Frank Statement Correcting FHA Housing and Homeowner Retention Act Summary

Washington, DC - House Financial Services Committee Chairman Barney Frank, today released the following statement regarding the reference to a Congressional Budget Office (CBO) cost estimate in the summary of H.R.5830:

“In our efforts to minimize costs to the government, we consulted with the Congressional Budget Office regarding aspects of program design.  The cost estimates contained in the summary were based in part on those conversations, but they were ours and should not have been attributed to CBO.”