Democrats opposed requiring to have a 5 percent down payment on housing

Senator Corker tried to get the Financial regulation bill to include a required down payment for buying a house that "is equal to not less than 5 percent of the purchase price of the property securing the residential mortgage." Of course, there shouldn't have to even have a requirement, but a new government regulation is necessary simply because of other government regulations forcing these risky loans to be given out. The Restoring American Financial Stability Act of 2010 didn't deal with the major housing problems that caused the financial crisis. The reason for a 57-42 party line vote to strike down Corker's amendment:

Democrats did oppose the amendment, with one reason being given by Dodd being that it would have disadvantaged home buyers who had good credit and solid incomes but lacked the case to make required down payments.