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FEDERAL HOUSING ADMINISTRATION'S MUTUAL

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MORTGAGE INSURANCE FUND

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TIBRARY OF CONGRESS

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COMMITTEE ON BANKING, FINANCE AND

URBAN AFFAIRS
HOUSE OF REPRESENTATIVES

ONE HUNDRED SECOND CONGRESS

FIRST SESSION

MAY 8, 1991

Printed for the use of the Committee on Banking, Finance and Urban Affairs

Serial No. 102-30

U.S. GOVERNMENT PRINTING OFFICE

42-689 5

WASHINGTON : 1991
For sale by the Superintendent of Documents, Congressional Sales Office

U.S. Government Printing Office, Washington, DC 20402

HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS

HENRY B. GONZALEZ, Texas, Chairman FRANK ANNUNZIO, Illinois

CHALMERS P. WYLIE, Ohio STEPHEN L. NEAL, North Carolina

JIM LEACH, Iowa CARROLL HUBBARD, Jr., Kentucky

BILL McCOLLUM, Florida JOHN J. LAFALCE, New York

MARGE ROUKEMA, New Jersey MARY ROSE OAKAR, Ohio

DOUG BEREUTER, Nebraska BRUCE F. VENTO, Minnesota

THOMAS J. RIDGE, Pennsylvania DOUG BARNARD, JR., Georgia

TOBY ROTH, Wisconsin CHARLES E. SCHUMER, New York

ALFRED A. (AL) McCANDLESS, California BARNEY FRANK, Massachusetts

RICHARD H. BAKER, Louisiana BEN ERDREICH, Alabama

CLIFF STEARNS, Florida THOMAS R. CARPER, Delaware

PAUL E. GILLMOR, Ohio ESTEBAN EDWARD TORRES, California BILL PAXON, New York GERALD D. KLECZKA Wisconsin

JOHN J. DUNCAN, JR., Tennessee PAUL E. KANJORSKI Pennsylvania

TOM CAMPBELL, California ELIZABETH J. PATTERSON, South Carolina MEL HANCOCK, Missouri JOSEPH P. KENNEDY II, Massachusetts FRANK D. RIGGS, California FLOYD H. FLAKE, New York

JIM NUSSLE, Iowa KWEISI MFUME, Maryland

RICHARD K. ARMEY, Texas
PETER HOAGLAND, Nebraska

CRAIG THOMAS, Wyoming
RICHARD E. NEAL, Massachusetts
CHARLES J. LUKEN, Ohio

BERNARD SANDERS, Vermont
MAXINE WATERS, California
LARRY LAROCCO, Idaho
BILL ORTON, Utah
JIM BACCHUS, Florida
JAMES P. MORAN, Virginia
JOHN W. COX, JR., Illinois
TED WEISS, New York
JIM SLATTERY, Kansas
GARY L. ACKERMAN, New York

SUBCOMMITTEE ON HOUSING AND COMMUNITY DEVELOPMENT

HENRY B. GONZALEZ, Texas, Chairman MARY ROSE OAKAR, Ohio

MARGE ROUKEMA, New Jersey BRUCE F. VENTO, Minnesota

CHALMERS P. WYLIE, Ohio CHARLES E. SCHUMER, New York

DOUG BEREUTER, Nebraska BARNEY FRANK, Massachusetts

THOMAS J. RIDGE, Pennsylvania BEN ERDREICH, Alabama

RICHARD H. BAKER, Louisiana THOMAS R. CARPER, Delaware

BILL PAXON, New York ESTEBAN EDWARD TORRES, California CLIFF STEARNS, Florida GERALD D. KLECZKA, Wisconsin

PAUL E. GILLMOR, Ohio PAUL E. KANJORSKI, Pennsylvania

TOM CAMPBELL, California STEPHEN L. NEAL, North Carolina

FRANK D. RIGGS, California
CARROLL HUBBARD, JR., Kentucky

RICHARD K. ARMEY, Texas
JOSEPH P. KENNEDY II, Massachusetts CRAIG THOMAS, Wyoming
FLOYD H. FLAKE, New York
KWEISI MFUME, Maryland

BERNARD SANDERS, Vermont
JOHN J. LAFALCE, New York
ELIZABETH J. PATTERSON, South Carolina
RICHARD E. NEAL, Massachusetts
MAXINE WATERS, California
BILL ORTON, Utah
JOHN W. COX, JR., Illinois

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APPENDIX

Prepared statements:

Cox, Hon. John W., Jr.

DelliBovi, Alfred A...

Oakar, Hon. Mary Rose

Roukema, Hon. Marge....

Thomas, Hon. Craig ..

Torres, Hon. Esteban E..

Wylie, Hon. Chalmers P.

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ADDITIONAL MATERIAL SUBMITTED FOR THE RECORD

Gonzalez, Hon. Henry B.:

Questions to Mr. DelliBovi

Responses ...

Oakar, Hon. Mary Rose:

Questions to Mr. DelliBovi

Responses ....

Roukema, Hon. Marge:

Questions to Mr. DelliBovi

Responses ....

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FEDERAL HOUSING ADMINISTRATION'S
MUTUAL MORTGAGE INSURANCE FUND

WEDNESDAY, MAY 8, 1991

HOUSE OF REPRESENTATIVES,
SUBCOMMITTEE ON HOUSING AND COMMUNITY

DEVELOPMENT,
COMMITTEE ON BANKING, FINANCE, AND URBAN AFFAIRS,

Washington, DC. The subcommittee met, pursuant to call, at 2 p.m., in room 2128, Rayburn House Office Building, Hon. Henry Gonzalez (chairman of the subcommittee) presiding.

Present: Chairman Gonzalez, Representatives Vento, Flake, Patterson, Waters, Cox of Illinois, Roukema, Wylie, Baker, Paxon, Gillmor, and Thomas of Wyoming.

Chairman GONZALEZ. The subcommittee will please come to order. We are here today in order to ascertain at this point the progress on the implementation by HUD of the reform provisions contained in the Act of last year, which is a lot later than what we had anticipated when we were having the conference on the National Affordable Housing Act last year on the Mutual Mortgage Insurance Fund.

I am going to dispense with the formal reading of the opening remarks. This is an important hearing and great weight should be given to this hearing. While it is true that we have had some improvement in reporting, in many ways the Congress has not been enjoying some of the interim reports that we used to get.

When I see the type of approach by way of the promulgation of rules in this area, as well as in others, such as section 102, I regret to say that I am greatly troubled. It looks to me like the hope and the promise that I saw clearly in this administration is receding fast and going back to what I consider to be the unacceptable prior administration's ideological and inadequate and insufficient and unacceptable approach. This is true despite the critical housing crisis this country has been undergoing and continues to undergo.

I cannot possibly stress how important it is that we start focusing and obtaining the proper perspective of the size, the scale, the scope, and the depth of the difficulty with respect to housing and shelter that this country is now undergoing and has for some time.

The advent of the type of homelessness that we now almost shrug our shoulders at and take for granted was not a happenstance, it was not accidental. There is cause and effect. Those of us who had the privilege to be observers over many years with good memory as to the initial period before the war and during the de

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