Statement of Administration Policy: H.R. 5072 - FHA Reform Act of 2010

(House Rules)

(Rep. Waters, D-California, and 5 cosponsors)

The Administration strongly supports House passage of H.R. 5072, the FHA Reform Act of 2010. The Administration believes these reforms are sound policy. They will reduce the risk to the FHA fund, facilitate the return of private capital to the mortgage market, help to replenish the FHA's capital reserves, and maintain the long-term health of the FHA Mutual Mortgage Insurance fund while protecting the interests of low-income home buyers. These issues are important to FHA's ability to facilitate our recovery while protecting the taxpayer. The Administration urges House passage of the Act to strengthen FHA, which should retain the ability to respond to market conditions.