Reply #41: Here's some of what she's done

[Marie26]

Aug. 7, 2007

Hillary Clinton: It's the mortgage lending industry, stupid -

Hillary Clinton, in Derry, N.H., talking about Americans faced with a "dream of homeownership has turned into a nightmare of escalating payments and threatening letters."

Now, there are those who will tell you -- they tell me this -- "Well, that's just the way the market works, Hillary. Nothing we can do about it." Or they'll say, "Buyer beware. People just need to be more careful." Well, now, that's easy to say when it's not your home being taken away.

I don't think unscrupulous mortgage brokers should be part of how our markets work. I don't think families should be lured into buying homes they can't afford so brokers and mortgage companies can make a bigger profit. I don't think people should have to be on the lookout for unfair clauses buried on Page 700 of the fine print. And I don't think it's right that so many hard-working, responsible families across this country are losing their most precious possession and their most valuable asset.

Shades of 1992! If there is a clear and apparent economic issue to campaign on during the summer of 2007, it's undoubtedly the mortgage lending mess, spreading like an oil slick across both the "real economy" and Wall Street. Clinton deftly seized the moment Tuesday morning: Her speech offered a solid summary of how the mortgage lending industry zoomed out of control during the housing boom, and offered some explicit proposals on how to fix it.

http://www.salon.com/tech/htww/2007/08/07/hillary_clinton_mortgage/index.html


March 21, 2007

Clinton Reintroduces the 21st Century Housing Act

Legislation would Modernize the Federal Housing Administration and Provide a Strong Alternative to Subprime and Risky Mortgages

"Washington, DC - Amid continuing deterioration in the subprime mortgage industry, Senator Hillary Rodham Clinton reintroduced legislation to provide more homebuyers with a safer and more effective alternative to subprime mortgages. The 21st Century Housing Act will modernize the Federal Housing Administration and allow more homebuyers to take advantage of the FHA mortgage insurance program.

"With the meltdown in the subprime housing market, it is clear that there needs to be a real alternative for more working families who want to achieve the dream of home ownership without having to jeopardize their financial futures with a risky mortgage product," said Senator Clinton. "Modernizing the FHA will be an effective way of providing that alternative and I will press in the Senate to take this long overdue step for our families," said Senator Clinton.

http://www.senate.gov/~clinton/news/statements/details.cfm?id=271038