Reps. George Miller, Maxine Waters, and Al Green Respond to HUD Down Payment Assistance Rule

(Washington, DC)--In response to the rule issued today by the Department of Housing and Urban Development terminating the ability of down payment assistance providers to participate in the Federal Housing Administration program, Representative Gary G. Miller, Chairwoman Maxine Waters, and Representative Al Green issued the following statement:

“This rule would effectively eliminate many legitimate down-payment assistance programs.  If there are concerns with certain down payment assistance providers, HUD should address these individual providers, and put the controls in place to weed out the bad actors, rather than completely eliminating a program that has successfully expanded homeownership opportunities for millions of families.  This rule has generated strong opposition from Congress along with thousands of homeowners who have benefited from these programs, which HUD has disregarded.  Down-payment assistance providers have given over 600,000 families the means to take a critical step in realizing the dream of owning a home.  Today HUD has effectively terminated programs that help build communities and preserve homeownership opportunities for those Americans who need assistance with down-payments and closing costs.  We will continue to fight every effort to eliminate rather than reform this important tool that has built financial strength and formed lasting communities.”