[Congressional Record Volume 157, Number 44 (Wednesday, March 30, 2011)]
[Extensions of Remarks]
[Page E557]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          PERSONAL EXPLANATION

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                           HON. JACKIE SPEIER

                             of california

                    in the house of representatives

                       Wednesday, March 30, 2011

  Ms. SPEIER. Mr. Speaker, I was unfortunately unable to cast votes on 
the evening of March 29, 2011.
  On rollcall 194, I would have voted no.
  On rollcall 195 I would have voted aye.
  On rollcall 196 I would have voted aye.
  On rollcall 197, the motion to recommit, I would have voted aye.
  On rollcall 198, final passage, I would have voted aye.
  The Making Home Affordable Program simply has not protected 
homeowners from foreclosure, or ensured that mortgage servicers work 
with homeowners in good faith to achieve loss mitigation that works for 
homeowners, investors and our communities. Despite clear and repeated 
calls for reform of the program from the Congressional Oversight Panel, 
the Special Inspector General for the TARP, and the GAO, changes to the 
program have been too little and too late. While my constituents and 
homeowners across the country continue to struggle through good faith 
efforts to keep their homes, banks are again making record profits and 
paying large bonuses to their executives and employees.
  Despite well documented abuses of homeowners by mortgage servicers 
participating in the HAMP, no servicers have been sanctioned or fined 
for violations of HAMP program requirements, despite clear authority to 
do so. I do not take this position lightly, particularly in light of 
the fact that no alternative program to help homeowners is offered. 
However I simply cannot continue to offer support for a program that 
has protected banks and servicers at the expense of my constituents.

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