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Mortgage Lending Committee |
Housing and Economic Recovery Act (HR 3221)
The text of the Act (260 pages) can be downloaded from the Government Printing Office here.
The Library of Congress has a summary of the Act here.
The American Land Title Association has a summary of the bill here.
An article from the July 31st edition of the New York Times about the bill is here.
The National Association of Home Builders has a website about the first time homebuyer's tax credit created by Act here.
Standard & Poor's has lowered ratings of certain securities of Fannie Mae and Freddie Mac based on the powers that a received appointed for either GSE would have under the Act and the potential adverse effect on stockholders and holders of subordinated debt. An article from the August 12 edition of the Wall Street Journal is posted below.
A statement from the Mortgage Bankers Association about the Act is here
The Mortgage Bankers Association has a webpage full of resources regarding the Act here.
August 5 letter from congressmen to lenders urging delay in foreclosures while the Act is being implemented is here.
