Waters Responds to Committee Passage of Bill to End Affordable 30-Year-Fixed Rate Mortgage

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    By California RealEstateRama -

    WASHINGTON, D.C. – July 25, 2013 – (RealEstateRama) — Today, Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee released the following statement in response to committee passage of the inaptly-named “Protecting American Taxpayers and Homeowners Act” or “PATH Act” (H.R. 2767). H.R. 2767 is a Republican bill that would unwind Fannie Mae and Freddie Mac and remove any government support from the secondary mortgage market. However, because the bill would remove a government guarantee, it would end the affordable 30-year fixed rate mortgage and have negative impacts on the middle class, community banks and credit unions, the housing market, and America’s taxpayers

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