Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Two housing-rescue bills readied for House committee vote
WASHINGTON (4/18/08)--The House Financial Services Committee introduced two measures Thursday, each intended to combat the country’s current unprecedented rise in foreclosures, and the associated impact on cities and states. According to an announcement by the committee’s chairman, Rep. Barney Frank (D-Mass.), the FHA Housing and Homeowner Retention Act (H.R. 5830) and the Neighborhood Stabilization Act (H.R. 5818) will be voted on April 23 and 24. H.R. 5830, first announced by Frank in March, proposes to expand the Department of Housing and Urban Development’s FHA program to help refinance at-risk borrowers into viable mortgages. The bill would also require the Federal Reserve Board to conduct a study on the need for an auction or bulk refinancing mechanism. The second measure, H.R. 5818, introduced by Chairwoman Maxine Waters (D-Calif.) of the House Financial Services subcommittee on housing and community opportunity, would provide loans and grants to states and cities to deal with problems associated with large numbers of foreclosures in neighborhoods across the country.


RSS print
News Now LiveWire
FHFA today announced it's extending comment deadline for guarantee fees Fannie, Freddie charge lenders to Sept. 8.
9 hours ago
The 2014 @CUwomen Forum was held in Gold Coast, Australia yesterday during @WOCCU 's World CU Conference.
11 hours ago
.@CFPB obtains $92M in debt relief from Colfax Capital Corp. http://t.co/QPZAeCAcy2 See also: http://t.co/Kjf4HHkINW
13 hours ago
Julian Castro was sworn in as 16th secretary of @HUDgov Dept. of Housing and Urban Development Mon.
13 hours ago
.@CUNA's Chief Economist @SchenkMike talks consumer confidence--at highest levels since 2007 w/ @TheStreet @JoeDeaux http://t.co/JyoYQmhAxc
13 hours ago