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House Proceeding on May 7th, 2009 :: 1:11:10 to 1:13:35
Total video length: 1 hours 22 minutes Stream Tools: Stream Overview | Edit Time

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Donald A. Manzullo

1:10:56 to 1:11:17( Edit History Discussion )

Donald A. Manzullo: that the consumer will pay over the life of the loan as a percentage of the pr loan. this will help the consumer know better what they were paying. i would hope my financial literacy would get in and the predatory lending but i support bill. we are helping to -- the american taxpayer and the consumer.

Donald A. Manzullo

1:11:10 to 1:13:35( Edit History Discussion )
Speech By: Donald A. Manzullo

Donald A. Manzullo

1:11:18 to 1:11:39( Edit History Discussion )

Donald A. Manzullo: the speaker pro tempore: the gentlewoman yields back. the gentleman from texas. mr. sessions: i want to yield tohe gentleman from illinois, mr. manzullo. the speaker pro tempore: the gentleman is recognized for two minutes. mr. manzullo: madam chairman, i rise in op bill. if you take a look at the different lock in periods, add to that additional costs for appraisals that are

Donald A. Manzullo

1:11:40 to 1:12:00( Edit History Discussion )

Donald A. Manzullo: necessitated by a flawed system in this bill, it's going to cost the industry close to $3 billion or an extra $700 per loan. that's the hidden cost of this bill and that's why the bill should be defeated. i offered to the rules committee an amendment which unfortunately is not allowed to

Donald A. Manzullo

1:12:01 to 1:12:22( Edit History Discussion )

Donald A. Manzullo: come to the floor and i know that the taxpayers are greatly distressed that this body is supposed to be for free and open debate and yet members c to come to the floor. there is an agreement that is signed between the attorney general of new york and the people who regulate fannie mae

Donald A. Manzullo

1:12:23 to 1:12:43( Edit History Discussion )

Donald A. Manzullo: anfrede frede on something called the -- freddie mac on something called the home valuation conduct. it's supposed to regulate the mischief that took place between the lenders in order to make the loans. the problem is this. is that the agreement still allows that conclusion or the opportunity for conclusion.

Donald A. Manzullo

1:12:44 to 1:13:05( Edit History Discussion )

Donald A. Manzullo: in fact, the banks of this country can own appraisal management companies which are supposed to be third party independent agents to find an indendent appraiser in order to make sure that the property is vetted correctly. and i ask that that agreement be put on hold for a year so that the conclusion and the

Donald A. Manzullo

1:13:06 to 1:13:27( Edit History Discussion )

Donald A. Manzullo: opportunity to stop the conclusion could be studied and better safeguards put into effect. i was denied that opportunity. the american people were denied the opportunity to be heard on the floor because the constrictive nature that the majority has placed upon us. most americans think that if a member of congress has an

Donald A. Manzullo

1:13:28 to 1:13:36( Edit History Discussion )

Donald A. Manzullo: amendment that amendment cou easily come to the floor and be heard. that did not happen in this case. and because of that it could

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