Frank Statement on Preston’s Announcement of Hope for Homeowners Improvements

Washington, DC - House Financial Services Committee Chairman Barney Frank (D-MA), today released the following statement on HUD Secretary Steve Preston’s announcement of improvements to the Hope for Homeowners program.

            “I welcome Secretary Preston’s announcement today that the Oversight Board will be making a number of important and constructive changes to the FHA Hope for Homeowners program that will improve access to mortgage refinancing for more homeowners.  These are very helpful steps and reflect a commitment to meeting the need for more aggressive action to diminish foreclosures.  There are further steps that can be taken in this regard and I look forward to working with Secretary Preston to achieve them.”