jump to navigation

New mortgage-related regulatory bill approved April 15, 2007

Posted by Jay Medina in News and Information.
trackback

The new Regulator Reform Bill legislation that would overhaul the oversight of government-sponsored enterprises (GSEs) – Fannie Mae, Freddie Mac and the Federal Home Loan Banks – has been approved by a vote of 45 to 19 by the House of Representative’s Financial Services Committee.

The law would create a new, independent regulator, the Federal Housing Finance Agency, to regulate the GSEs. Also, the bill creates an Affordable Housing Fund to support rental housing and homeownership for low-income families by using contributions from Fannie Mae and Freddie Mac, based on their total outstanding mortgages annually. The program would continue for five years.

Advertisements

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: