OVERSIGHT OF HOME LOAN GUARANTY PROGRAM HEARING BEFORE THE SUBCOMMITTEE ON HOUSING AND MEMORIAL AFFAIRS OF THE COMMITTEE ON VETERANS’ AFFAIRS HOUSE OF REPRESENTATIVES ONE HUNDRED THIRD CONGRESS FIRST SESSION JULY 22, 1993 Printed for the use of the Committee on Veterans’ Affairs Serial No. 103-23 a U.S. GOVERNMENT PRINTING OFFICE 4-313 0 WASHINGTON : 1994 For sale by the U.S. Government Printing Office Superintendent of Documents, Congressional Sales Office, Washington, DC 20402 ISBN 0-16-063479-3COMMITTEE ON VETERANS’ AFFAIRS GY. (SONNY) MONTGOMERY, Mississippi, Chairman DON EDWARDS, California BOB STUMP, Arizona DOUGLAS APPLEGATE, Ohio CHRISTOPHER H. SMITH, New Jersey LANE EVANS, Ilinois DAN BURTON, Indiana TIMOTHY J. PENNY, Minnesota MICHAEL BILIRAKIS, Florida J. ROY ROWLAND, Georgia THOMAS J. RIDGE, Penneylvania JIM SLATTERY, Kansas FLOYD SPENCE, South Carolina JOSEPH P. KENNEDY, II, Massachusetts TIM HUTCHINSON, Arkansas GEORGE E. SANGMEISTER, Mlinois ‘TERRY EVERETT, Alabama JILL L. LONG, Indiana STEVE BUYER, Indiana CHET EDWARDS, Texas JACK QUINN, New York ‘MAXINE WATERS, California SPENCER BACHUS, Alabama BOB CLEMENT, Tennessee JOHN LINDER, Georgia BOB FILNER, California CLIFF STEARNS, Florida FRANK TEJEDA, Texas PETER T. KING, New York LUIS V. GUTIERREZ, Ilinois SCOTTY BAESLER, Kentucky SANFORD BISHOP, Georgia JAMES E. CLYBURN, South Carolina MIKE KREIDLER, Washington CORRINE BROWN, Florida Mack FLEMING, Staff Director and Chief Counsel SUBCOMMITTEE ON HOUSING AND MEMORIAL AFFAIRS GEORGE E. SANGMEISTER, Ilinois, Chairman SANFORD BISHOP, Georgia DAN BURTON, Indiana MIKE KREIDLER, Washington FLOYD SPENCE, South Carolina GV. (SONNY) MONTGOMERY, Mississippi © STEVE BUYER, Indiana @CONTENTS duly 22, 1993 Oversight of Home Loan Guaranty Program . OPENING STATEMENTS Chairman Sangmeister 1 Prepared statement of Chairman Sangmeister .. 19 WITNESSES Cline, Michael P., executive director, Enlisted Association of the National Guard of the United States .. 14 Prepared statement of Mr. Cline 40 Cullinan, Dennis M., deputy director, national legislativ ive service, Veterans of Foreign Wars of the United States u Prepared statement of Mr. Cullinan . 33 Dupree, Clifton E., associate legislative director, Paralyzed a of Amer- ; “Prepared statement of hdr, Dupree 31 Egan, Paul S., executive director, Vietnam Veterans of America, 2 Prepared ‘statement of Mr. Egan 44 Schulte, Ri Richard F., assistant ‘national legislative director, disabled American Veterans 10 Prepared statement of Mr. Schultz 37 Vogel, R.J., Dept puty, Under Secretary for Benefits, Department of Veterans ffairs, K. Keith Pedigo, Director, Loan Guaranty Service 2 Prepared statement of Mr. Vogel 20 MATERIAL SUBMITTED FOR THE RECORD Statement: National Association of Realtors 56 am