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Inside Washington (02/05/2008)
* WASHINGTON (2/6/08)--The Office of Housing and Enterprise Oversight announced that President Bush’s 2009 budget would provide $66.6 million for the agency. The amount is $0.6 million more than the 2008 budget. The budget also calls for legislation to create a regulator for Fannie Mae, Freddie Mac and the Federal Home Loan Banks ... * WASHINGTON (2/6/08)--A proposed requirement forcing lenders to assess a mortgage borrower’s ability to repay could increase loan costs, said Gov. Randall Kroszner of the Federal Reserve Board Monday. The rule could raise litigation risk and compliance costs, which would then increase credit costs for borrowers with high risks, he added (American Banker Feb. 5). The proposal could go into effect next year. The comment period ends April 9 ... * WASHINGTON (2/6/08)--Ford Motor Co. filed another application Friday for an industrial loan company (ILC), marking the first commercial firm to apply for a charter after a moratorium on ILCs imposed by the Federal Deposit Insurance Corp. expired last month. Ford applied in June 2006 but later withdrew its application (American Banker Feb. 5) ... * WASHINGTON (2/6/08)--President Bush announced Monday that the proposed 2009 budget for the U.S. Small Business Administration would authorize more than $28 billion in its primary small-business financing programs, including a level of $17.5 billion for the Guaranteed Loan Programs, $7.5 billion for the Certified Development Company, and $3 billion for venture capital support under the Small Business Investment program. The overall proposed budget is $657 million, a 15.5% increase over 2008 and a 6% increase in core operating budget over 2008. Including anticipated carryover funds, the total spending package would be $819 million ...


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