News Release

HUD No. 07-182
Steve O'Halloran
(202) 708-0980
www.hud.gov/news/

For Release
Friday
December 14, 2007

STATEMENT BY HUD SECRETARY ALPHONSO JACKSON ON PASSAGE OF FHA MODERNIZATION LEGISLATION BY THE U.S. SENATE

"I applaud the Senate's overwhelming passage today of an FHA Modernization bill that will provide hundreds of thousands of hard working American families a safer mortgage option -- whether they're looking to purchase a home or refinance an existing mortgage. HUD's Federal Housing Administration can provide many homeowners with a fairer, more affordable, and more sustainable alternative to costly subprime loans. I especially appreciate the bipartisan leadership of Senators Chris Dodd and Mel Martinez in our effort to reform FHA.

I strongly urge the House and Senate to send the President a bill he can sign before the end of the year. Keeping a roof over the heads of families is the best gift Congress could give the American public this year."

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