my colleagues on both sides of the aisle of Florida on this important issue and helping our constituents resolve this problem.

Mr. FRANK of Massachusetts. Mr. Chairman, I ask unanimous consent to reconsider my hasty action and take back my time.

The CHAIR. Without objection, the gentleman from Massachusetts may reclaim his remaining time.

There was no objection.

BREAK IN TRANSCRIPT

Source