Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Housing bill signed quick implementation now expected
WASHINGTON (7/31/08)—As President George W. Bush signed the Housing and Economic Recovery Act into law, Sen. Christopher Dodd (D-Conn.) professed confidence that the refinancing program meant to ease the country’s mounting mortgage foreclosure problem would be operational by Oct. 1 as intended by the new law. Dodd called the heads of the Federal Reserve Board, Treasury Department, Federal Deposit Insurance Corp. and U.S. Department of Housing and Urban Development (HUD) together Tuesday after A HUD spokesman had doubted the agencies’ ability to meet the October implementation deadline. (American Banker July 30) Dodd said afterwards that HUD Secretary Steven Preston expressed confidence that the rules would be ready on time. Preston said his agency would start July 30 to begin working out details. The article also reported that Preston will ask President Bush to expedite a request to let HUD hire 300 additional staff immediately to facilitate implementing the refinancing program.


RSS print
News Now LiveWire
3 Atlanta fed judges recuse themselves from Home Depot data breach suits via @AtlBizChron http://t.co/lfPgOXZ7sO
3 hours ago
How may falling gas prices impact the U.S. economy? Find out tomorrow in #NewsNow #Market http://t.co/Q9ec9DGLDN
3 hours ago
News of the comp. for tomorrow: Big bank unveils plans for massive $6.5 billion new headquarters #NewsNow #Market
5 hours ago
Consumer confidence surges to 7-year high #NewsNow #Market http://t.co/fMEENGuWPi
6 hours ago
Charlotte Cash, CEO of @COFCU , is engaging members by producing videos on various subject of financial interest to members.
6 hours ago