Senate To Reform FHA Before Tackling Housing Finance

Law360, New York (July 24, 2013, 5:11 PM EDT) -- The Democratic and Republican leaders told the Senate Banking Committee on Wednesday that they will deal with the future of Fannie Mae and Freddie Mac, but only after completing a bill that would boost the Federal Housing Administration's insurance fund and mortgage operations.

Sen. Tim Johnson, D-S.D., the committee's chairman, and Sen. Mike Crapo of Idaho, the Banking Committee's ranking Republican, both said at a Wednesday hearing that legislation that would reform the FHA and protect its solvency is their top priority, despite pressure to address...
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