Hillary on producing legislation 2 years ago on the mortage issue

[rodeodance]

Forum Name General Discussion: Primaries
Topic subject Google is your friend
Topic URL http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x4620680#4621528
4621528, Google is your friend
Posted by Marie26 on Sat Feb-16-08 07:07 PM

It really is. All the Obamaistas are claiming that she's never done anything about the mortgage crisis in the Senate, when she has. Now they back-track to, oh, she didn't fight for it. What does that even mean? Of course any Senator will fight for passage of legislation that they have sponsored & introduced. That's all they can do - they can't control the rest of the Senate. HRC introduced this bill in early 2006, during the 109th Repuke Congress. Of course the Republicans wouldn't pass it. But this tells me that she saw this mortgage crisis coming from far away. She reintroduced the bill in the 110th Congress, and the bill was approved by the Senate.

I've googled this for you as a favor -

First introduced May 2006 - http://www.govtrack.us/congress/bill.xpd?bill=s109-3173

Clinton re-introduced it in 2007 - http://www.govtrack.us/congress/bill.xpd?bill=s110-947

The bill passed overwhelmingly, w/93 Senators voting for the legislation.

Sen. Clinton statement on Senate approval of FHA reform -

http://clinton.senate.gov/news/statements/details.cfm?id=289092

She has also introduced a separate bill, called the "American Home Ownership Preservation Act of 2007". This bill would require mortgage companies to fully disclose the terms of a mortgage & prevent abusive & predatory loan practices.

"9/27/2007--Introduced.

S. 2114: American Home Ownership Preservation Act of 2007

A bill to amend the Truth in Lending Act, to provide for enhanced disclosures to consumers and enhanced regulation of mortgage brokers, and for other purposes.

Sponsor:

Sen. Hillary Clinton (no cosponsors)

http://www.govtrack.us/congress/bill.xpd?bill=s110-2114

And another bill to help people who lose their homes as a result of natural disasters like Katrina.

S. 2310: Homeowners' Defense Act of 2007

A bill to establish a National Catastrophic Risks Consortium and a National Homeowners' Insurance Stabilization Program, and for other purposes.

Sponsor:
Sen. Hillary Clinton

http://www.govtrack.us/congress/bill.xpd?bill=s110-2310

She's also introduced a bill that would create incentives for employers to assist employees in their home payments - allowing more working class workers to own their own home.

S. 1078: Housing America's Workforce Act

A bill to amend the Internal Revenue Code of 1986 to provide incentives for employer-provided employee housing assistance, and for other purposes.

Sponsor:
Sen. Hillary Clinton

Sen. Clinton speech in support of bill:

"The sad truth is that across the Nation, working full-time no longer guarantees the security and comfort of a home. The shortage of workforce housing has emerged as a national crisis as housing costs have far outgrown the rate of inflation in many markets. As the gap between wages and housing costs widens, affordable housing is pushed beyond the reach of an increasing number of working families.

As a result, people who provide the bulk of vital community services--teachers, firefighters, police officers, and laundry and restaurant workers--often cannot themselves afford to live in the high-priced communities in which they serve. That is why I am reintroducing the Housing America's Workforce Act.

This bill creates incentives to expand employer assisted housing initiatives across the Nation. ... Research has shown that this legislation is needed. Recent data shows that the number of working families with critical housing problems, defined as those paying more than half of their income for housing and/or living in dilapidated conditions, has increased 67 percent from 1997 to approximately 5 million families."

http://www.govtrack.us/congress/bill.xpd?bill=s110-1078


She also introduced another bill just two weeks ago to reduce foreclosures.


January 30, 2008

Senator Clinton Introduces the Mortgage Refinancing Initiative Act of 2008

Legislation Would Enable Tens of Thousands of Families in Danger of Foreclosure to Refinance their Mortgages

Washington, DC – In response to the escalating housing crisis that is devastating communities, shaking our economy, and putting the financial security of millions of families at risk, Senator Hillary Rodham Clinton introduced the Mortgage Refinancing Initiative of 2008 which would provide an opportunity for at-risk households to refinance unworkable mortgages. Newly released data shows that 1.3 million households received foreclosure notices last year. Mounting foreclosures are contributing to the weakness in house prices, and therefore even families who are not at risk of losing their homes are affected. The decline in home prices has already cost families an estimated $1.6 trillion.

“We can reduce foreclosures by helping families replace costly and risky mortgages with stable, affordable ones. Today I am introducing the Mortgage Refinancing Initiative Act of 2008 to help states do just that”, said Senator Clinton.

Senator Clinton’s proposal has been applauded by groups such as the National Association of Realtors who have called Senator Clinton’s proposal a “flexible, timely and much-needed improvement to current law”, that would ensure that “more individuals and families would be able to stay in their homes without the threat of foreclosure.”

http://clinton.senate.gov/news/statements/details.cfm?id=291526