Frank Reaction to Commentary Regarding Increasing Loan Limits

Washington, DC - Rep. Barney Frank, chairman of the House Financial Services Committee, today made the following statement in reaction to news and commentary that the House has not moved on increasing loan limits:

            “I am pleased to see increasing support for raising the loan limit.  This was something which we put into the GSE bill back in May and later in the FHA bill.  In fact, the number we proposed is not as high as we wanted it to be because we faced so much resistance from the Administration.  For example, the Statement of Administration Position on the GSE bill states: 'The Administration opposes provisions that would increase the conforming loan limit, thus diluting the housing GSEs’ commitment of low-income buyers.'  We appreciate there is renewed calls for increasing the loan limits, and we will work with the Senate and the Administration to enact an appropriate limit."