For Immediate Release:
Monday, June 18, 2007 

WASHINGTON D.C. - U.S. Congressman Dan Boren attended a White House bill signing today of legislation he introduced to address the lack of mortgage lending in Indian Country.  Tribal leaders of the Five Civilized Tribes also were on-hand to witness President Bush sign H.R. 1676, the Native American Home Ownership Opportunity Act of 2007.  The bill reauthorizes the Section 184 loan guarantee program administered through the U.S. Department of Housing and Urban Development.  It provides loan guarantees to private-sector lenders who make mortgage loans to eligible borrowers for homes located in Indian Country. 

 

“This program increases home ownership in Indian Country and improves the quality of life in Indian communities,” Boren said.  “It increases home ownership in Eastern Oklahoma and across the state.”

 

Tribal officials present at the bill signing were Chief Chad Smith of the Cherokee Nation, Governor Bill Anoatubby of the Chickasaw Nation, Assistant Chief Gary Batton of the Choctaw Nation of Oklahoma, Chief A.D. Ellis of the Muscogee (Creek) Nation of Oklahoma, and Chief Enoch Kelly Haney of the Seminole Nation of Oklahoma.

 

“The President and both houses of Congress recognize the importance of this program,” Boren said.  “Seeing this legislation passed and signed into law is critical to continue providing home ownership opportunities throughout Indian Country.”

 

Nationwide, 196 tribes participate in the program, including 24 in Oklahoma.  Since its inception, the program has guaranteed $517 million in loans nationwide, including $121.9 million in Oklahoma.  The state consistently represents 34 percent of the total loans guaranteed through the program.  Much of the land in Indian Country across the nation is held in trust by the federal government and therefore cannot be mortgaged.  H.R. 1676 reauthorizes the loan program through Fiscal Year 2012.

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