Order. I now recognize myself. I am. Sorry with that objection, the, chairs in our authorized to declare recess. Of the, committee and anytime. Members of the, committee not on the subcommittee, are authorized to participate in twos hearing. And, the, hearing is entitled, an examination of the federal housing administration. And its impact on homeownership in america. I now recognize, myself, to give an opening statement. Okay. There was a time, when i have a chase policies, explicitly denied access to the American Dream of Home Ownership. Two black families and people of color. Making only only on home a privilege, afforded primarily to white americans. Or contributing to the racial wealth gap as we know. It as of the third quarter, of 2019, the white homeownership rate is 73 compared to nearly 48 for that he knows and 43 for black home owners. Today fha plays an Important Role in the Housing Finance system. And is helping to ensure that access to homeownership is broadly available in
An examination of the federal housing administration. And its impact on homeownership in america. I now recognize, myself, to give an opening statement. Okay. There was a time, when i have a chase policies, explicitly denied access to the American Dream of Home Ownership. Two black families and people of color. Making only only on home a privilege, afforded primarily to white americans. Or contributing to the racial wealth gap as we know. It as of the third quarter, of 2019, the white homeownership rate is 73 compared to nearly 48 for that he knows and 43 for black home owners. Today fha plays an Important Role in the Housing Finance system. And is helping to ensure that access to homeownership is broadly available in in 2019 alone, they have over 615,000 borrowers become home owners for the first time. With over 33 of the markets endorsements serving minority borrowers and over half serving low to moderate income borrowers. Fha also plays a vital role in expanding access to affordable