Sen. Banking Leaders Reach Bipartisan Deal To Fund FHA

Law360, New York (July 11, 2013, 7:11 PM EDT) -- Senate Banking Committee leaders agreed Wednesday on legislation to help the beleaguered Federal Housing Administration back on the path to solvency after the agency was battered by a more than $16 billion shortfall because of foreclosures on mortgages it insured.

The committee’s chairman, Tim Johnson, D-S.D., and ranking member Mike Crapo, R-Idaho, said they had reached an agreement on a bipartisan measure to ease the FHA’s financial woes, according to a joint statement they issued Thursday. The lawmakers are still hammering out the final details of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.