House and Senate leaders signed off on a conference report for a “minibus” appropriations bill that included language restoring FHA’s ability to insure loans of up to $729,750 in high cost markets through 2013. Because the minibus appropriations package also contains a continuing resolution to avoid a government shutdown and continue federal operations until Dec. …
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Lawmakers Want Answers on Bonuses to GSE Execs Lawmakers on Capitol Hill are up in arms over the news that the Federal Housing Finance Agency (FHFA) approved $12.79 million in bonus pay for 10 executives at Fannie Mae and Freddie Mac. Sixty senators put their partisan differences aside and presented a united front in a …
Legislation intended to stem the continuing tide of home foreclosures was brought to both houses of Congress in January. Rep. Dennis Cardoza, D-Atwater, re-introduced a bill that would make it easier for home owners to refinance existing mortgages to net more manageable monthly payments. He proposed this bill, called the HOME Act, in 2009. Last …