Date: 2011-03-29
Speaker: GEORGE MILLER (democrat)
Chamber: H
State: California

I thank the gentlewoman for yielding. Mr. Chairman. it is with great regret but with clear intent that I rise in opposition to continuing the Federal Home Affordable Modification Program. known as HAMP. without significant changes. HAMP was designed to help millions of homeowners who had fallen victim to the financial crisis of 2008 and to the collapse of the housing market. but regrettably. at this time. it is not working under its current structure. On behalf of struggling homeowners in my congressional district trying to avoid foreclosure and stay in their homes. I have gone to great lengths to encourage the Obama administration to recognize the serious shortcomings of the HAMP program. shortcomings that have been well documented by numerous independent and authoritative sources. But the administration has been unable to successfully respond to the legitimate criticisms of HAMP and as a result the administration faces opposition to its program today on the floor of the House not only from those who oppose everything this administration does for purely partisan reasons but also from representatives like me who have genuinely sought to work with the administration to improve this program. I hope that my vote today is understood clearly by the administration as one more effort on my part. on behalf of my desperate constituents. to get the administration to recognize the urgency of the housing crisis and respond to it accordingly. I appreciate that much hard work has already been done. I know that many people are involved in this effort and many hours have been dedicated to the problem. But in the case of ongoing foreclosures nationwide and the abuses homeowners face from banks and mortgage servicers. all the hard work and effort has not been sufficient and more must be done. Homeowners in my community and across the country are being lied to. chewed up. and abused by banks and servicers in an arbitrary and capricious system that has stripped them of their homes and their livelihoods. In my district. people who are in need of substantial help in their fights against the big banks are simply not getting it. Hard as I try with my staff. and hard as my colleagues try with their staff. we cannot do enough on our own. Make no mistakeRepublicans in Washington are not on the side of homeowners in this fight. Theyre using the problems with HAMP as an excuse to once again oppose the Obama administration. just as they have opposed the Obama administration on every step it has taken to rescue the economy. for purely partisan reasons. Regrettably. the Republican approach to the housing crisis is to cut and run. to starve the economy of the investments it needs to create jobs and get the economyand the housing marketback on its feet. Their bill today does nothing to help the housing crisis and it would deprive the administration of funds that could be used to help homeowners. But their bill does one thing that I do supportit sends a message that homeowners are not getting the help they need from HAMP and that HAMP must be significantly improved or replaced in order to offer the kind of help distressed homeowners need. So far. such improvements have not taken place. And I see no sign that they will. And left with no choice but to register one more complaint by voting to end HAMP. I hope todays vote is understood clearly as a wakeup call to the administration that HAMP is not good enough today to earn my support and that it must be strengthened immediately or replaced by a program that does work. I hope my vote sends the message that banks and servicers are responsible for the abuse that is taking place in todays housing market and that we intend to hold them accountable for their behavior. and that we are committed to helping struggling homeowners survive and recover from this crisis.