Fla. Senate Panel Passes $200M Mortgage Settlement Bill

Law360, Miami (April 18, 2013, 8:51 PM EDT) -- A Florida Senate panel passed a bill Thursday that would allocate $200 million of the state's share of a $25 billion national settlement with mortgage servicers to affordable housing programs and earmark extra cash for the court system to ease the foreclosure backlog.

The Senate Appropriations Committee passed S.B. 1852, which would provide $70 million in funding for the State Housing Initiatives Partnership and $65 million for the State Apartment Incentive Loan Program, both of which are run by the Florida Housing Finance Corp., tasked with...
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