Disposition of Residential Properties, Single Family and Multi-family, with Emphasis on Affordable Housing: Hearing Before the Subcommittee on Financial Institutions Supervision, Regulation, and Insurance, Resolution Trust Corporation Task Force of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, Second Session, June 25, 1990

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Page 6 - ... Mr. PHILLIPS. Thank you very much. Mr. BRADEMAS. The next witness is Frederick Burkhardt, president of the American Council of Learned Societies, New York, NY STATEMENT OF FREDERICK BURKHARDT, PRESIDENT, AMERICAN COUNCIL OF LEARNED SOCIETIES We welcome you, Dr. Burkhardt. Mr. BURKHARDT. Thank you. Mr. Chairman and members of the task force, I am very pleased to have the privilege of appearing before you this morning. I am Frederick Burkhardt, president of the American Council of Learned Societies,...
Page 8 - ... appraised at $50,000 or less and the average appraised value is less than $35,000. With lowinterest bond financing, a $50,000 home is affordable to a family with an income of about $18,500, or about 53 percent of median income in Texas, based on standard loan underwriting criteria. This suggests that the affordable housing program will be able to serve the needs of a broad range of lower-income families, not just those at or near 115 percent of median income. A major obstacle to implementation...
Page 46 - I think, of where the right hand doesn't know what the left hand is doing...
Page 5 - I would be pleased to answer any questions you may have. [The prepared statement of David C. Cooke can be found in the appendix.] Chairman VENTO. Thank you, Mr. Cooke.
Page 29 - I share that complaint, that there does not seem to be a great deal of interest in moving this program along.
Page 17 - I have to tell you, very little discourages me as much as hearing the RTC talk about low-income housing. I have never seen a government program administered less sympathetically. It is as if we had appointed the "Marlboro man" as surgeon general or put Gandhi at the Pentagon.
Page 83 - ... (families whose incomes do not exceed 50 percent of area median income) and...
Page 1 - Disposition of Residential Properties, Single Family and Multi-family, with Emphasis on Affordable Housing...
Page 81 - I am pleased to appear before you on behalf of the Oversight Board to discuss...
Page 52 - In addition, the RTC staff has prepared more detailed answers to the issues raised in 3 your letter of invitation, and this report has been provided as an attachment to my testimony.

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