ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release December 16, 2003 #03-57
E-mail: [email protected]

AMERICAN DREAM DOWNPAYMENT ACT SIGNING

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Statement by Diane Casey-Landry, president and CEO, America’s Community Bankers, on the American Dream Downpayment Act, which was signed into law today by President Bush:

“Community banks make the American dream of homeownership a reality for millions of Americans each year. This legislation addresses one of the most difficult obstacles that low-income, first-time homebuyers face — finding the resources to cover the downpayment and closing costs.

“America’s Community Bankers has been an avid supporter of this legislation since President Bush included it in his budget as part of his broader goal of increasing homeownership for all Americans. We applaud the hard work of former HUD Secretary Mel Martinez and the principal sponsors of the legislation, Rep. Katherine Harris (R-Fla.) and Sen. Wayne Allard (R-Colo.), in making the program a reality.

“As originators of one in every four mortgage loans made in this country, and innovators of products and programs focused on meeting the needs of first-time, low-income, minority and immigrant homebuyers, America’s Community Bankers is proud to be a partner in this important effort to make the dream of homeownership a reality.”

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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