PATH Act to Create Sustainable Housing Finance System Passes Financial Services Committee

WASHINGTON, DC – July 24, 2013 – (RealEstateRama) — Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement after the Protecting American Taxpayers and Homeowners Act (PATH Act), H.R. 2767, a bill that would create a sustainable housing finance system, passed the Financial Services Committee.

“The passage of this legislation today is a critical step in reforming our nation’s housing finance system and ensuring the American taxpayers no longer have to fund $200 billion bailouts. Now that the Financial Services Committee has acted, I look forward to continuing to work with Chairman Hensarling and House Leadership to ensure that this bill passes both Houses and is quickly advanced to the President’s desk.”