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Congresswoman Maxine Waters (D-CA) on H.R. 6694: “"It was pushed basically by community groups and organizations who wanted to have people have an opportunity to get housing, who maybe couldn't afford the down payment, but maybe could afford to pay a mortgage every month.”
While campaigning for the opponent of Congressman Christopher Shays (CT-4), Democratic Congresswoman Maxine Waters, Chairwoman of the Financial Services Subcommittee on Housing and Community Opportunity, defended Shays’ support for H.R. 6694, the FHA Seller-Financed Downpayment Reform and Risk-Based Pricing Authorization Act, stating it would help people get housing who could afford to pay a mortgage every month. Her support contradicts the position of Shays’ opponent, who strongly opposes it.
Waters stated the legislation is being pushed by community groups and not the National Association of Realtors, as Shays’ opponent has claimed. A Democratic Senate staffer also stated it was being pushed by the Congressional Black Caucus (CBC), not the Realtors.
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