2008-07-26 19:21:04 -

www.alta.org - American Land Title Association Michelle Sweet, APR, 916-781-3864 (office) 714-270-9426 (cell) www.alta.org American Land Title Association CEO, Kurt Pfotenhauer, issued the following statement on the Senate's passage of H.R. 3221:

"A person's ability to buy, own and sell a home is fundamental to our nation's economy. Congress' passage of this landmark housing reform legislation will help prevent further damage to already shaky housing markets.

"The American Land Title Association applauds the Administration and Congress in developing this bipartisan legislation to make needed changes to the Federal Housing Administration, encourage refinancing, counseling and legal services to help distressed borrowers stay in their homes, stabilize home prices, better regulate Fannie Mae and Freddie Mac and protect secondary lending

markets if capital becomes less available in the future.

"This legislation is critical to struggling homeowners, the housing industry and our country's economic health, and I look forward to its enactment."

ABOUT ALTA

The American Land Title Association represents title insurance companies and their agencies nationwide on a variety of industry and legislative issues. Members of the Association search and insure land titles to protect real estate investors including homebuyers and mortgage lenders.

Bill Will Aid Efforts to Stabilize Housing Markets