They played a role back in 1932 and when there should have been reforms in 1989, Congress's goal was to enhance profitability. So something that was created to increase homeownership is not actually increasing homeownership. And a bunch of Insurance companies are taking advantage of [the Federal Home Loan Bank system] more than CDFIs. That is precisely what is happening. Yeah, I just want American people to know it's broken. It's not working. You got to get back to increasing home ownership and using these programs that were, you know, built for that. (04:41–04:46)
CLAIM
Asserts that insurance companies benefit more from the Federal Home Loan Bank system than Community Development Financial Institutions.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
