By Jann Swanson
Posted To: MND NewsWire
The 114th Congress’s first attempt at housing financial reform legislation hit the House hopper on Thursday. The bill, H.R. 1491 establishes an insurance program through Ginnie Mae and winds down Fannie Mae and Freddie Mac and allows them to be sold and recapitalized. The legislation is sponsored by John K. Delaney (D-MD). John D. Carney (D-DE), and James A. Himes (D-CT), all members of the House Financial Services Committee and currently has 10 cosponsors. Tagged as The Partnership to Strengthen Homeownership Act, text of the bill is not yet available on the Thomas-Library of Congress website, but is apparently similar if not identical to one introduced by the trio in the last Congress (H.R. 5055) which never made it out of committee. The following information was taken from a press release…(read more)
Via:: Reform Bill Would Wind Down GSEs, Boost Ginnie Mae Role
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