[stocksthatgoup]

House Complimentary Bill

Sponsor

* Rep. Richard Baker [R, LA-6]
* and 19 Co-Sponsors
o Rep. Robert Aderholt [R, AL-4]
o Rep. James Barrett [R, SC-3]
o Rep. Roy Blunt [R, MO-7]
o Rep. Geoff Davis [R, KY-4]
o Rep. Tom Feeney [R, FL-24]
o Michael Fitzpatrick
o Rep. E. Scott Garrett [R, NJ-5]
o Rep. Paul Gillmor [R, OH-5]
o Rep. Jeb Hensarling [R, TX-5]
o Rep. Walter Jones [R, NC-3]
o Rep. Thaddeus McCotter [R, MI-11]
o Rep. Patrick Mchenry [R, NC-10]
o Michael Oxley
o Rep. Ileana Ros-Lehtinen [R, FL-18]
o Rep. Paul Ryan [R, WI-1]
o Jim Ryun
o Rep. Christopher Shays [R, CT-4]
o Robert Simmons
o Rep. Frank Wolf [R, VA-10]
close

[maine-iac7]

I don't see a SINGLE democrats name on either bill to attempt to reign this in long before it got to this point.

McCain was one of the 4 sponsors in the senate.

Surely we can get this out there - this is what you get when democrats/Marxists get the reigns...

This all started with Clinton - making mortgages available to ANYone - even without jobs or income.

McCain and the Bush Admin. tried to reign it in. The demRats kept it afloat.

Time to expose them and shut obambis lying mouth up - besides, he should be so busy getting his defense together to fight a charge of violation of the Logan Act, he shouldn't have time for anything else.

[VRWCmember]

Where did you find the House bill? I couldn’t find a reference to it.

[stocksthatgoup]

Housing Financial Services Committee Approves Affordable Housing Amendment

On May 25, the House Financial Services Committee approved a bill, the Federal Housing Finance Reform Act of 2005, or H.R. 1461, that provides stricter federal oversight for Fannie Mae and Freddie Mac, the two large, government-chartered mortgage finance agencies known as government-sponsored enterprises, or GSEs. The GSE bill includes language setting aside five percent of Fannie and Freddie’s after-tax profits for the production of affordable housing. Permitted uses of dollars from this fund include rehab of low-income housing that could address conditions affecting occupant health. This affordable housing fund provision was supported by a variety of Representatives on the Committee from both sides of the aisle.

Currently, members of the House leadership do not support the affordable housing amendment and are on record as being committed to stripping the language from H.R. 1461. Senator Richard Shelby (R-AL), Chair of the Senate Banking, Housing and Urban Affairs Committee, has also expressed his opposition to the affordable housing provision and will likely attempt to keep such language out of the Senate version of the GSE bill.
For more information on the affordable housing language included in H.R. 1461, visit www.nlihc.org